A recent business forum hosted by the Board of Investments (BOI) highlighted the growing interest of Hungarian businesses in the Philippines’ technology and manufacturing sectors.
The event, held on Dec. 3, 2024, brought together key government officials, industry leaders and business representatives from both countries.
BOI managing head Ceferino Rodolfo emphasized the Philippines’ attractive investment climate, citing the CREATE Act and CREATE MORE laws as key drivers of economic growth.
These legislative reforms offer long-term fiscal incentives and streamlined processes for investors.
“The Philippines offers immense opportunities for growth, collaboration, and innovation. I am confident that this collaboration will yield mutual benefits,” said Rodolfo.
Hungarian deputy state secretary for external economic relations of the Hungarian Ministry of Foreign Affairs and Trade Katalin Bihari noted the increasing interest of Hungarian businesses in the Southeast Asian market.
“We believe that there is still more room for improvement in our bilateral trade relationship. The main purpose of our business forum today is to work on it and achieve further results,” she said.
The Hungarian delegation consisted of five companies specializing in security printing, IT, agriculture, healthcare and smart cities. These companies expressed interest in exploring potential partnerships with Philippine firms.
The forum was part of the 6th Philippines-Hungary Joint Commission on Economic Cooperation (JCEC), which discussed a wide range of sectors including labor, manufacturing, water treatment, agriculture, ICT, transport, education, culture, tourism, sports and health.