The Chinese Jiecang group is opening 200 new workplaces in Kaposvár (southwest Hungary).Continue reading
The government will continue to provide every support to ensure that the Hungarian pharmaceutical industry remains at the forefront of the global industry, Péter Szijjártó, Minister of Foreign Affairs and Trade stated in Budapest on Monday.
At the announcement of the latest investment by Egis Gyógyszergyár Zrt., the Minister explained that the company, founded more than 110 years ago, will expand the capacity of its factory in Körmend (western Hungary) by HUF 14.5 billion (EUR 36.3 million), with HUF 3.5 billion (EUR 8.8 million) in state support, thereby helping to create jobs.
Egis currently employs 3,800 people in Hungary and is very close to reaching the 4,000 mark,”
he said.
He then welcomed the fact that international demand for the products of the Hungarian-founded company is growing more and more dynamically, which is something they are working hard to achieve, as last year, for example, they spent HUF 20 billion (EUR 50.1 million) on research and development and already manufacture more than 650 types of medicines in Hungary.
Péter Szijjártó recalled the difficulties surrounding the coronavirus pandemic and stated that defending against and preventing health challenges has become a task of perhaps unprecedented importance.
Minister of Foreign Affairs and Trade Péter Szijjártó delivers a speech at the Ministry during the announcement of Egis Pharmaceuticals PLC’s investment. Photo: MTI/Zoltán Balogh
“The pharmaceutical industry has a key role to play in this, which is why here in Hungary, the government will continue to provide every support to ensure that representatives of the Hungarian pharmaceutical industry remain at the forefront of the global industry,” he emphasized.
The capacity and quality of the pharmaceutical industry are key to success in defending against health challenges,”
he added.
He described it as good news that the Hungarian pharmaceutical industry is extremely competitive by international standards, and pointed out that alongside the automotive industry, it is another pillar of the Hungarian economy.
He also emphasized that the sector is one of the main drivers of the Hungarian economy’s transition to a new dimension, as it ranks first in terms of the proportion of revenue spent on innovation.
The Minister also mentioned that Hungarian export performance is growing steadily and dynamically. Today, Hungary is the 19th largest exporter of pharmaceuticals in the world, while in terms of population, it ranks only 95th in the world, he said.
He added that this may also be due to the fact that this is the 34th major pharmaceutical investment in the last ten years to receive financial support from the government. “A total of HUF 36 billion (EUR 90.2 million) in government support has generated HUF 240 billion (EUR 601.5 million) in pharmaceutical industry investments in Hungary, creating thousands of new jobs,” he said.
Finally, he also pointed out that Vas County contributes greatly to the performance of the Hungarian economy, with industrial production growing by 60 percent in ten years, now exceeding HUF 1,800 billion (EUR 4.51 billion).
“It is no wonder that unemployment has fallen well below three percent in the county. This may have been helped by the fact that over the past ten years, the government has provided support for 63 major investments here, which have generated a total of HUF 620 billion (EUR 1.55 billion) in investment,” he summarized.
Via MTI; Featured photo: Facebook/ Egis Gyógyszergyár Zrt.