The old days could return as foreign multinationals gain an edge over Hungarian companies

The Tisza government appears to be targeting not only Fidesz but also Hungarian companies that grew stronger over the past 16 years. Magyar Nemzet argues that the campaign could ultimately leave the country exposed once again to foreign multinationals.

One example is the government’s decision not to conclude the final sale agreement with Bayer Construct Zrt. for an office complex in Zugló. Zoltán Kiszelly said the issue went beyond the project itself, warning that thousands of homes and jobs could be put at risk. Attacks on larger domestic companies would also place smaller suppliers in a difficult position, he said, while giving foreign businesses an advantage.

“We saw this before 2010 as well,” Kiszelly said. He also argued that the past months had shown the Tisza party lacked ready-made plans. The government had begun dismantling Viktor Orbán’s economic model, he said, but had not put another model in its place.

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We saw this before 2010 as well.

Kiszelly said the resulting uncertainty was slowing progress in several areas. Tisza lawmakers were not consulting mayors, businesses did not know whom to approach, and the state administration was being established very slowly. Without long-term government proposals, including for health-care reform, meaningful debate was also missing. “Governance essentially consists of looking back and blaming others. That will not be enough,” he said.

Szabolcs Pásztor, research director at the Oeconomus Economic Research Foundation, placed the debate in a broader historical context. Countries that industrialized late or moved beyond state socialism often began with few areas in which they could compete. Targeted state intervention could help create new advantages, he said, especially in industries requiring knowledge, technology and established production capacity. The article ends while introducing Alexander Hamilton’s ideas on the subject.

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Governance essentially consists of looking back and blaming others. That will not be enough.