Hungarian President Sulyok: Hungarian businesses prepared to contribute to success of Mongolia’s reforms
President Tamás Sulyok held talks with Gombojav Zandanshatar, chairman of Mongolia’s State Great Khural, at the Sándor Palace in Budapest on Wednesday.
Sulyok said both countries’ interests lay in peaceful coexistence, and political strategies should be based on connectivity rather than the formation of blocs.
At their meeting, Sulyok and Zandanshatar discussed bilateral economic and trade ties along with education, cultural and tourism matters.
The president said Hungarian businesses were prepared to contribute to the success of Mongolia’s reforms, mainly in the areas of agriculture and water management.
Hungary and Mongolia’s “deep-rooted friendship” is based on mutual respect, Sulyok said, adding that Hungary aimed to remain a bridge between Asia and Europe.
They touched on the Stipendium Hungaricum agreement for 2024-2026 under which Hungary offers scholarships to 200 Mongolian university students and Mongolia offers scholarships to 10 Hungarian students a year.
They noted the respective Mongolian and Hungarian language courses at Eotvos Lorand University and the National University of Mongolia, along with the existing twinning agreements between Hungarian and Mongolian municipalities.
Hungary and Mongolia established diplomatic relations in 1950.
Read also:
Hungarian central bank signs cooperation agreement with Mongolian watchdog
The National Bank of Hungary (NBH) has signed an agreement on joint financial supervision cooperation with the Financial Regulatory Commission of Mongolia (FRC), NBH said on Wednesday.
The agreement covers, among other things, information and knowledge exchange between the authorities, carrying out joint research projects and organising knowledge-sharing events, the central bank said in a statement.
Agriculture minister meets Mongolian finance minister
Agriculture Minister István Nagy met Javkhlan Bold, Mongolia’s finance minister, in Budapest on Wednesday.
The sides signed a memorandum of understanding to strengthen relations in agriculture and the food industry, the Ministry of Agriculture said. The partnership agreement covers the modernisation of farm machinery, the preservation of animal genetic resources, irrigation development and forestry issues.
Nagy said Hungarian businesses and education institutions were ready to share their experience with the Mongolian partners. The minister said he could see opportunities for bilateral cooperation in agricultural technologies, the poultry sector or seed production.
Javkhlan Bold invited István Nagy for an official visit to Mongolia.
FM Szijjártó hails Hungary-Mongolia cooperation
Cooperation between Hungary and Mongolia is close despite the geographical distance between them, Foreign Minister Péter Szijjártó said on Facebook on Wednesday.
Szijjártó noted that Hungary had donated vaccines to Mongolia during the coronavirus pandemic, adding that the two countries also cooperate actively in the areas of agriculture and water management, which last year led to a “record trade turnover”.
Hungary offers the most university scholarships to Mongolia relative to the size of its population, he said, noting that 903 students had applied for the 200 available scholarships this year.
He said the two countries had concluded their talks on an air transport agreement, which had been made all the more important by Mongolia having scrapped the visa requirement for Hungary.
Szijjártó noted that Hungary and Mongolia will mark the 75th anniversary of the establishment of diplomatic ties next year. He said boosting bilateral cooperation presented an even greater opportunity given that Mongolia has the world’s second-biggest reserve of rare-earth elements.
Kövér meets Mongolian counterpart
Speaker of Parliament László Kövér met Gombojavyn Zandashatar, his Mongolian counterpart, for talks in Budapest on Wednesday.
After the talks, Kövér said Mongolia was an important, traditional partner for Hungary in the north-eastern Asian region. Bilateral and cultural ties are extremely good, while business ties need to be raised to the same level, he added.
Parliament’s press office quoted Kövér as saying at the talks that similarities in the traditions of the two nations create a good basis for further deepening friendly ties. Mongolia’s rich historical and cultural heritage is a great asset, which contributes to the cultural diversity of Eurasians, Kövér said. Mongolia’s active foreign policy is key for preserving stability in its region, he added.
Hungary follows Mongolia’s development with a loyal interest, while Hungarian businesses are ready to contribute to Mongolia’s success with special regard to agriculture and water management, Kövér said.
Read also:
Opening of the exhibition “Soul and Body” to mark the 111th anniversary of the birth of Amrita Sher-Gil
The Amrita Sher-Gil Cultural Centre (ASCC), Embassy of India, in collaboration with Fenyvesi Painting School, organised an exhibition on “Amrita Sher-Gil” commemorating the 111th birth anniversary of the iconic artist Amrita Sher-Gil. The exhibition ceremony held at ASCC to celebrate Amrita Sher-Gil’s remarkable contribution to the world of art and her enduring legacy was attended by a large number of Hungarian and Indian people.
His Excellency, Mr Partha Satpathy, Ambassador of India inaugurated the exhibition on 19 February 2024 amidst distinguished guests, including diplomats and art enthusiasts. The event was a significant moment of cultural exchange and appreciation when the legacy of Amrita Sher-Gil’s unparalleled artistic vision came alive.
