Participating in a two-day working visit in Tokyo, Minister of State for Economic Diplomacy Levente Magyar informed MTI in a phone interview that a Japanese automotive company is planning an investment of EUR 50 million (HUF 15.25 billion) and the creation of 200 new jobs in Hungary in the near future.
The Minister of State said that in addition to the automotive company, Japanese food company Nissin Foods that has operations in Kecskemét is also planning to double its capacity and create 200 new jobs.
Levente Magyar added that Diamond Electric, a company operating in Esztergom, also intends to start a development project worth millions of euros in the upcoming years.
The Minister of State declared that Hungarian-Japanese relations can be regarded as a success story of the ‘Eastern Opening’ policy. Japanese companies invested roughly EUR 1 billion and created nearly 4,000 jobs in Hungary in the past two years, and Hungarian agricultural exports to the East Asian island state increased by 70 percent last year, he said.
The Minister of State visited Japan on the occasion of an exhibition of agricultural products Foodex, where Hungarian Tourism Zrt. (Magyar Turizmus Zrt.), the Hungarian Embassy in Tokyo and the Hungarian National Trading House were also represented, primarily with meat and wine products.
Japan is the biggest market of Hungarian food products outside Europe. Hungary’s food exports exceeded USD 130 million in the first eleven months of 2014.
The Minister of State reviewed the bilateral relations with Parliamentary Vice-Minister for Foreign Affairs Minoru Kiuchi and Director-General for the Economic Affairs Bureau of the Ministry of Foreign Affairs Naoko Saiki on Monday. Levente Magyar noted that Hungarian-Japanese relations are not burdened with any open issues; they are characterised by increasing cooperation based on strategic partnership.