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Manila Bulletin devider Philippines devider National devider Hungary urged to invest in Philippines

Hungary urged to invest in Philippines

Published Jun 13, 2024 02:42 pm

Foreign Affairs Secretary Enrique Manalo on Thursday, June 13, urged Hungary to invest in the Philippines, particularly in the fields of agriculture, information and communications technology (ICT), and digital and water technologies.

In a bilateral talk with Hungarian Foreign Minister Peter Szijjarto, he also urged his counterpart to explore investment possibilities on renewable energy, green metals, electric vehicle manufacturing, and smart and high-tech light manufacturing.

In his remarks, Manalo said he also thanked Hungary for its support for the resumption of a free trade agreement (FTA) between the Philippines and the European Union (EU).

The Philippine diplomat said Manila is confident that Hungary's upcoming presidency of the EU council, the Philippine-EU talks on FTA "will gain further momentum."

"We are optimistic that it will also pave the way for a deeper collaboration between the EU, ASEAN and the Philippines in promoting respect for international law and enhancing joint initiatives in the areas of trade, investment, and climate change," Manalo said.

There are also other areas of partnership that Manalo and Szijjarto discussed during their meeting.

Manalo cited the education ties between the two countries, considering that "Hungary is also one of our active partners in higher education."

"The Stipendium Hungaricum Programme has been truly beneficial to the Philippines, annually offering 35 scholarships to Filipinos in such vital fields as natural sciences, agriculture, and public health among others," he said.

As of now, 142 students have already completed the program, according to Manalo. 

"We also welcome our active cooperation in Science and Technology, with particular focus on Sustainable Agriculture, Info-communication Technology, and Quantum Technology," he said.

"Hungary has a rich history in the field of science and technology, and we hope to tap into that vast wealth of knowledge and expertise," he added.

Szijjarto was in Manila for the 8th iteration of Philippines-Hungary Political Consultations. His latest visit was his third one after flying to the Philippines in 2017 to meet Manalo, who was then an acting Foreign Affairs secretary, and in 2020 to engage with former DFA chief Teodoro Locsin Jr.
 

"I am confident that we can further strengthen our ties and collaborate for the mutual benefit of our nations," Manalo said.

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