Oct 11, 2019 - Zoltán Kovács

PM Orbán: Hungary-US cooperation “a story of success”

The US is the biggest, non-European investor in Hungary, as top American businesses in IT, agriculture, military, energy, and manufacturing continue to benefit from the country’s low taxes and highly skilled workforce. Expectations indicate that the solid partnership between the two countries will see continued growth.

“The US-Hungary cooperation is a story of success,” in terms of business, defense, and also – especially since President Donald Trump entered office – in political terms, PM Orbán said following his meeting with a delegation from the US-Hungary Business Council.

Prime Minister Viktor Orbán, Foreign Affairs and Trade Minister Szijjártó, and Finance Minister Varga met yesterday in the Carmelite Monastery with Eric Stewart, president of the US-Hungary Business Council, or USHBC, an organization of 30 major US companies with investments of at least USD 1 billion in Hungary. This was the fourth visit arranged by USHBC bringing prominent American business leaders to Hungary.

Praising the significance of US-Hungary ties, the prime minister noted that the United States is the biggest, non-European investor in the country: some 1,700 US companies employ more than 106 thousand Hungarians.

In an interview with Hungarian news portal Origo, Eric Stewart said that these 30 US companies have come to deliver the message that Hungary is on the right track, especially with regards to IT, agriculture, and manufacturing sectors. According to the USHBC president, cooperation in military and energy industries still have huge potential as well.

When asked what makes Hungary so attractive to US investors, Stewart said that while Budapest serves as a bridge between Western and Eastern Europe, Hungary’s low corporate taxes and highly skilled, innovative workforce also act as powerful pull factors. The Hungarian government, he added, provides beneficial investment opportunities through the Hungarian Investment Promotion Agency (HIPA).

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