Orbán Cabinet Achieves First Victory in Stopping Price Hikes for Mobile, TV, and Internet Services
The Hungarian government commends telecommunications companies for their voluntary decision to freeze prices for subscribers, as announced by the National Economy Ministry on Friday.
The ministry highlighted that major telcos in the country have canceled planned fee increases linked to inflation and have committed to keeping retail rates stable for at least a year. This move was praised as a significant contribution to the fight against inflation. The ministry stated that it will closely monitor fee developments and is prepared to intervene if necessary to prevent any unwarranted price hikes.
In a related development, National Economy Minister Márton Nagy held meetings with Japanese Minister of Finance Katsunobu Kato and Minister of Economy, Trade, and Industry Yoji Muto in Tokyo. The discussions focused on strengthening bilateral economic, trade, and investment relations between Hungary and Japan. Hungary aims to be a reliable partner for Japan across various sectors, including politics and tourism.
Currently, there are 181 Japanese-owned companies in Hungary, with a strong presence in the automotive and electronics industries, employing approximately 27,000 people. Strategic cooperation agreements have been signed with seven of these companies, demonstrating the close ties between the two countries. Japan ranks as Hungary’s third-largest trading partner in Asia, following China and South Korea.
Furthermore, Hungary welcomed nearly 36,000 Japanese tourists last year, who contributed 92,000 guest nights to the country’s tourism sector. Hungary seeks to enhance its role as a gateway for capital and expertise from both Eastern and Western regions, attracting investments with its stable political and economic environment, competitive tax system, skilled workforce, and government incentives. Minister Nagy extended an invitation to Prime Minister Shigeru Ishiba to visit Budapest in the near future.
Overall, the collaboration between telecommunications companies in freezing prices and the ongoing efforts to strengthen economic relations between Hungary and Japan reflect the commitment of both countries to fostering growth and cooperation in various sectors.
