Hungarian Conservative

A Ministry of National Economy statement released on Wednesday confirmed that the repurchase of the Ferenc Liszt International Airport continues to progress as scheduled, as opposed to press rumours.

The signed contract consists of a basic order for nine vehicles and options for up to four additional vehicles. GYSEV has three months from the contract’s start to decide how many option trains to order from Stadler.

Head of Rheinmetall Power Systems division Christoph Müller noted at the ceremony that Szeged will be the group’s first hybrid site, where the civil business and defence technology activities will operate under one roof. The initial step will be the construction of a 15,000 square metre plant on the 85,000 square metre area adjacent to the ELI ALPS laser research centre, providing jobs for three hundred highly skilled professionals.

Minister for National Economy Márton Nagy presented the new competitiveness strategy for 2024⁠–⁠2030 adopted by the government at a press conference held in Budapest on Monday. According to him, economic growth between 2 to ⁠3 per cent is expected this year.

The once-forgotten, dusty, and dilapidated sites of Hungary are gradually reopening, providing entertainment, culture, and educational opportunities for visitors and income from tourism for local residents.

Following talks with his Thai counterpart, Minister of Foreign Affairs and Trade Péter Szijjártó revealed that tourist traffic between the two countries has doubled, with more than 10,000 Thai tourists visiting Hungary last year, while more than 30,000 Hungarians travelled to Thailand.

At a press conference titled Park City or Rákosdubai, Budapest Mayor Gergely Karácsony stated that in April they will launch a month-long online voting process where every Budapest resident over the age of 14 with a registered address can express their views on the investment plans for Rákosrendező.

The two-hundredth aircraft has arrived at Wizz Air, reducing the average age of the airline’s fleet to 4.2 years. The new Airbus A321neo model is joining the London–Luton airport base, the company announced.

According to the announcement, during restoration work in the Veszprém Castle, a painting showing the Evangelist Luke was found in the St Emeric Church, while a figure depicting an Austrian soldier was discovered in the Tejfalusy House, a building that previously functioned as a canonry.

The Hungarian Post issued its eleventh stamp series featuring motifs from the Chinese horoscope, celebrating the upcoming Year of the Dragon, which commences on 10 February.

The agency expects substantial foreign investments in battery production to further attract funding, leading to increased job creation, technological advancements, and enhanced exports. Scope Ratings emphasized that Hungary’s BBB credit ratings are reinforced by the robust structure of external and public liabilities.

In his remarks at an economic conference held in Sopron on Saturday, Government Commissioner for the Development of Modern Settlements Alpár Gyopáros emphasized the pivotal role of villages in shaping the future of Hungary, citing their ability to provide a quality of life and a sense of community that urban environments often lack.

The minister stressed the importance of maintaining disciplined fiscal policies this year, aiming for an annual average inflation rate of around 5 per cent. He firmly asserted that until the inflation rate returns to a more moderate range, fiscal spending should be limited.

Balázs Hankó underscored Hungary’s strides in scientific and educational excellence, noting that 12 Hungarian universities now rank among the top five per cent globally. He outlined ambitious goals, aiming for one Hungarian university to enter the world’s top 100 by 2030, with three making it into the top 100 institutions in the European Union.

Hungary’s commitment to significantly enhancing educator salaries not only acknowledges the invaluable contribution of educators but also aims to bolster the quality of education by attracting and retaining top talent in the teaching profession. The decision comes as part of Hungary’s broader efforts to navigate pandemic challenges and foster a robust recovery in the education sector.

According to the Hungarian Prime Minister, it is ‘easy to predict’ that Vietnam will emerge as one of the winners of the coming era. ‘Such transformations herald opportunities as well as risks. We see the new world economic era as an enormous opportunity for Hungary, since Hungarians are an Eastern people by origin,’ Viktor Orbán nailed down.

The C–17 Aircrew Training System (ATS) Simulator is a sophisticated and comprehensive training platform designed to enhance the proficiency of aircrews operating the Boeing C-17 Globemaster III, a large military transport aircraft.

According to the ten-page study by the international credit rating agency, the stable outlook is supported by the region’s expected robust macroeconomic performance. In addition, the economies of the countries in the region have been relatively resilient to the European energy supply crisis.

The NFI’s decision-making committee voted to support the production of six different television works.

Péter Szijjártó pointed out that Hungary managed to achieve great results despite the fact that the global economy underwent significant crises last year, as indicated by global data. The amount of investments made worldwide decreased by 12.5 per cent from 2021 to 2022. In the first half of last year, an additional 30 per cent decrease was recorded.

Back in May, Prime Minister Viktor Orbán mentioned at the Qatari Economic Forum that there is interest from Qatar towards Budapest Airport, and ‘we would welcome them.’ Now, it appears that the Qatar Investment Authority is joining the deal as a financial or strategic investor, and the possibility of a third terminal is also being considered.

The proprietary coating by Resysten, which is invisible, colourless, and odourless, provides protection between cleaning intervals, ensuring the well-being of passengers and the company’s employees even during busy festive periods.

BYD, the world’s leading electric vehicle manufacturer based in Shenzhen, China is opening a new factory in the southern Hungarian city of Szeged. Foreign Minister Péter Szijjártó has called it ‘one of the biggest investment projects in Hungary’s history’.

According to a statement from the ministry, Péter Szijjártó stressed that the German-owned ZF Chassis Modules Hungary Ltd will manufacture shock absorbers, as well as front and rear axles for electric cars produced from 2025 at the BMW plant in Debrecen and the Mercedes plant in Kecskemét.

At the inauguration ceremony of the new unit at the Dunaharaszti plant of Coca-Cola HBC Hungary, Minister of Foreign Affairs and Trade Péter Szijjártó highlighted that US companies now constitute the second largest community of investors in Hungary.

This year, Hungary is set to break both investment and export records, with incoming foreign direct investment doubling from the previous year to €13 billion and Hungarian exports increasing from €142 billion in 2022 to €150 billion.

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.

Alongside the distribution of laptops that started last year, more than 4,000 locations have been equipped with wireless internet access, and with a budget of 10 billion forints, the electrical networks of the relevant institutions have been renovated.

On the margins of the sixth China International Import Expo, Economic Development Minister Márton Nagy held talks with the leaders of the Industrial and Commercial Bank of China (ICBC), the world’s largest commercial lender, emphasizing Hungary’s aim of becoming a regional financial hub in addition to being the meeting point for Eastern and Western capital and cutting-edge technology.

The state secretary articulated the vital goal that the number of university graduates among the Hungarian diaspora should exceed their representation within their respective countries, with universities becoming cultural hubs for Hungarian communities abroad. He called the opening of the Márton Áron College’s renovated building a defining moment in infrastructure development.