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The “Investors of the Year” Awards for most substantial investments of the previous year have been granted yet again at the ceremony of the Hungarian Investment Promotion Agency (HIPA). The prizes were presented by Mr. Levente Magyar, Deputy Minister of Foreign Affairs and Trade, and Mr. István Joó, CEO of HIPA.
South Korea remained the largest investor with an investment of EUR 2.8 billion on an annual basis in 2022. German businesses delivered a strong performance by not only providing 30% of the investment volume, but also launching the most projects, and committing to adding some 6,000 people to their payroll – an equivalent of 40% of all newly created jobs in 2022.
Foreign investors’ trust placed in our country is unbroken. On the other hand, what we work on together with them has become more important than ever given the current uncertain and volatile economic climate. It is a fact that today in Hungary everything is provided to meet the needs of businesses that wish to invest,”
Mr. István Joó, CEO of the Hungarian Investment Promotion Agency said.
As far as sectors are concerned, electronics, automotive, and food stayed on top. Electronics attracted 43% of the total investment volume, whereas automotive and food represent 37% of all projects and over 44% of new jobs.
The awards of HIPA’s “Investors of the Year 2022” were granted in nine categories. CATL was granted the Award for Strategic Investment. The Chinese company company’s €7.3 billion project in Debrecen is the largest greenfield investment in Hungary. After having built a plant in Germany, CATL has chosen Hungary as the location for its second European factory where it plans to create thousands of jobs and supports Hungary’s commitment to carbon neutrality.
Nestlé Hungária Kft. received the Award for Continuous Reinvestment. Employing 2,500 people, Nestlé is the largest Swiss-owned employer in Hungary and has invested a total of more than €840 million in its 30 years of domestic presence.
Mercedes-Benz was awarded the “Lifetime award for significant investor.” With production in Hungary since 2012, Mercedes-Benz is a major investor and employer in the Hungarian economy. The CLA Coupé and the CLA Shooting Brake are produced exclusively at the Kecskemét plant, while the EQB, the first purely electric vehicle in serial production in Hungary, is also made at the Hungarian plant alone for the entire world market, with the exception of China. The German company announced in July 2022 that it will invest more than €1 billion to prepare itself for electrification.
The Continental Group received the Award for R&D Investment. The German company has been working on next-gen vehicle dynamics and road safety solutions in its Veszprém development center since 2001. The Artificial Intelligence Development Center in Budapest was launched in 2018. Their activities were expanded to Szeged and Debrecen at the end of 2022.
Featured photo: HIPA