The head of the Hungarian Investment Promotion Agency, Jo Istvan, recently stated in an interview with Xinhua News Agency that Hungary attracted a total of 13 billion euros in foreign direct investment in 2023, which is double the previous year. Among them, investment from China plays a positive role and is helping to accelerate the development of the Hungarian economy. According to data released by the Hungarian Investment Promotion Agency, China's direct investment in Hungary last year was 7.6 billion euros, accounting for 58% of Hungary's total foreign direct investment attraction and creating over 10000 job opportunities. This is also China's second largest source of foreign investment in Hungary since 2020. Jo Istvan said that after years of effort, Hungary's "opening up to the east" strategy has come to fruition. Under this policy guidance, Hungary's economic and trade exchanges with Eastern countries have become increasingly close, especially with China's cooperation gradually deepening. Thanks to the friendly relations between Hungary and China, more and more Chinese companies are coming to Hungary for investment and development. Jo Istvan emphasized that Hungary's favorable business environment provides convenience for the development of Chinese enterprises, and Hungary's corporate tax is relatively low in Europe. At the same time, Hungary, as a bridge of technological convergence between the East and the West, helps Western car manufacturers and Chinese battery manufacturers achieve cooperation and showcase their strengths. Hungary's advantages in geographical location, logistics network development and layout, and labor force all play an important role in the investment decision-making process of enterprises. Jo Istvan said that the automobile manufacturing industry and its entire supply chain play a crucial role in the Hungarian economy, creating a large number of job opportunities and having a profound impact on the country's economic development. He emphasized that one of the important functions of the Hungarian Investment Promotion Agency is to guide new investors to invest in areas where Hungary still has a large labor reserve. Therefore, the Hungarian side is very pleased to see that BYD ultimately chose to invest and establish a factory in the southern Hungarian city of Seged. Jo Istvan said he believes that the Chinese economy will continue to thrive, and "we look forward to China further increasing its investment in Hungary.". (Lai Xin She)
Edit：Yi Jing Responsible editor：Li Nian
Source：XinhuaNet
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