Amrita Sher-Gil, a pioneer of modern Indian art, continues to inspire generations with her evocative works that blend Western techniques with Indian themes. Through her art, she captured the essence of Indian society, particularly the lives of Indian women and the rural landscape, with unparalleled depth and emotion.
The exhibition featured mostly the works by the students of Fenyvesi Painting School, paying tribute to Amrita Sher-Gil’s enduring influence on contemporary artists.
In his address, His Excellency, the Ambassador of India, Mr Partha Satpathy remarked that “Amrita Sher-Gil’s legacy transcends time and space, resonating with audiences around the globe. She serves as a symbol of cultural exchange and understanding between India and Hungary. Her life and work reflect the interconnectedness of these two cultures, showcasing how individuals can bridge the gap between different traditions, histories, and artistic expressions”.
Ambassador appreciated the efforts of ICCR’s Amrita Sher-Gil Cultural Centre and Fenyvesi Painting School, for their collaboration, and organizing and working to bring this exhibition to fruition.
Distinguished speakers, Mr Tibor Kovács, former Director of Hungarian Information and Cultural Centre, New Delhi and Dr. Anna Aklan, Indologist and curator of Ferenc Hopp Museum of Asiatic Arts, Budapest delivered their lectures on the legacy of Amrita Sher-Gil.
Indian cultural program showcasing the rich diversity and vibrant traditions of Indian culture was one of the highlights of the event. ASCC’s Director, Dr. Mukesh Kumar Srivastava greeted everyone and thanked them for joining the event.
Since the opening of the exhibition, many prominent visitors, including Mr. Péter Vitényi Deputy Director General at Ministry of Foreign Affairs and Trade, Budapest have visited the centre to explore the art exhibit. The exhibition is still open to the public and art enthusiasts.
The exhibition has been extended: it can be viewed from Monday to Friday (4 to 8 March), from 10:00 a.m. to 6:00 p.m. Details HERE.
read also:
Travel Exhibition 2024 in Budapest: we visited – until Sunday, you can too! – PHOTO GALLERY
Visitors interested in tourism, boats, motorhomes and electric bicycles are also welcome at the Travel Exhibition in Budapest at the Hungexpo Budapest Congress and Exhibition Centre. We took part in the ‘professional day’ to see what they have to offer the general public this weekend (23-25 February).
This year, the focus of the 46th Travel Trade Fair and 32nd Budapest Boat Show will be on active and adventure tourism, which will be presented in a renewed format and content this year. The Travel+Exhibition will include the Budapest Boat Show, the Caravan Salon and the E-bike Test&Show. With 23 domestic and 28 foreign destinations offering their travels at stand-alone stands, nearly 150 exhibitors are waiting for visitors at Hungexpo. As usual, the first day and a half of the event is dedicated to the professional audience, with tourism conferences and round-table discussions alongside business meetings.
Foreign pavilions
Bulgaria is this year’s guest of honour
Bulgaria is the foreign guest of honour at the exhibition. Mariela Modeva, advisor to the Bulgarian Ministry of Tourism, graced the event with her presence. In her speech, she said that Bulgaria will partially join the Schengen area (air and maritime traffic) in March and that this is expected to give a big boost to tourism. She stressed,
Bulgaria is not only worth visiting for its beaches, but also for its excellent cultural programmes, with some 40,000 historical monuments (7 of which are on the UNESCO World Heritage List), 36 cultural reserves, 160 monasteries and some 330 museums and galleries.
Christo Polendakov, Bulgaria’s Ambassador to Hungary, said it was a great opportunity to be the guest of honour at such an event and hoped that the travel agencies in their pavilion would be able to introduce more Hungarian travellers to the beauty of the Bulgarian coast. He stressed that Bulgarians welcome Hungarians and that it is worth trying Bulgarian hospitality.
Near and far destinations abroad
In addition to Bulgaria, many other countries were represented, such as the tourist offices of neighbouring Slovakia, Slovenia and Serbia, which were also present in large numbers, but also tourist destinations in far-off countries such as Peru, where Ambassador Edgard Pérez naturally highlighted Machu Pichu as the most famous attraction in the South American country.
He said that Lima is home to two of the six best restaurants in the world, so it could be a great experience for gastronomy lovers. Indonesia was also represented by two travel agencies, organised by the embassy and ITPC Budapest, so we were able to learn more about Bali and other Indonesian attractions. Georgia, Tunisia, Japan and South Africa were also present, but Italy and Greece were among the classic Hungarian tourist destinations represented by several exhibitors.
Domestic pavilions
The domestic guest of honour is Gyula and the county of Békés. Ernő Görgényi, mayor of Gyula, said that they would focus on active tourism, presenting, among other things, hiking and cycling trails, the castles of the county, the countryside of the Körös and the deltas, and natural values.
On the stand, which covers an area of around 100 square metres, visitors will be able to discover the county’s unique thermal waters and its rich cultural and gastronomic offer, including the Gyula pálinka festival and the Csaba sausage festival. Organised by the Budapest Chamber of Commerce and Industry (BKIK), tourism businesses from 11 Hungarian regions will present their local attractions, products and services at a joint chamber stand. Several exhibitors have come from all over the country to showcase the beauties of Hegykő, Szentgotthárd and even Lake Tisza.
