They discussed the operation of Magyar Suzuki, the corporation's Hungarian subsidiary, the current situation of the European car industry and possible further developments, the statement said.

Suzuki opened its first plant in Esztergom, in northern Hungary, in 1991 as the first foreign car manufacturer in the country, and has remained a substantial contributor to the Hungarian economy, the statement said. Thanks to its network of partners, suppliers and vendors, Suzuki provides a livelihood to nearly 10,000 people, it said.

Toshihiro Suzuki is the President and CEO of Suzuki Motor Corporation, having officially assumed the role in 2016 following the long tenure of his father, Osamu Suzuki.

Before becoming CEO, Toshihiro held various executive positions within the company, including Executive Vice President from 2011, and joined Suzuki in 1994 after working at Denso Corporation. 

Under his leadership, Suzuki has reinforced its focus on producing affordable compact cars for emerging markets, particularly India, where Maruti Suzuki accounts for over half of the company's global production and sales.

Toshihiro has also emphasized the importance of environmental sustainability, implementing initiatives like the "Zero-Level" program aimed at eliminating landfill waste.

In 2024, Toshihiro Suzuki visited Hungary, meeting with Prime Minister Viktor Orbán and touring the Magyar Suzuki plant in Esztergom, reflecting the company's commitment to its European operations.

He has expressed a progressive vision for the company's leadership, stating that nationality should not be a barrier, and that even an Indian could become President of Suzuki Motor Corporation in the future. 

Toshihiro's tenure has been marked by a blend of continuity and innovation, maintaining the company's core values while steering it through the evolving landscape of the global automotive industry.

Meanwhile, Ministry maintains dialogue with employers, unions on minimum wage

The National Economy Ministry said it was tracking labour market developments and maintaining a continuous, open dialogue with both employers and unions in a statement issued.

The ministry acknowledged a provision in a minimum wage agreement reached between the government, employers and unions in November that would trigger renegotiation if macroeconomic assumptions in the deal deviated from Q1-Q3 data in the target year by more than 1 percentage point.

Speculation regarding the correspondence between the assumptions and factual data is "premature", the ministry said.

It added that the government's modified macroeconomic assumptions for 2025, contained in the 2026 budget bill, showed a combined deviation of just 0.3 percentage point from the assumptions in the minimum wage agreement.

Under the agreement signed in November, the minimum wage will rise by an annual average 12pc over the next three years, increasing 9pc to HUF 290,800 in 2025, 13pc to 328,600 in 2026 and 14pc to 374,600 in 2027.

Source:

MTI – Hungary’s national news agency since 1881. While MTI articles are usually factual, some may contain political bias, and readers should be aware that such content does not reflect the position of XpatLoop, which is neutral and independent.

Since the goal of XpatLoop is to keep readers well briefed, right across the spectrum of opinions, MTI items are shared to ensure readers are aware of all the key narratives within the media landscape.

XpatLoop believes in empowering readers to form their own views through complete and comprehensive coverage. To facilitate this XpatLoop has a balanced range of news partners, as you can see when you surf around XpatLoop.com

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