Malaysia is seeking closer economic cooperation with Hungary in green energy, semiconductors, pharmaceuticals and advanced manufacturing, as representatives of the two countries met in Budapest for the first Malaysia–Hungary Business and Investment Forum. The Malaysian state of Sarawak is meanwhile targeting almost EUR 70 billion in total investment by 2030.
Around 60 Hungarian business leaders, chamber representatives and government officials attended the inaugural Malaysia–Hungary Business and Investment Forum 2026 in Budapest, according to the Embassy of Malaysia in Hungary.
The meeting focused on potential cooperation in several rapidly growing industries, including green energy, semiconductor manufacturing, pharmaceuticals and advanced manufacturing.
The Malaysian Embassy described the forum as a milestone in strengthening economic links between the two regions. In a Facebook post following the event, it wrote:
“Together, we build strong economic bridges between Southeast Asia and Central Europe.”
Malaysia and Hungary could open doors to two regions
Speaking at the forum, Norafizan Mustaffa, Chargé d’Affaires ad interim of the Malaysian Embassy in Budapest, highlighted the geographical and economic advantages of closer cooperation between the two countries.
“Malaysia serves as a strategic entry point to the ASEAN market, while Hungary’s position in Central Europe makes it an ideal partner for Malaysian businesses looking to expand into Europe,” he said.
The two countries could therefore serve as gateways for companies seeking to enter the Southeast Asian and Central European markets.
Malaysia is already a significant player in the global electronics and semiconductor industriess. Around 7% of global semiconductor trade passes through the country, while it accounts for an estimated 13% of global semiconductor assembly, testing and packaging. Hungary could be a good partner, has also developed a major manufacturing base in areas including automotive production, electronics and battery manufacturing.
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Sarawak targets almost EUR 70 billion in investment
Sarawak’s economic plans played a central role at the Budapest forum. Datu Lester Matthew, Permanent Secretary of Sarawak’s Ministry of International Trade, Industry and Investment, presented the state’s Post COVID-19 Development Strategy 2030.
Under the strategy, Sarawak aims to attract EUR 69.99 billion in total investment by 2030, with clean energy, carbon capture and storage, semiconductor manufacturing and digital infrastructure among its priority areas.
The state is seeking to position itself as a sustainable, high-income investment destination while expanding sectors linked to the green and digital transitions.
For Hungarian companies operating in engineering, energy technologies and advanced manufacturing, these developments could create new business opportunities in Malaysia.
Hungarian and Malaysian companies held direct talks
The Budapest forum also included business-to-business matchmaking sessions aimed at establishing direct links between Hungarian and Malaysian companies.
Representatives of the Malaysian Investment Development Authority, the Malaysia External Trade Development Corporation and the Hungarian Export Promotion Agency also briefed participants on trade and investment opportunities.
Hungary’s Ambassador to Malaysia, Sándor Sipos, attended the event as well. The forum could mark another step towards closer economic ties between Hungary and Malaysia, particularly in sectors where both countries are seeking new investment and international partners.
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