Caravan Salon, Boat Show, E-bike
A traditionally popular and spectacular event of the exhibition is the Caravan Salon, where visitors can view and drive around the vehicles.
The Hungarian Sailing Association is traditionally the strategic partner of the Budapest Boat Show. This year, the organisers of the exhibition have invited the Hungarian Sailing Academy and its Sailing at Home programme to be the guest of honour at the boat show. This year is the year of the five Olympic Games, which is why Olympians, former top athletes and Olympic hopefuls will be given a special place.
The E-bike Test&Show, which debuted last year, was a great success. Thus, the organisers have built a test track of almost 3,000 square metres where visitors can try out the electric bikes on display.
Japan’s national holiday celebrated in Budapest, Ambassador Otaka bids farewell
To mark His Majesty Naruhito’s birthday, the Embassy of Japan held a National Day reception at the Budapest Marriott Hotel on the evening of 16 February. The event was special as the much-loved and respected HE Masato Otaka, Ambassador to Hungary, bid farewell.
Considered one of the largest diplomatic events in Hungary, Japan National Day is always an interesting event in terms of both size and programme.
In his speech, HE Masato Otaka welcomed His Majesty and listed the most important events for Japan in the past year. He then referred to the international situation, which he said was very worrying and that Japan was doing its utmost to normalise the situation, whether in Ukraine, Gaza or the Korean peninsula.
In his speech, Masato underlined the close ties between Hungary and Japan and expressed his satisfaction that there are currently 180 companies operating here. He added that Japanese investors have made major investments in Hungary and are planning to do so in the future. At the end of his speech, the Japanese Ambassador to Budapest thanked everyone who helped him in Hungarian for the past three years he has spent here in Hungary.
He expressed his gratitude for having had the opportunity to meet so many valuable people and to serve Japanese-Hungarian relations.
The guests thanked Ambassador Masato, who will be the Head of Mission in Bangkok, Thailand, for his extraordinary service with a long round of applause.
We also found out that the next Ambassador of Japan to Hungary is already known, HE Hikariko ONO.
The Hungarian government was represented at the event by János Bóka, Minister for European Union Affairs, and Tibor Navracsics, Minister of Public Administration and Regional Development. In his speech, Mr Bóka also highlighted the excellent economic, cultural, and sports relations between Japan and Hungary.
The minister pointed out that the country of the rising sun has been a top 10 investor in recent years, with 27,000 employees in Japanese companies, and that Budapest certainly regards Tokyo as a strategic partner.
During the rest of the reception, 18 Japanese musicians, mostly members of symphonic orchestras from Hungary, gave a concert conducted by the baton of Haraguchi Shoji.
Several Japanese companies were also given the opportunity to introduce themselves to the attendees, and the Kicsi Japan restaurant contributed to the evening with excellent sushi.
Read also:
House Speaker Kövér: Developing eastern network priority for Hungary
Speaker of Parliament László Kövér met his Kyrgyz counterpart, Nurlanbek Turgunbekovich Shakiev, in Budapest on Monday, and said that Hungary continued to see “developing the eastern network” as a priority.
Hungary is ready to step up its ties with Kyrgyzstan, the country’s strategic partner since 2020, he said. Besides shared cultural and historic roots and varied political ties, educational and economic cooperation are also thriving, Kövér said, according to a statement of the parliament’s press office. That cooperation had been boosted by opening embassies in each other’s capitals, and the two countries have set up a joint economic committee headed by the two foreign ministers, he said.
The Organization of Turkic States has opened a representation in Budapest, further boosting cooperation with the region, he added.
Kövér said Kyrgyzstan and Hungary both valued the freedom they had achieved more than 30 years ago, and wouldn’t sacrifice it “for any cooperation”. Hungary envisions the European Union as a community of sovereign states, “despite recent attempts to turn it into a centralised empire”, he added.
Just as Kyrgyzstan, Hungary valued traditional values such as the family, the nation and religious roots, he said. “Based on those shared values, Hungary is ready to represent and help the central Asian country’s attempts to forge closer ties with the EU.”
Shakiev said the energy sector, infrastructure development and tourism offered opportunities for closer cooperation with Hungary. He said a direct Budapest-Bishkek flight would have beneficial effects on those sectors.
Kyrgyzstan sees Hungary, its only strategic partner among EU member states, as “the gateway to the EU”, he said. He thanked Hungary for a grant programme offering stipends for 200 Kyrgyz students wishing to study in Hungary.
The talks were also attended by Deputy Speaker of Parliament Sándor Lezsák and lawmaker Sándor F Kovács, the head of parliament’s Hungarian-Kyrgyz friendship group.
Read also:
Hungary Helps programme focuses on Nigeria, Nicaragua and Iraq
This year’s International Religious Freedom Summit opened at Hungary’s embassy in Washington, DC late on Monday.
Speakers at the event called the fight for religious freedom “the most important human rights fight of the present”.
Tristan Azbej, Hungary’s state secretary in charge of aid to persecuted Christian communities, told MTI on the sidelines of the event that it was “a sign of recognition of the Hungarian government’s work in the field” that the embassy was hosting it.
