US companies are on track to invest a record HUF190bn (€500mn) in Hungary this year, Foreign Affairs and Trade Minister Peter Szijjarto said on December 18 during a visit to New York, state news agency MTI wrote on December 18.

As part of this wave, three new American projects worth a combined HUF21.5bn are in the pipeline, backed by HUF4bn in government support and expected to create over 200 high-skilled jobs.

Becton, Dickinson and Company will build a sterilisation facility next to its syringe plant, Scrub Daddy will expand its cleaning products operations in less developed regions of Hungary, and 3D printing company Formlabs will bring software development to Budapest.

Szijjarto said a new Hungarian-American economic cooperation framework supports the surge in US investment agreed during Prime Minister Viktor Orban’s recent talks in Washington

Orban, buoyed by Donald Trump’s election victory, envisioned a new era in political and economic ties after bilateral relations soured during the Democrats' time in office.

Hungarian government officials have repeatedly described the new cooperation forming between the countries as the start of a new golden age. In early 2025, Orban, one of Donald Trump's most vocal supporters in Europe, said Hungary is preparing a "new economic deal" with Washington.

Details of the deal emerged last month after the prime minister visited the White House in November. Budapest secured an exemption from US sanctions on Russian oil, and the government made a commitment to buy $600mn in LNG and $700mn in military equipment and acquire SMR technology for $20bn.

Orban also spoke broadly about a financial shield guaranteed by the US, which would give Hungary "almost unlimited financing opportunities" to replace EU funds, but later his statements were contradicted by Trump himself. Hungary maintains that talks on the issue, which could include swap arrangements, are ongoing.

According to earlier comments by Szijjarto, there are over 1,500 American-owned companies that employ around 100,000 people in Hungary. Over the past ten years, the government has supported 145 local investments by these companies, creating 19,000 jobs.

Earlier this year, US-owned industrial automation company Emerson and consumer goods giant Procter and Gamble announced new investments in Hungary, and the government has recently signed a strategic cooperation agreement with GE HealthCare.