The focus of the government’s investment promotion strategy is now the region of southwestern Hungary, the aim of which is to promote the rapid development of the industry of the counties in the region, Minister of Foreign Affairs and Trade Péter Szijjártó announced on Tuesday in Budapest.
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According to the ministry’s announcement, the head of the department said when announcing the new investment by the German company Einhell that the company, which is one of the market leaders in DIY machine manufacturing, will supplement its commercial activity in Hungary with production, and therefore will establish a plant in Sormás, where batteries and chargers used for power tools will be assembled.
According to his information, the value of the investment won in the international competition is about two billion forints, and the state provides a subsidy of 400 million forints, thus contributing to the creation of eighty new jobs in the first phase.
In his speech, he emphasized that a significant part of the company’s supply chain is provided by Chinese partners, whom the government will also try to attract to Hungary, since one of the main strengths of the Hungarian economy is the German-Chinese corporate cooperation, the extension of which to the DIY sector is another important step in diversification may.
Péter Szijjártó also reported that economic development has always had to deal with geographical conditions, the previous clear focus of the economy on Budapest.
“After that, the North-West Hungarian region caught up, mainly due to the large automotive capacities installed in the period following the system change. After that, so that the country does not tilt in terms of West-East, in terms of economic development, we concentrated a lot on the economic development of the eastern half of the country. Today, the Miskolc The Debrecen-Nyíregyháza axis can practically be classified as one of the flagships of the global automotive technological revolution”
– He told.
“Therefore, the main focus of our investment promotion strategy is the region of southwestern Hungary. We want the industry of the counties of southwestern Hungary to develop by leaps and bounds, and the economy there to strengthen in the next period.”
– he added.
The minister also touched on the fact that German companies continue to make up the largest investor community in Hungary, employing roughly 300,000 people.
He recalled that in the last ten years, more than two hundred large German investments received support from the Hungarian authorities, and these induced more than ten billion euros worth of development.
“There are always those who try to strain, try to undermine Hungarian-German relations, but it is clear that the economic basis of this system of relations is extremely strong”
– he emphasized.
In support of this, he also noted that according to a recent survey by the German-Hungarian Chamber of Commerce, four out of five German companies with investments in Hungary would still bring their investments here, which is a clear recognition of the development and attractiveness of the domestic environment.
“They made a good decision by choosing South-West Hungary and by choosing the county of Zala, the immediate vicinity of Nagykanizsa, Sormás. It is certain that the right workforce is available. The educational institutions are waiting for the opportunity to cooperate with the economic actors, and now the infrastructural features are also such that you can safely plan investments in the region”
– summed up.
Source: propeller.hu