In his opening address, Azbej gave an account of the Hungarian government’s recent efforts to provide aid to persecuted Christians through the Hungary Helps programme, focusing on communities in Nigeria, Nicaragua and Iraq.
Read also:
- Hungary helps persecuted Christians all over the world
Katrina Lantos, the daughter of late congressman Tom Lantos and co-president of the summit, said Hungary “is setting the pace” in helping persecuted communities, its efforts “manifested in deeds, not only in words”.
Nigerian Bishop Wilfred Anagbe said “every person has to right to exercise their religion and faith,” and referred to Hungary as a “spearhead” in the fight for persecuted Christians.
International community should ensure free navigation and trade at sea
An “important task” for the international community “is to maintain order at sea across the world, such as ensuring free navigation and trade”, Foreign Minister Péter Szijjártó said in Brussels.
The minister added, however, that steps by the international community should not lead to “an escalation of the security threat … or else it could result in a vicious cycle.”
Speaking at a press conference held on the sidelines of a meeting of trade ministers of the EU on Tuesday, Szijjártó said freedom in global trade and “undisturbed procedures” were especially important for Hungary.
“Security threats impact the freedom of trade in the first place, while political-ideological threats could impediment the free flow of investments,” the minister said. The freedom of trade is impacted at the Red Sea, he said, adding that “it demonstrates the vulnerability of global supply chains, which could be compromised by armed conflicts at any part of the world.”
Read also:
- Minister Nagy: Europe slow at adapting to new trends
- Hungary-Vietnam ties can gain new momentum in the future, says official
The situation at the Red Sea and the resulting delays in shipments of goods from the East to Europe “demonstrates this interdependence because it impacts the European economy, leading to the temporary closure of businesses while jeopardising jobs,” he said.
Trade cooperation between Europe and Asia, he said, was crucial for Hungary, adding that endeavours to thwart that cooperation were “a lot more dangerous than what is happening at the Red Sea.” “The Red Sea problem will be resolved by those that are strong enough … but there’ll be far-reaching negative consequences if East-West cooperation is undermined through political means,” Szijjártó said.
Hungarian FM: W Europeans want to undermine CEE’s competitive edge
Western Europeans are mounting legal and political attacks in an attempt to undermine central Europe’s competitive edge, Páter Szijjártó, the foreign minister, said in Brussels on Tuesday, insisting they were envious of CEE countries’ ability to attract investments from the East.
“Security threats largely undermine free trade, while political and ideological attacks threaten the free flow of investments”, affecting export economies like Hungary’s, Szijjártó told a press conference after a European Union Council meeting on trade affairs.
He said Hungary supported a global investment facilitation agreement to be adopted by the World Trade Organisation at its next meeting. This would undercut political and ideological obstacles in the way of the free flow of investments, he added.
Szijjártó reiterated Hungary’s objection to de-risking — essentially separating the Chinese and European economies — saying this was “an artificial political intervention” which went against Europe’s economic interests.
Read also:
- Hungarians to have easier access to New York, Beijing – UPDATED
- Minister Nagy: Europe slow at adapting to new trends
Dressed up in bureaucratic language, “they want to … security screen investments from … China,” he said.
The minister said Hungary did not want to be forced to return to artificial interventions in the economy redolent of the communist era.
The next decade, he said, would be “a decade of Eastern investments in Europe”. Most investments in Hungary in the past four years came from South Korea and China, respectively, nudging Germany and the US out of first place, he added.
He said central Europe was more competitive than Western Europe in attracting investments, “and we Hungarians are the main driver of central Europe’s success”.
“The global automotive revolution is essentially based on German-Chinese cooperation, and Hungary has become the European hub for all this,” he said.
Hungary, Szijjártó added, did not take the nationality of a company’s owners into consideration, only that it should comply with Hungarian laws.
Hungary-Vietnam ties can gain new momentum in the future, says official
As the next president of the Council of the European Union, Hungary has a vested interest in the continued development of the EU’s relations with Vietnam, the ministry of EU affairs said on Saturday.
In a statement, the ministry said Barna Pál Zsigmond, the parliamentary state secretary of EU affairs, paid an official visit to Vietnam, where he outlined the priorities of the coming Hungarian EU presidency. At his talks, Zsigmond said Hungary saw the future of EU member states in connectivity rather than Europe’s isolation. Vietnam and Hungary both have an interest in international connectivity and in the broadest possible cooperation between themselves as well as between EU and ASEAN member states, he said.
Zsigmond said Hungary-Vietnam ties could gain new momentum in the future, arguing that the Southeast Asian country was back on a growth path following the end of the pandemic, opening the door to opportunities for cooperation in every area.
The state secretary said both countries were pro-peace when it came to the war in Ukraine.
Zsigmond’s talks also touched on the investment protection agreement between the EU and Vietnam, and he assured his partners that during its EU presidency, Hungary would urge member states that have yet to ratify the agreement to do so.
At his talks with the deputy minister of public safety, Zsigmond discussed cooperation between the two countries’ police forces and their fight against organised crime.
