Hungary investigates deal with China’s BYD carmaker after ex-foreign minister takes job there

Hungary's government has launched an investigation into a significant investment deal with Chinese automaker BYD. This investigation follows the former Foreign Minister Péter Szijjártó's resignation from Parliament to accept an executive position at BYD. Prime Minister Péter Magyar announced the probe, stating it will examine all decisions, negotiations, and state commitments made by Szijjártó concerning BYD's investment in Hungary, including subsidies and infrastructure support. The investigation aims to scrutinize decisions made during former Prime Minister Viktor Orbán's tenure regarding large multinational firms. Szijjártó was instrumental in securing investments from Chinese companies like BYD while in office, which included substantial government subsidies for BYD's European factory and headquarters in Hungary.

Hungary's government is investigating a significant investment deal with Chinese electric carmaker BYD. This investigation follows the resignation of former Foreign Minister Péter Szijjártó from parliament last week to accept an executive position at BYD. Szijjártó had previously been instrumental in securing substantial government subsidies and diplomatic support for the company while in office. Prime Minister Péter Magyar stated that Szijjártó provided BYD with "hundreds of billions (of forints) in public money, diplomatic support and state infrastructure." The former minister's move to BYD has drawn accusations of a conflict of interest.