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The road from “made in Hungary” to “invented in Hungary”
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After achieving full employment, Hungary has a pressing need for the latest technologies, Foreign Minister Péter Szijjártó said in Beijing, adding that Hungary is interested in a free global trade and investments by Chinese companies.
Speaking at the Belt and Road economic cooperation forum on Thursday, Szijjártó noted that Hungary and China are celebrating the 70th anniversary of diplomatic relations this year, and said that bilateral ties have never been as good as now.
Szijjártó said that the Hungarian economy was leaving behind an era of “made in Hungary” and entering a new “dimension” of “invented in Hungary”.
The focus is no longer on creating a large number of new jobs but increasing the market share of modern technologies, he added. The minister argued that the era of western investment directed at cheap labour in the east was over, and insisted that “the pace of global economic changes is at least as much dictated by the East as by the West”. Hungary is interested in opening to the east and in attracting investment from China, for which Hungary offers “a rather attractive environment” of low taxes and flexible labour laws.