Joint responses to global challenges
Meanwhile, Zsigmond talked about bilateral academic and university ties with the deputy head of the Diplomatic Academy of Vietnam and the rector of Vietnam National University, the ministry said.
At the academy, Zsigmond gave a talk about Hungarian-Vietnamese relations and the possible joint responses to global challenges.
He said the Stipendium Hungaricum programme offers grants to 200 Vietnamese students each year, adding that there are currently 900 Vietnamese students pursuing studies in Hungary.
The ministry said Zsigmond also held talks with the rector of the Ho Chi Minh City University of Technology.
He also discussed the development of business relations with the deputy director of the Vietnam Chamber of Commerce and Industry, the head of Business Association of Overseas Vietnamese (BAOOV), leaders of the local representations of Hungarian pharmaceutical companies Gedeon Richter and EGIS, as well as the delegations of the Central and Eastern European Chamber of Commerce in Vietnam and EuroCham.
Read also:
New direct flight from Budapest to this popular tourist choice in Asia
The Vietnamese prime minister is on an official visit in Budapest, and it seems the talks may result in a new direct flight between Budapest and the popular Asian tourist destination.
The Vietnamese prime minister seems determined to redefine the Hungarian-Vietnamese cooperation and relationships. Probably that is why he came with a delegation to Hungary on 18 January.
Pham Minh Chính came with his foreign, investment, industry and trade, education, and technology minister. The governor of the state bank also accompanied him. He arrived in Hungary on 18 January and will finish his Central European tour in Romania on 23 January.
The Hungarian-Vietnamese relationship is vivid thanks to the economic and tourism relationships. Hungarians go there to spend their holiday on the tropic beaches of the beautiful country, and many Vietnamese also choose to do so in Budapest, Lake Balaton or other Hungarian cities. Furthermore, we wrote HERE about the thousands of Vietnamese workers in Hungary. More are expected to come since Hungary struggles with a serious labour shortage. Furthermore, more than 200 Vietnamese students come to continue their studies at Hungarian universities thanks to the Stipendium Hungaricum program.
PM Orbán wants a direct air connection
PM Orbán complained in the Vietnam-Hungary Business Forum that the lack of direct air connection baulks networking between Hungarian and Vietnamese businessmen. Therefore, they agreed with PM Chính to work out a plan to create direct flights between the two countries. They delegated the task to their foreign ministers, Budflyer wrote.
PM Orbán did not mention an airline or a destination in Vietnam or Hungary. As for the latter, the Budapest Liszt Ferenc International Airport seems the only viable choice. In Vietnam, one can think about either Hanoi or Ho Chi Minh City. Moreover, Budfyler believes the airline concerned will be the Asian country’s international flag carrier, Vietnam Airlines.
Before, Bamboo Airways wanted to establish a flight between Vietnam and Central Europe. Their choice was Prague-Hanoi, but the COVID pandemic put that in the drawer. Later, the airline terminated its international flights due to its high debt.
Thus, we hope the Orbán plan will come true, so Vietnam may come closer to Hungary.
Read also:
Hungary-Vietnam: predictable partnership, Hungary’s foreign minister said
Predictable partnerships based on mutual respect such as the cooperation between Hungary and Vietnam are all the more important in the current turbulent times, Péter Szijjártó, the minister of foreign affairs and trade, told a Hungarian-Vietnamese business forum in Budapest on Friday.
Recent global crises such as the pandemic, the ongoing war in Ukraine and the conflict in the Middle East disrupted the existing supply chains, caused energy prices to soar and have affected maritime trade, the minister noted.
Such turbulent times, Szijjártó said, gave even greater value to partnerships like the more than 70-year cooperation between Hungary and Vietnam.
He welcomed that the two countries had further strengthened their cooperation in recent days.
Szijjártó said that under the new agreements signed by Hungary and Vietnam, cooperation in foreign affairs was set to become stronger. The two countries will boost their cultural ties, step up joint action against international crime, and Hungary is set to increase exports of its water management technologies to the Southeast Asian country, he added.
Szijjártó also welcomed that there were no unresolved political issues between Hungary and Vietnam, “only cooperation based on mutual benefits”.
He said everything was in place for cooperation between Hungarian and Vietnamese businesses to successful as well, urging the business executives in attendance to make use of this opportunity.
Read also:
Minister Nagy: Europe slow at adapting to new trends
Márton Nagy, the minister of economic development, addressed the World Economic Forum in Davos on Friday and discussed new economic trends, the dynamism of change to new industries and the need for adaptability, the ministry said in a statement.
Nagy said Europe was slow at adapting to new trends while significant structural changes were taking place in the world. Asian countries, especially China, had responded well to the global challenges of recent times and strengthened their economies, but the EU, by seeking a return to Maastricht criteria, could significantly harm its growth and the competitiveness of member states, he said.
He said Hungary had learnt that economic growth and peace hinged on international relations based on mutual respect. Hungary’s goal, he added, was to maximise the advantages of its good geographical position and become a meeting point for Eastern and Western economies and technologies.
Nagy praised the achievements of the Hungarian prime minister’s policy of opening to the East, noting that Hungary had managed to increase the proportion of direct investments from the East from 10 percent in 2010 to 34 percent today.
