Corporate

Hungary's Acemil on Friday evening said it has signed a cooperation agreement with Chinese rolling stock maker CRRC Zhuzhou Locomotive.

Addressing a press conference during which the leaders of China's Huawei and Hungary's 4iG signed a cooperation agreement in Budapest, Marton Nagy, the national economy minister, said ties between China and Hungary had "always been strong" and would remain "unbroken in the future".

China's BYD is locating its first European electric car factory in Hungary, Peter Szijjarto, the minister of foreign affairs and trade, said on Thursday, adding that this would enhance the country's economic weight in the bloc.

Janos Boka, the minister in charge of European affairs, said on Tuesday that he had signed a strategic partnership agreement on behalf of his ministry with AmCham Hungary, the American Chamber of Commerce in Hungary.

Hungary's economy is ready for a new paradigm shift towards broadening research and development and boosting its technological level, Peter Szijjarto, the minister of foreign affairs and trade, said on Monday after meeting senior Microsoft executives.

An increasing number of Hungarian businesses are successfully entering the market in Uzbekistan, with the presence of Hungarian companies getting stronger in that country's banking sector, in food industry and the pharmaceuticals industry, the finance minister said at the Tashkent International Investment Forum.

The government signed a cooperation agreement with telecommunications company Yettel Magyarorszag and infrastructure company Cetin Hungary on Tuesday.

Hungarian Ganz Machinery Works has signed an cooperation agreement with its Tunisian counterpart on upgrading Tunisia's railways, the minister of foreign affairs and trade said in Tunis on Monday.

Currently there are some 6,000 billion forints (EUR 15.2bn) worth of Chinese investment projects under way in Hungary, creating 25,000 new jobs, the foreign ministry quoted Peter Szijjarto, the minister of foreign affairs and trade, as saying in Beijing on Tuesday.

British American Tobacco is expanding production in Pecs, in south-west Hungary, with a new 60 billion forint (EUR 152.4m) plant manufacturing smokeless products, creating 450 jobs, Peter Szijjarto, the minister of foreign affairs and trade, said in Budapest on Friday.