Szijjarto's Move to China's BYD Triggers Subsidy Investigation

According to Euronews, the new Hungarian government led by Prime Minister Peter Magyar has announced an investigation into state subsidies, tax breaks and permits granted to the Chinese electric vehicle manufacturer BYD. The investigation was prompted by the departure of longtime former Foreign Minister Peter Szijjarto from parliament to take up the position of executive director for external relations at BYD.

Szijjarto, who personally negotiated massive state incentives for Chinese investments in Viktor Orban's former government, faces allegations of a conflict of interest.

BYD is currently building its first European plant in Szeged, Hungary. Transparency International Hungary has described Szijjarto's move as a textbook example of the "revolving door" phenomenon. According to the organization, his detailed knowledge of the state apparatus could expose Hungary to pressure from the Chinese company.

Furthermore, Hungarian legislation does not include a mandatory cooling-off period for former ministers that would prevent a direct transition to the private sector. The investigation aims to assess the overall impact of these decisions on taxpayers, the environment and the labor market.

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