The government strategy, he said, was beneficial for the national economy, with exports expected to rise to 100 percent of GDP by 2030, while FDI was projected to double from the current 100 billion euros, Nagy said.
Additionally, the multiplier effect of FDI was also beneficial, he said, because through horizontal and vertical integration it enhanced research and development activities in cooperation with universities, while strengthening Hungarian businesses by linking them to supply chains in increasingly value-added positions, he said.
Also, the big expansion of logistics opportunities was expected to result in the sector expanding from 5 percent to 10 percent of GDP by 2030, he added.
He said Hungary was pursuing its own strategy and aimed to be a bridgehead between East and West. The development of the vehicle industry was a good example, he said, with German carmakers like Audi establishing links with Chinese battery makers such as CATL in Hungary, he added. Also, Chinese electric carmaker BYD is launching its first European production in Hungary, he said.
Nagy said Hungary was making every effort to enhance competitiveness, and he argued that the EU should also take urgent steps to strengthen new industries and competitiveness instead of seeking a return to the fiscal and financial criteria of 30 years ago.
Read also:
Budapest flight to popular Central Asian destination resumes – UPDATE
Direct flights to Uzbekistan from Budapest resume. According to the Aeroroutes schedule report, Qanot Sharq Airlines will re-launch its direct flight between Tashkent and Budapest in early summer.
Aeroroutes has announced that Qanot Sharq Airlines will re-launch its direct flight between Tashkent and Budapest, which was opened last year between 20 August and 10 September, at the beginning of the summer. Two flights per week are planned on the route with Airbus A320 aircraft.
The flight is not yet bookable in the booking system, but Budapest has been added back as a destination, Budflyer writes.
Planned schedule:
- HH411 TAS-BUD 09:10-11:40 Wednesday and Sunday
- HH412 BUD-TAS 13:00-22:00 Wednesday and Sunday
Last year, Qanot Sharq Airlines operated one weekly flight between 20 August and 10 September.
Earlier this year, the carrier also announced on its website the possibility of launching additional flights, including Prague, Seoul, Bangkok, Milan, Paris, Shanghai, Sanya, Bali, Kuala Lumpur and the re-launch of the Madrid route, Budflyer adds.
UPDATE: Direct flights to Tashkent from Budapest Airport
The Minister of Foreign Affairs has named the first day of the inauguration of the inaugural flight: Uzbekistan Hungary concludes important new agreements and resumes direct flights
Read also:
One week shutdown at the Suzuki factory in Esztergom -UPDATE
Suzuki has announced a temporary halt regarding the production of the Vitara and S-Cross models at its Esztergom plant for a week due to the recent events at the Red Sea, as stated in a company press release on Monday.
Therefore, these two models will not be produced for a week, starting from 15th January to 22nd January. This decision was made due to delays in the arrival of Japanese-made engines, Reuters wrote.
Magyar Suzuki Ltd., with a share capital of HUF 5.5 billion (EUR 14,503,447), was established in 1991, involving Suzuki of Japan, the Hungarian government, Itochu and the World Bank. The production of the popular Suzuki Swift commenced in 1992.
The Japanese car manufacturer has gained significant trust within the Hungarian market and has maintained its position as the market leader for seven consecutive years (2015-2022), currently holding the second place as of 2023.
In the latest announcement, Suzuki revealed plans to invest HUF 9.3 billion (EUR 24,524,011) in Hungary, allowing them to expand production capacity and establish a more sustainable, carbon-neutral Esztergom plant.
Red Sea and the Houthis
The Houthis, an Iran-backed rebel group, regard Israel as their enemy and are known for targeting ships passing through the Red Sea. Notably, they avoid attacking Russian and Chinese vessels. Although Iran denies involvement, there is clear evidence of Tehran’s support for the Houthis. Recent reports indicate that the rebels are employing Iranian drones to target not only merchant ships but also British and US military vessels.
Last week, Tesla and Volvo also announced temporary suspensions of production at their European factories.
As we wrote earlier, Hungary provides significant support for automotive promoters, details HERE.
In other news, a Chinese electric car brand is to be available in Hungary first in the region, find more information HERE.
UPDATE
Nearly two thousand workers will be directly affected by the production line shutdown, but the company stressed that this will not affect workers’ wages, according to VG.
Suzuki produces around 650 cars a day in Esztergom, so
the one-week shutdown will mean that around 4,550 vehicles will not be finished.
According to the factory, this shortfall will be made up later and in the future parts will be delivered via an alternative route.
The ships are being rerouted, and production is expected to resume on Jan 22, the company’s communications head said.
New flight announced to exotic Asian holiday destination from Budapest
ITAKA Airlines is launching an exciting new service connecting Budapest and Sri Lanka, an enchanting Asian holiday destination, until mid-March.
Until 19 March, you can travel every Tuesday with ITAKA between Budapest and Sri Lanka. You can explore the Asian island nation, uncover the secrets of tea plantations and ancient temples, admire the diverse wildlife and, if you seek relaxation, bask in the sunshine on white sandy beaches adorned with palm trees and coral reefs.
