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German multinational engineering and technology company Bosch has opened a new logistics center in the eastern Hungarian city of Miskolc. The center will serve as a regional hub for the distribution of Bosch products in Eastern Europe.
At the opening ceremony on Friday, the Hungarian Minister of Foreign Affairs and Trade emphasized the importance of the logistics sector for the Hungarian economy. “Logistics is a key sector of the Hungarian economy. Accordingly, the government has supported numerous investments in this sector and will continue to do so,” said Péter Szijjártó.
“A strategic cooperation agreement was concluded with Bosch over a decade ago, which has real content, as evidenced by the fact that
today the company has become the largest employer among foreign industrial companies in Hungary, employing around 18,300 people,”
he noted.
The establishment of the new logistics center of Robert Bosch Power Tool Kft. was a 54 billion forint (approx. 134 million euros) project. It is the first time that Bosch has installed a warehouse function for finished products in Hungary.
From now on, all Bosch products to be transported to the East will come from Miskolc.
The minister emphasized that Hungary is ideally suited as a logistics center for the region due to its geographical location. “The shortest and most efficient land transportation route between southeast Europe and the western part of the continent runs through us,” he recalled.
Szijjártó also pointed out that the logistics sector in Hungary has experienced strong growth in recent years. The production value of the sector exceeded 4,500 billion forints (11 billion euros) in the first three quarters of last year, which corresponds to a growth of seven percent within one year.
The government has supported a total of 124 major logistics investments in the last ten years. The Hungarian logistics sector has performed well even under difficult conditions, such as bypassing war zones and changing delivery routes to the east, the minister said.
Via MTI, Featured image: Facebook/Szijjártó Péter