Minister of Innovation and Technology László Palkovics received a delegation of 30 representatives from the US-Hungarian Business Council (USHBC) on 17 October 2018. At the meeting, the Minister briefed the delegation on the most important measures introduced by the Ministry of Innovation and Technology, with relation to which the parties discussed further opportunities for cooperation.

At the meeting, the American party told the Minister that the members of the US-Hungary Business Council have positive experiences with relation to Hungary’s business environment. The representatives of the various companies, with several profiles including amongst others the fields of military and vehicle technology, the pharmaceutical industry, biotechnology and the baking and financial services sector, met with the Minister to showcase their activities and their Hungarian interests, and to gain a greater insight into the structure and main goals of the Ministry of Innovation and Technology.

Mr. Palkovics informed the American party with relation the Ministry’s most important measures, explaining that the goal is to increase the productivity and innovation capabilities of Hungarian enterprises, which the Hungarian Government is striving to achieve, amongst others, via the establishment of an Innovation Fund, the restructuring of the research network, supporting vocational training centres and cooperation between higher education institutions, the development of transport and info-communications infrastructure, and the founding of the Artificial Intelligence Coalition. In reply to a question from the American delegation, the Minister explained that innovation not only relates to products and services, but also means the development of procedures and a change in approach.

The members of the Council welcomed the Hungarian Government’s measures aimed at developing enterprises and promoting research and development activities, and expressed their openness to further tightening American-Hungarian cooperation.

The third Budapest business mission of the US-Hungary Business Council (USHBC) is being held on 17-18 October 2018. Within the framework of the visit, the leaders of thirteen major U.S. corporations will be holding talks with Hungarian officials and businesspeople. The goal of the USHBC, which has been operating since February 2016, is to facilitate active dialogue between the Hungarian Government and the American business community.

((Ministry of Innovation and Technology))