Route extensions to Asian holiday destinations
Another airline, Air China, is also expanding its flight offerings to Asia, increasing the frequency of flights between China and the Hungarian capital from two to three times a week starting in April.
As per the latest schedule update from Air China, commencing on the 4th of April, the Beijing-Budapest route will operate thrice weekly instead of the current bi-weekly schedule. The airline’s Boeing 787-9 Dreamliners will fly on Mondays, Thursdays, and Fridays, as reported by airportal.hu.
Flights CA 719 departure from Beijing at 02.50 a.m. local time and arrive in Budapest at 7.10 a.m. The return journey with CA 720 begins at 12.20 p.m., landing back in Beijing at 4.15 a.m. the following day.
Read also:
- EXCLUSIVE – Shareholder’s warning: Budapest Airport’s purchase may not happen
- Ryanair beats Hungarian Wizz Air in Budapest
Interview with South Korean Ambassador Hong on foreign policy, investment in Hungary and more
Our latest interviewee is His Excellency Dr Hong Kyu Dok, Ambassador of South Korea to Hungary. During the interview, we discussed the situation in North and South Korea, Korean investments in Hungary and many other topics. Read the first interview of the year:
Daily News Hungary (DNH): Having lived in Hungary for quite a while, could you tell us a bit about your experience? What characteristics stand out about the Hungarian people, and how would you describe life for a Korean national in Budapest?
Ambassador Hong Kyudok: I have been living in Budapest for about 11 months now. I feel grateful and am always amazed by the way Hungarians greet me and my wife. I am so delighted that many Hungarians have shown their great interests in Korean culture. I sincerely thank them from the bottom of my heart. The Korean population living in Hungary has increased rapidly. Currently, we have almost 7,000 Korean nationals living here. If we include the 90-day visa waiver holders, the number goes up to more than 10,000. They enjoy being here. The safe environment is the thing they like most, and friendly attitude toward Koreans are remarkable. Compared with densely-populated Seoul, many people from Korea think that life here is pleasant and happier. Your culture that respects the elderly and family remind me of Korea in old days, and we feel at home since we have many commonalities.
DNH: South Korea is a major investor in Hungary, consistently ranking in the top three and employing tens of thousands of people. What do you believe is Hungary’s allure? Why do so many Korean companies come here?
Ambassador Hong Kyudok: About 310 Korean companies are investing in Hungary and many more are interested in coming to Hungary. You may wonder why. Your policy incentives including low corporate tax surely attract Korean companies. However, a qualified workforce as well as loyalties and strong sense of responsibility are major reasons, and those Korean managers are looking forward to having more Hungarians. Supply chain network and good connectivity towards European market seems to be strong incentives for Korean managers, too.
DNH: This close business partnership not only fosters economic ties but also presents promising prospects for the tourism industry. Despite the geographical distance, direct flights facilitate travel. In what areas can the collaborative development between the two nations be further explored?
Ambassador Hong Kyudok: Seven direct flights per week between Seoul and Budapest seems to be a strong asset for expanding bilateral relations. Currently, EV-battery related companies are prominent among Korean investors. However, I see there is room for more development in such areas including health care industry, cosmetics, animation and filming, food distribution and gastronomy business. Also, Arms industry as well as Aerospace, AI and Robotics of the futrue technology seem very promising areas that both can benefit from each other.
DNH: Focusing on tourism, could you recommend three must-visit places in South Korea for Hungarian tourists? And what are three Hungarian tourist attractions you’d suggest to your South Korean friends?
Ambassador Hong Kyudok: Busan, Jeju and Seorak Mountain are my favorite places to recommend to my Hungarian friends. If I add one more place, I strongly ask you to visit the De-militarised Zone near Panmunjeom, a bordering place where North and South Korea maintains its strong military presence after the Korean War ended in 1953. It is only less than an hour drive from downtown Seoul. My recommendation for three attraction points for Korean visitors will be Tokaj wineries, Hévíz, Hot Springs near Lake Balaton, and Szeged, the sunniest city in the South. Most Koreans only visit Budapest and I would like to convince them to look around the countryside.
DNH: South Korea boasts one of the strongest economies in the world, yet the birth rate is alarmingly low. How might this be addressed, and could the Hungarian family support model serve as a potential example for your country?
Ambassador Hong Kyudok: Regarding the low birth rate, we have failed to counter this trend despite spending billions of dollars to cope with this worrisome situation. However, we now understand that subsidising the mother alone cannot solve the problem. We are looking closely at the Hungarian cases and to learn how CSOK measures made differences. Restoring family values and education seems key to success. However, in Korea, single housing comprises 43% and life seems very competitive to get better education and a quality job. Children start competition as early as pre-school age. The cost for private tutoring is usually more expensive than you earn monthly. That is why the birth rate is around 0.7 and even getting lower. We feel that demographic challenge is a security issue and needs to be reformed urgently. Therefore, Hungarian best practices are openly discussed at Parliament and the policy circle.
DNH: To consider having children, young couples need a secure future. South Korea is a peaceful country, but it is surrounded by China, which is besieging the status quo of the US, a belligerent Russia and North Korea, which poses an open threat. Japan is a refreshing exception. How do you assess the country’s current geopolitical situation?
