articleimg-1
Apr 26, 2019

Finance Minister: V4 economic weight gaining in strength

The finance minister said the Hungarian economy offers investors a growth rate three times above the EU average, an improving business environment and lower taxes

The finance minister has highlighted how Hungary and Central and Eastern Europe are the engine of the continent’s growth, and therefore companies from the Far East are bringing more and more investments to the region.

Mihály Varga made the announcement during a press conference held in Pozsony (Bratislava) after a meeting of the Prime Ministers of the Visegrád Group and Japan.

According to Kormany.hu, the finance minister stressed that by strengthening the cooperation between the Visegrád countries and Japan, we are connecting together two advanced and rapidly growing regions of the world economy which could further enhance our region’s economic stability and role in the European Union.

The minister highlighted that the EU and Japan are strategic partners and allies in many respects, and a number of cooperation schemes could start between our countries in the fields of science, research and innovation. He added that it is an important result that Japan and the EU entered into a Strategic Partnership Agreement and a trade deal which connects together the world’s two highest performing economic regions.

Minister Varga said that Japanese companies operating in Hungary had played an important role in the economic results which Hungary had achieved in recent years. The minister added that the Far East island state is the most important Asian investor in Hungary, more than 160 businesses with Japanese interests operate in Hungary.

The minister pointed out that the Hungarian economy offers investors a growth rate three times above the EU average, an improving business environment and lower taxes, all of which combined attracts further Japanese investments to Hungary.

Minister Varga concluded that there was an agreement with Japan that the migration crisis can be resolved through the comprehensive protection of external borders and assistance provided on the ground, rather than by supporting immigration.