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“Despite the crises of recent years and the decline in the EU’s competitiveness, Hungary has remained one of the most attractive investment destinations in Europe,” emphasized Péter Szijjártó, Minister of Foreign Affairs and Trade, at the opening of the new plant of Swiss-based STOBAG in Sülysáp, close to Budapest.
The Minister said that the HUF 8.5 billion (EUR 21,3 million) investment was supported by the state with HUF 836 million (EUR 2,1 million) and created 60 new jobs. The company built five new industrial halls and manufactures weather protection solutions.
FM Szijjártó emphasized that exports are the driving force of the Hungarian economy: by the end of May, the volume of exports exceeded EUR 60 billion. According to the latest IMD rankings, Hungary has improved its position by six places in the competitiveness list and remains one of the most attractive destinations in the region.
Péter Szijjártó. Photo: MTI/KKM
Swiss-Hungarian economic relations have also strengthened: in ten years, the value of Swiss investments has tripled and now provides jobs for more than 30,000 people.
The Hungarian Government has supported 53 Swiss projects worth HUF 34 billion (EUR 85,2 million), resulting in HUF 560 billion (EUR 1,4 billion) in investments and 4,800 new jobs.
Péter Szijjártó added that Pest County is one of the most dynamically developing regions: over the past decade, unemployment has halved and industrial output has tripled, with an annual value now exceeding HUF 7,000 billion (EUR 17,5 billion). This was helped by the implementation of 320 major investments with government support.
Via MTI; Featured photo: Facebook/Stobag