Ambassador Hong Kyudok: South Korea has survived despite more than 931 foreign invasions. Korea maintains an open-door policy to export everything we have to almost every country in the world. In order to protect ourselves from nuclear and conventional provocations from North Korea, South Korea had to rely on the United States by strengthening a security alliance since the Korean War in 1950. We find that tri-lateral cooperation among U.S. Japan, and South Korea will be a keystone for securing ourselves. We never forget that during the Communist invasion 75 years ago, 22 countries send their forces and medical teams to rescue us to keep our freedom and democracy and more than 62 countries provided us with financial support. Korea embraces the Indo-Pacific Strategy and strives to contribute further to those people suffering from the scourge of war. Currently, the geopolitical situation creates huge challenges and difficulties, however, Korea is expanding its relations with the EU and NATO countries and seeks a strategic partnership with those countries including Hungary.
DNH: Amidst the constant readiness for geopolitical challenges, South Korea’s strong defense industry is indisputable. Our close ally, Poland, has recently shown increased interest in purchasing Korean combat vehicles and equipment.
Ambassador Hong Kyudok: We assisted Poland to equip themselves with arms to defend itself from potential threats. Our assistance is different from others since we can have them jointly develop arms together with us. I hope that we can jointly develop with Hungary if opportunity is given. We started from scratch in 1960s and are now the 6th largest arms exporter. I hope we can share our experiences and knowledges with Hungarians.
DNH: Considering the conflict between Russia and Ukraine, Hungary’s neighbour, how do you perceive the war, and are you providing any assistance to Kyiv?
Ambassador Hong Kyudok: I am afraid that the Ukrainian War will not be over soon. I hope that a peace proposal will be initiated soon to stop the suffering of the innocent people. As the Economist Robert Muggah precisely suggested, investing to build a post-conflict war zone must be a high priority. According to his study, 72% of the county after a cease-fire fell into another crisis very next year. In order to avoid this unfortunate pattern, the international community must make sure that real investment of reconstruction must be guaranteed by all means. South Korea increased its ODA twice to Ukraine and provided the K-600 mine-clearing vehicles and ambulances for evacuating wounded soldiers from the frontline. More aid will be made to replace electricity transformers to provide heat and light during the cold winter.
DNH: Returning to Hungary, higher education collaboration stands out as an excellent aspect of Korean-Hungarian relations. What makes Hungarian universities so appealing to Korean students?
Ambassador Hong Kyudok: Hungarian universities, particularly medical schools, music and dance and design schools are superb in terms of their quality and enjoy a global reputation. We have more than 750 medical students studying at Semmelweis, Szeged, Pécs, and Debrecen. However, we need to bring more qualified students and reseachers from South Korea. Dr. Ferenc Krausz, who won the Nobel Prize recently, taught in POSTEC in 2013-14 and we hope that vibrant research exchanges will take place from next year. Rector László Borhy of ELTE University, Rector József Fülöp of MOME, and Rector László Trócsányi of Károli Gáspár of Reformed University had all visited Korea to seek more students from Korean universities. I hope transactions will grow quickly in both ways.
DNH: It’s the New Year, what political or cultural events can we expect in Hungarian-Korean relations in 2024?
Ambassador Hong Kyudok: I appreciated very much that Hungarians had shown great enthusiasm to join our cultural programs provided by the Korean Cultural Center here in Budapest. We will have more diverse and quality programs ready for 2024. I hope you can continue to support us and participate in our more than 20 courses. I remember with fond memories that Kimchi making contest was absolutely fantastic. I hope that I can be part of the contest again soon.
DNH: Ending the interview on a lighter note, in terms of gastronomy, could you share your favourite Hungarian appetizer-main course-dessert combo?
Ambassador Hong Kyudok: I like green pea soup and lentil soup very much. Many Koreans think that Hungarians only eat goulash soup every day. It’s absolutely wrong. There are varieties of soup which attract me at every meal. I like pork loins, halászlé, and Hungarian potato dishes as a main course. As a dessert, I like floating island and Somlói the best.
Number of Filipino workers in Hungary revealed
Currently, there are nearly 10,000 Filipino migrant workers in Hungary, and this figure is expected to multiply by 2024.
Rowena Paragasa, Vice President of the Philippine Association of Employment Agencies (PASEI), said that there are currently 8-10,000 Filipino guest workers employed in Hungary. In Europe, there are about 100,000 Filipino workers, mainly in the health, manufacturing, hospitality and logistics sectors.
Filipino workers are in high demand within the labour market. Hungary offers a monthly pay of only EUR 550-600 compared to the range of EUR 1,500-1,700 in Western Europe. However, Hungary provides additional perks such as free accommodation, complimentary travel to the workplace and food subsidies.
The challenge in Hungary lies in the inability to settle here long-term, in contrast to Austria and Germany, HR Portal writes..
“Many cry with joy when they step on Hungarian soil. One of their first trips is to a Roman Catholic church. Those who arrived in the spring and summer have just seen snow for the first time in their lives,” says the manager.
Read also: