The vehicle manufacturer has set up its first European plant in Biatorbágy.Continue reading
The HUF 4.5 billion (EUR 11.6 million) investment by the Austrian electronics company Melecs EWS GmbH will create 120 new jobs in Győr (northern Hungary), Minister of Foreign Affairs and Trade Péter Szijjártó announced on Monday.
The minister said at the inauguration of the production hall of Melecs EWS GmbH that the company had received HUF 865 million (EUR 2.2 million) from the state for the HUF 4.5 billion (EUR 11.6 million) development, which had contributed to the creation of 120 jobs. The company, also present in the US, China, and Mexico, employs 550 people in Győr, where it also manufactures complex automotive products, he said.
Szijjártó welcomed the fact that despite the unfavorable situation, Hungary not only managed to survive the difficult period, but also had its best year ever in 2022, with record exports, investment, and employment. “Now the good news is that we will manage to surpass the record year of 2022, in all three factors this year, not even a little, but a lot,” he added.
The investment coming into Hungary this year will be more than double the record amount that came in last year. Exports have so far increased by 10 percent compared to last year’s record, and 50 percent more jobs have been created in the first half of the year than the previous year from investments made with the help of the government’s investment support scheme,”
he explained.
The minister emphasized that the backbone of the Hungarian economy is the automotive industry, accounting for more than a third of total manufacturing output last year, and that the sector’s output value broke through the HUF 10,000 billion (EUR 25.9 billion) “glass ceiling,” and this year so far, there has been a 22 percent growth.
We know very well that the automotive industry cannot exist without a well-developed and extensive supplier base, so Melecs’ investment in Győr is more good news for the further growth of the sector,”
the Minister said.
He added that Austria is Hungary’s second largest trading partner, with Austrian companies forming the second largest investor community.
Via MTI, Featured image: MTI/Krizsán Csaba