Exports to the EU27 fell by 10%, and imports by 4.0%.Continue reading
The Government is committed to showcasing the benefits of its investment strategy, including job creation and infrastructure development. This commitment was highlighted by the recent announcement of an Austrian-owned timber company’s significant investment in Mohács (central Hungary).
The company has completed over HUF 2B (EUR 5.4M) in upgrades to its fiberboard production plant, receiving HUF 286M (EUR 772K) in state subsidies and securing 250 jobs. The new equipment will enable the plant to produce 240,000 cubic meters annually, sourcing over half of its raw materials from local suppliers and exporting around 90 percent of its products.
Minister of Foreign Affairs and Trade, Péter Szijjártó emphasized the government’s focus on creating widespread economic benefits. He stated,
the goal is for everyone in Hungary to feel the success of our investment strategy.”
The Minister also noted that “despite global economic challenges, Hungary has managed to maintain economic stability and attractiveness for investment.”
The government’s strategy involves addressing regional imbalances and fostering growth through major infrastructure projects and investments in both urban and rural areas. This includes projects like the expansion of the Paks nuclear power plant, new bridges, and rail links.
Via MTI; Featured Image: Facebook / Szijjártó Péter