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WTO Deputy Director-General Praises Hungarian Economic Neutrality

Deputy General-Director of the World Trade Organization Zhang Xiangchen praised the Hungarian strategy of economic neutrality, stating that it is the way forward. Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó highlighted that the Hungarian government is fully committed…

Budapest to Expand Fleet with 70 New Electric Buses by 2026

From the spring of 2026 Budapest will welcome 70 state-of-the-art, environmentally friendly, low-floor, fully electric buses to its transport fleet, as announced by the Centre for Budapest Transport (BKK). The buses will operate primarily on key routes crossing the city’s…

László Kövér Hails Deepening Cooperation in Hungarian–Chinese Anniversary Speech

Hungary and China are celebrating the 75th anniversary of the establishment of diplomatic relations between the two countries in 2024. To mark the occasion a reception was held in Budapest, where House Speaker László Kövér stated that the deepening of…

POLITICO’s Double Standard Strikes Again — BYD Is Good for Euro 2024, But Not for Hungary

In a recent article, POLITICO Brussels criticizes Hungary for its close economic ties with China but fails to mention that one of the main sponsors of Euro 2024 in Germany is the Chinese company BYD. In fact, the number one…

Hungary to Join Global Top Five in Automotive Production with One Million Cars Annually

‘Within a few years, Hungary will be among the five countries in the world capable of manufacturing over one million cars annually,’ Péter Szijjártó stated, announcing a new investment in Zalaegerszeg by US Flex….

Hungary Has Become the Most Attractive Investment Location in Eastern Europe

Hungary is the most attractive investment location in the Eastern Europe and Central Asia region according to Site Selection Magazine’s Global Best To Invest. In recent years, Hungary has experienced a significant surge in investment from Eastern countries, particularly China,…

Budapest Will Offer Direct Flight to Chinese Industrial and Financial Hub, Xi’an

Six direct flights will connect Hungary and China starting this summer, following Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó’s announcement in Beijing on Tuesday of a new service from Budapest to Xi’an. Direct connectivity plays a vital role…
Prime Minister Viktor Orbán (C) and Young Hyun Jun (C-R), CEO of Samsung SDI, plant trees at the opening ceremony of Samsung’s factory in Göd, Hungary on 29 May 2017.

Major Investments in Hungary — A Brief Overview

About 5 per cent of the Hungarian GDP is generated by the auto industry, therefore, initially, the EU’s decision to ban the sale of all new combustion-engine cars in 2035 was met with resistance in Hungary. Due to the ban,…

Preliminary Sales Agreement for the Szeged BYD Car Plant Signed

László Botka, the mayor of Szeged, called the signing historically significant for both the city and Hungarian economic history. He welcomed the close cooperation between the Szeged local government and the government on the matter, saying that the common goal…

Chinese BYD Plant to Start Production by Second Half of 2025

According to press reports, BYD Auto Hungary has been registered with a capital of approximately HUF 192 billion, which is twice the annual budget of the city of Szeged, where the Chinese auto giant’s new plant is scheduled to begin…

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