STORY: Hungary welcomes more Chinese investment: HIPA's chief
SHOOTING TIME: Feb. 20, 2024
DATELINE: May 3, 2024
LENGTH: 0:01:29
LOCATION: Budapest
CATEGORY: ECONOMY

SHOTLIST:
1. various of Hungary
2. SOUNDBITE (Hungarian): ISTVAN JOO, CEO, Hungarian Investment Promotion Agency
3. various of Hungary
4. various of China 

STORYLINE:

Istvan Joo, CEO of the Hungarian Investment Promotion Agency (HIPA), has commended the contribution of Chinese investment to Hungary's economic development.

Figures published by HIPA indicate that Hungary received a record volume of 13 bln euros (14.1 bln U.S. dollars) in foreign direct investment last year, including 7.6 billion euros from Chinese investors.

SOUNDBITE (Hungarian): ISTVAN JOO, CEO, Hungarian Investment Promotion Agency
"Undoubtedly, the policy of opening to the East has borne fruit. 82 percent of this FDI stock has now come from the East, primarily from China. We are very proud of last year's results, with investments reaching 13 bln euros (14.1 bln U.S. dollars). The goal of the Eastern opening policy was to develop a much more intense economic cooperation with the Eastern countries, primarily with China.
The excellent political relations are precisely known by the investing Chinese companies. They know that a friendly atmosphere welcomes their investments in Hungary.
Therefore, it is a special joy for us that BYD eventually chose Szeged, where there is still available labor reserve. The automotive industry, and the entire supply chain associated with it are extremely determinative for the Hungarian economy. We know that China now has some of the most modern technologies, so we count on further Chinese investments."

Xinhua News Agency correspondents reporting from Budapest.
(XHTV)