Three LKT Partners (Péter Lakatos, Péter Köves and Richard Lock) visited Shanghai in late March, to give a presentation on investing in Hungary and to meet potential investors. The focus of the trip was a presentation given at the Cheung Kong Graduate School of Management (‘CKGSM’). The event was organised jointly with CKGSM, the China Goes Global Think Tank (CGGT), Zhong Lun Law Firm and with the assistance from the Hungarian Consulate in Shanghai. The event was attended by over 30 delegates from potential investors, advisors and intermediaries.
The presentation focused on the investment environment in Hungary, sectors likely to be of interest to Chinese investors, and the experience over the last 20 years of investors from China and elsewhere in Asia (i.e. Japan, S. Korea). The commercial counsellor from the Hungarian Consulate also gave a brief presentation on incentives and subsidies available to investors.
Several interesting themes emerged from the lively Q&A session after the presentation
- there is interest from China in Hungary and in Central Europe as a whole, in sectors ranging from agricultural produce, retail, energy, infrastructure, tourism, etc.;
- Hungary is well placed geographically to benefit from China’s current focus on the New Silk Road
- the relatively small size(from a Chinese perspective) of the individual countries in CEE, and consequently of the investment targets, may be a problem
- there may be more interest in buying goods from Hungary to take back to China, than in buying assets and companies in Hungary.
The LKT partners also took the opportunity while in Shanghai to meet with various corporates and law firms.
Following up on the event Péter Lakatos and Richard Lock also attended a Shanghai Budapest Business Forum arranged by the Budapest Chamber of Commerce and Industry, bringing together a delegation from several Shanghai based corporates, and Budapest based Chinese investors.
The presentation and visit were another step in LKT’s strategy to position itself as the natural law firm of choice for foreign investors into Hungary, with emphasis on those from Asia.
LKT has built up relationships with leading Asian law firms. Partners from the firm (together with our Japanese speaking and qualified lawyer Magdolna Csider) visited Tokyo last year at the time of the IBA Annual conference, and managing partner Péter Lakatos previously visited law firms in Seoul. The firm has a mutual visiting lawyer program with one of the largest Japanese law firms, Anderson, Mori and Tomotsune.
„In the 21st century, a truly international law firm like ours needs to build up strong relationships with key players in the Asian markets who are keen to invest in this part of Europe”, said Péter Lakatos, managing partner of Lakatos, Köves and Partners.
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