PM Orban: Capital Accumulated in Hungary Already Seeking Investment Opportunities Abroad

We are here because Hungary has accumulated capital that is now looking for investment opportunities outside Hungary, Prime Minister Orban said on Friday in Bosnia's Banja Luka, at the opening of a business forum organized by Hungary and the Republika Sprska.

Hungarian PM Viktor Orban speaks at a business forum organized by Hungary and the Republika Sprska in Banja Luka, on April 5, 2024. (Photo: MTI/PM's Press Office/Zoltan Fischer)

Speaking to business leaders, PM Orban recalled that there used to be two borders between Hungary and Bosnia-Herzegovina. "We already abolished one of these, so there is no Croatia-Hungary border, there is only Schengen," he highlighted. The Hungarian highway is nearing completion to the Croatian border and "the Croats are also making efforts," so the two countries will soon be linked by a highway, Hungary's prime minister said.
He observed that Banja Luka and its surroundings appear well-organized, boasting large ports, adding that the country has a future, "because the future of the economy always depends on the quality of people, and the environment is the expression of that". If politics can stabilize this region, then it will foster a predictable economic environment here, Mr Orban said.

He pointed out that economic forecasts in Western Europe indicate a very low growth potential, with Germany currently experiening a recession. Boasting a growth rate of 2,5 percent this year, Hungary is "king", he said. PM Orban emphasized that the dynamism of the European economy is presently centered in the Balkans, arguing that here, "people want to, and are able to work." Noting the region's developed industrial and agricultural culture, akin to Hungary's, he underscored an active will for cooperation.

There is a "counter-argument in the business world that this is the most complicated state in the world", Mr Orban continued, acknowledging its validity for Sarajevo, but not for Banja Luka, where tasks can be accomplished, thus alleviating fears of bureaucracy.  PM Orban expressed belief in the region, recxalling that 14 years ago the Hungarian economy was in a dire situation and 70 percent smaller, in terms of its size, than it is today. Since then, Hungary has embarked on a journey that is also repilicable for others, so "this type of dynamism and development can also be achieved here", he stressed.
He noted that 14 years ago Hungarian companies would not have been here because Hungary was an extremely capital-poor country.

Today we have regional champions,

and around 1,500 companies that are able to invest abroad, Hungary's prime minister said. He continued by stressing that Hungary was a country proud of its history, its culture and its nation,

Hungary belongs to the Hungarians, therefore we expect foreigners to behave like they should.

When it comes to economic decisions, Serbia's government will clearly pinpoint the sectors where Hungarians are welcome, and 'we won't target" all the others, where they don't want competition, Mr Orban said. This country belongs to the Serbs," so the Hungarian companies present are working in areas have been designated by the Serbs, he said.

It is important that we should be accepted by locals, and that they feel that we bring them opportunities to areas where there is a need for investment and development.

- Mr Orban stressed.

He encouraged Hungarian companies to set up joint ventures. "This is a two-way street", Mr Orban said, indicating that Hungary was waiting for Serbs "both as employees and as entrepreneurs", because "cooperation does not take away opportunities, it creates them."

Cover photo: Hungarian PM Viktor Orban speaks at a business forum organized by Hungary and the Republika Sprska in Banja Luka, on April 5, 2024. (Photo: MTI/PM's Press Office/Zoltan Fischer)