Hungary is looking at the Philippines as a strategic partner to deepen its presence in Southeast Asia.
During the recent Philippine-Hungary Business Forum at the Sheraton Manila Hotel, Board of investments (BOI) of the Philippines and Hungary Ministry of Foreign Affairs and Trade agreed to further bolster bilateral relation. The event, aimed at strengthening trade and investment relations between the two countries, focused on key sectors such as electronics and semiconductors, IT-BPM, and software development.
Ministry of Foreign Affairs and Trade Deputy State Secretary for External Economic Relations Katalin Bihari emphasized Hungary’s commitment to strengthening its presence in Southeast Asia with the Philippines as a strategic partner. She remarked, “The volume of trade between Hungary and the Philippines in the last year amounted to more than USD 199 million, but we believe that there is still more room for improvement. The main purpose of our business forum today is to work on it and achieve further results.”
“We are witnessing growing synergies between our countries, and we also see that Hungarian businesses are increasingly interested in the vibrant and diverse market of the Philippines, while at the same time Filipino entrepreneurs are also recognizing the strategic advantages that Hungary, as a hub, can offer,” she said further.
On the part of the Philippine government, Rodolfo highlighted the transformative changes taking place in the Philippine business environment through the CREATE Act and CREATE MORE, which offer long-term fiscal incentives, along with green-lane facilitation for expedited investment approvals, creating a competitive and investor-friendly business environment.
He further expressed his optimism for future partnership opportunities, saying, “To our Hungarian partners, the Philippines offers immense opportunities for growth, collaboration, and innovation. I am confident that this collaboration will yield mutual benefits. I look forward to today’s discussions and the partnerships they will inspire.”
Ambassador Titanilla Tóth of the Embassy of Hungary in the Philippines and Philippine-Hungarian Business Council lead Perry Ferrer also provided messages of support, emphasizing the mutual benefits of enhanced economic cooperation between the two nations.
The Hungarian delegation comprised of five companies in security printing, IT, agriculture, healthcare, and smart cities, represented by Mr. M. Zoltan Fejes of Any Security Printing, Mr. Roland Borbely of Bluespot, Mr. Evaristo Macalino of Balbona Tetra, Ms. Marvi de Guzman of Kuube, and Mr. Rodney Hall, Chairman of Bromhead Holdings Inc./ Reysten (healthcare – antimicrobial solutions).
From the Philippine side, Philippine Software Industry Association (PSIA) Board Director Ramil Villanueva and Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) President Dan Lachica presented on the sectoral opportunities in the IT and software development, and electronics and semiconductor industries, respectively.
In addition to the presentations on investment opportunities, the event provided a networking activity, enabling Filipino and Hungarian enterprises to connect and discuss potential collaborations. Notable Philippine government agencies and private sector in attendance include the Bases Conversion and Development Authority (BCDA), the Public-Private Partnership Center (PPP), AgriNurture Inc., Philippines Association of Services Exporters Inc. (PASEI), AC Mobility, BDO Unibank Inc., The Vegan Grocer, and Velocity Cybersecurity Solutions.
