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Orbán cabinet: US investors queue up amid improving relations
US companies are open to making investments in Hungary that rival the size of Asian investments currently taking place in the country, building on the projected improvement in bilateral relations, Levente Magyar, a state secretary at the Ministry of Foreign Affairs and Trade, said in Washington after winding up business talks in Florida.
In a statement sent to MTI, he said there could be opportunities for US investments worth many billions of dollars in Hungary.
Magyar said the negotiations showed that improving political relations was a prerequisite for the dynamic growth of economic ties. He said “there are investors waiting in line who are ready to bring very serious capital to Hungary once there is a US administration that will strive to improve relations”.
He noted that his talks on strengthening economic ties built on the fact that Prime Minister Viktor Orbán met with US President-elect Donald Trump in Palm Beach a week earlier. Related article – Orbán: ‘I trust after Donald Trump takes office, we will experience its beneficial effect.’
Among the people with whom Magyar met was the investor Tamás Péterffy.
US Ambassador criticisms
Meanwhile, the US ambassador David Presman to Hungary has strongly criticised the Hungarian government at an event over corruption, its close ties with Russia and China:
latest: How much do Hungarians trust Trump to end the Russia–Ukraine war? – New survey
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Reality as follows: BUDAPEST (Reuters) – New tariffs U.S. President-elect Donald Trump has pledged to impose on European Union imports would hit Hungary’s economic growth and boost inflation, the National Bank of Hungary (NBH) said in its quarterly inflation report on Thursday. These are particularly strong in the automotive sector, with the region sending 20% to 30% of its exports to Germany. The Czech Republic, Hungary and Slovakia are considered the most exposed as suppliers and manufacturing bases for German brands, S&P Global said in a report last week.
Germany is expected to be more affected by any U.S. tariffs than other euro area members, Nomura forecasts, which will have a knock-on effect on Central Europe given its deep trade ties to Europe’s largest economy. These are particularly strong in the automotive sector, with the region sending 20% to 30% of its exports to Germany. The Czech Republic, Hungary and Slovakia are considered the most exposed as suppliers and manufacturing bases for German brands, S&P Global said in a report last week.