In April 2018, Belt and Road Fintech Development Center's Chairman Mr. Jerome Ang and Secretary-General Mr. Zhu Xin Yue, met up with several Hungarian business leaders in Budapest to seek out investment opportunities for Chinese capital in Hungary.
The Belt and Road Initiative is the biggest investment and commercial project of the 21st century, covering three continents and over 60 countries. Located in the heart of Europe, Hungary is poised to play a key role in connecting Europe and Asia under the Belt and Road Initiative. Belt and Road Fintech Development Center leaders met up with Mr. Zhou Hong Bao, Chairman of Hungarian China Cultural Association, to discuss setting up a commerce education center in Budapest.
The Hungarian-China Cultural Association's aim is to promote cultural exchange between the two countries. Based on more than a decade of working with the Hungarian Government, the Association has established relations with the Hungarian Presidential Office, the Prime Minister's Office, the Ministry of Foreign Affairs, the Ministry of Culture, the Ministry of Economic Affairs, the National Police Agency, and the Press Association. This relationship has allowed the Association to accumulate a rich network of resources, which has laid a solid foundation for the development of various activities in China and Hungary.
"I have noticed that many Chinese entrepreneurs, often unfamiliar with local languages and laws, spend most of their energy dealing with accountants and lawyers when they came here, with only limited time spent on expanding the actual business. They could only stay for a year or two,and in the end, had to call off their project without achieving many breakthroughs in business," Mr. Ang said during the meeting. The proposed education center will equip Chinese entrepreneurs with the tools to carry out investment and business operations in the region. The center will also serve as a bridge linking Chinese entrepreneurs with local partners. Mr. Ang added that the center will promote sharing of best practices and resources which will, in turn, improve Hungary'seconomy and quality of life.
During his time in Hungary, Mr. Ang also met up with Mr. Jeno Memeth, Managing Director of Silvanus Forestry. The meeting gave the Belt and Road Fintech Development Center more insight into the Hungarian Agriculture industry. Silvanus Forestry is the one of the biggest company that produces and trades quality ornamental trees and the development of different tree varieties.
It is clear that Belt and Road Fintech Development Center have started to explore business opportunities that could bring the next wave of economic growth. With its vast network and resources, they are currently the front-runner in the industry.