Hungarian authorities announced on Monday they had launched an investigation into a major foreign investment deal with BYD that was brokered by a former foreign minister who last week stepped down from Parliament to accept a top position at the Chinese automaker.
Peter Szijjarto's announcement last Wednesday that he would take the job at the world's top electric carmaker prompted accusations of a conflict of interest and criticism over his role in facilitating substantial government subsidies to the company while in office.
Prime Minister Peter Magyar told lawmakers on Monday that Szijjarto, a close ally of former Prime Minister Viktor Orban, had helped BYD while he was in office "with hundreds of billions (of forints) in public money, diplomatic support and state infrastructure."
"We will examine all the decisions, negotiations and state commitments made by Peter Szijjarto that were related to the BYD Hungary investment," Magyar said Monday.
He added the investigation would look into all subsidies, tax breaks, permits, environmental exemptions and publicly funded investments given to large multinational firms during Orban's tenure.
