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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…

Hungary Emerges as a Top Performer in EU Fund Utilization

Despite constant criticism from the left, Hungary is one of the few EU countries that have managed to fully draw down the EU funds for the 2014–2020 period. The €32.08 billion has been allocated to several tangible projects in recent…

Groundbreaking Quantum Microscope Development Unveiled by HUN-REN Wigner Research Centre

The project involves the design and implementation of special measurement methods for the quantum microscope, which, according to their knowledge, would introduce a unique device to the market, as no quantum sensor combining such components currently exists….

Hungarian-American Chamber of Commerce Commences Operations in Chicago

The establishment of the Hungarian-American Trade Chamber–Chicago was underscored as a pivotal moment in promoting Hungarian-American economic collaboration….

Overwhelming Majority of Hungarians Support the Development of the Defence Forces

A recent survey revealed that three-quarters of Hungarians (76 per cent) support the purchase of modern military technologies and the pay hike for soldiers, while two-thirds (69 per cent) are in favour of increasing the size of the defence forces….

Liget Budapest Project Triumphs as Europe’s Premier Tourism Development

Termed the ‘Oscars of tourism,’ this accolade not only crowns the Liget Budapest Project as Europe’s most comprehensive cultural urban development but also positions it as the paramount tourism development globally….
Finance Minister Mihály Varga at the award ceremony recognizing the best service dogs of the Hungarian National Tax and Customs Administration on 14 June 2022.

Tax Authority’s Shift to a Customer-Focused Mindset Has Proven a Success

Speaking at the National Tax Consultation event organized by the National Tax and Customs Administration (NAV), Finance Minister Mihály Varga stated that with the change in the tax authority’s mindset, NAV has succeeded in becoming a customer-friendly office. He highlighted…

Revolutionizing Energy Storage: Debrecen Researchers Unveil Advanced Zinc-Based Battery

The researchers affiliated with the applied chemistry department of the University of Debrecen have been engaged in a prolonged exploration of the usability of renewable energy and its storage possibilities….
The building of the Mercedes plant in Kecskemét.

Government Launches Automotive Supplier Development Programme

On the basis of the ten-point proposal developed by the Ministry of Economic Development, the Hungarian government is launching a 2.9 billion forint Automotive Supplier Development Programme to enhance the role of Hungarian businesses as suppliers of multinationals in Hungary….

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