Hungarian investors eye Cebu’s agriculture, health sector
Hungarian Ambassador Titanilla Tóth speaking to Cebu-based investors during a business dinner led by the Hungarian government in Marco Polo Hotel, Cebu City on Nov. 12, 2024. | Morexette Marie B. Erram
CEBU CITY, Philippines — To bolster diplomatic and economic ties, the Hungarian government has invited Cebu’s business community to join the Hungary Business Council which will take place in Metro Manila this December.
A delegation from the Hungarian government visited Cebu on Tuesday, November 12, led by Hungarian Ambassador to the Philippines Titanilla Tóth and Honorary Consul to Hungary Joy Benedicto, in line with the celebration of the 50th anniversary of Hungary and Philippine relations.
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During their tour, they met with business leaders and entrepreneurs here and shared insights about Hungary’s economic landscape.
Tuesday’s activity was aimed at boosting economic activities between the two countries. It also had the biggest delegations Hungary sent to Cebu, said Tóth.
Aside from encouraging local entrepreneurs to venture to Hungary, the Hungarian Ambassador also revealed that investors from their country expressed interests in the agriculture and health care sector in Cebu.
In agriculture, Hungarian firms are looking at agricultural cooperation, research and trade.
Visayas also had a lot of potential in terms of the health care industry, Tóth added.
“There is (also) a market in Hungary for — definitely we talked today — about the medical sector. I think there’s a lot in potential for Visayas,” she said.
Additionally, Hungary could further tap into skilled workers from the Philippines to serve in factories not only in their region but also in the entire Central Europe, said Tóth.
On the other hand, the Hungarian government will be having this year’s Hungary Business Council on December 2nd and 3rd in Metro Manila.
Last year, a total of 24 representatives from Philippine firms joined a week-long tour in Hungary through the Hungary Business Council.
Tóth also said they looked forward to create further cooperations between Hungary and the Visayas region.
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