Business infrastructure

Hungarian-American business relations may become closer

The delegation of the U.S.-Hungarian Business Council was received by Minister of Defense Tibor Benkő on Thursday in Budapest.

The head of the ministry informed the US delegation about Hungary’s security environment, its defense policy, the Defense and Armed Forces Development Program, and the related US-Hungarian defense procurement.

Representatives of eleven US companies operating in the fields of military and automotive technology, pharmaceutical industry, biotechnology, banking and financial services presented their activities and interests in Hungary.

The Minister said that the Hungarian government was committed to modernizing the Hungarian army. On the one hand, it is a duty in the face of a deteriorating security environment, and on the other hand, it offers a historic opportunity to rearm its forces.

He also pointed out that it is an international obligation to improve the Hungarian Armed Forces, to further strengthen the security of our NATO and EU allies. He talked about the Defense and Force Development Program, which is the most comprehensive and complex defense development program in decades and enjoys the moral and financial support of the government.  The goal is to create a decisive, modern, strong and capable force at the regional level that meets the requirements of this age and is able to deal with current security challenges, he added.

The organization’s chairman, Eric Stewart, spoke about USHBC’s appreciation of the predictable, stable and transparent investor and business environment created by the Hungarian government.

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