Daily News Hungary economy

Budapest, October 19 (MTI) – The Schengen visa-free regime could collapse and disappear if the European Union fails to protect its external borders, Foreign Minister Peter Szijjarto said on Monday.

Schengen’s end would have unforeseeable economic consequences, he said at an event of the Hungarian European Business Council in Budapest, where the organisation’s 2015 report on Hungary was presented.

There is a fierce fight in the world for new investments, but it is just as important to hold on to old investors as to find new ones, Szijjarto said. The availability of adequate education and trained workers is paramount in terms of drawing new investment, he added.

Szijjarto said he is planning a meeting with heads of HEBC-member companies soon to discuss workforce training and the new vocational education system in Hungary.

The authors of the HEBC report included leaders of top companies such as ABB, AkzoNobel, British Telecom, Ericsson, GDF Suez, Magyar Telekom, Henkel, Nestle, OMV, Philips, SAP, Shell and Volvo Group Trucks.

Source: http://mtva.hu/hu/hungary-matters

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