Edward Yau Tang-wah, the Hong Kong Secretary for Commerce and Economic Development has led a business delegation from the  Hong Kong Trade Development Council (HKTDC) on a 2-day visit to Budapest, it  has been reported.

The Hungarian news agency MTI reports that the delegation has scheduled meetings with top executives of various financial and investment firms and Hungarian companies as well as with top Government officials based in the Ministry of  Foreign Affairs and Trade and the Ministry of Finance.

The group were also planning to visit the National Bank of Hungary (MHB), Johnson Electric Hungard (an automotive supplier) and BILK, the rail cargo terminal.  Talks with HIPA (The Hungarian Investment Promotion Agency) representatives was also on the agenda. 

Around 30 start-up owners and executives made up the  HKTDC delegation and included representatives from sectors including, finance, infrastructure development, legal, insurance, accounting, technology and commerce.

Gábor Gion, state secretary at the Ministry of Finance, met with Yau on Thursday.  He indicated that Hungary could offer a very favourable investment opportunity for Hong Kong.  Hungary offers a good infrastructure and skilled workforce.  It also has the advantage of its geographical location and is consolidating itself as a centre for commerce and finance.  Companies from Hong Kong already have plants based in  Hatvan, Ózd and Miskolc.

The HKTDC has maintained an active presence in Hungary since 2015.  It was established as a  statutory body  in 1966 with the aim to develop, assist and promote trade for Hong Kong.