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Chinese Companies Could Invest EUR8-10bln in Hungary

HUNGARY
  • Talks are currently under way with four large Chinese companies that could result in EUR8 - EUR10bln of investment in Hungary, Foreign Minister Szijjarto said as cited by MTI after talks with Wang Yi, the director of the Central Foreign Affairs Commission of the Chinese Communist Party.
  • Szijjarto met with Wang Yi in Budapest on Monday, according to MTI. Szijjarto said Hungary's economy has "profited immensely" from the far-reaching, strategic cooperation established between Hungary and China in recent years. Szijjarto and Wang Yi confirmed that Hungary and China are "on the side of peace" in the matter of Ukraine and both countries are ready to cooperate with other countries to reach a diplomatic solution to the conflict.
  • Navracsics, Hungary’s minister responsible for EU funds, said he expects a deal with the bloc to be done next month, business news website Vg.hu reported yesterday. “I am more optimistic… I trust that the legislative package will be a good enough solution for the committee and an agreement will be reached, which we will accept in March and we can move on,” Navracsics said.
  • There are no major economic releases or speakers scheduled today.

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