The Chinese press believes it is easily achievable this year, considering new capacities in Szeged joining the production.Continue reading
More than EUR 13B in investments flowed into Hungary last year- a record amount, stated the Minister of Foreign Affairs and Trade on Thursday.
Minister Péter Szijjártó highlighted the challenging global economic conditions in the previous year, noting a 12.5 percent decline in the global investment volume from 2021 to 2022. Furthermore, a 30 percent drop was recorded in the first half of last year. Despite these challenges, Hungary achieved a remarkable performance, consistently setting investment records.
In 2022, EUR 6.5B of investments came through the government’s incentive scheme, and in the subsequent year, Hungary attracted over EUR 13B in investments, with EUR 2B in cash support. These investments led to the creation of 19,000 jobs, setting another record.
Mr. Szijjártó emphasized that government-backed investments not only contribute to economic growth but also reward job creation, ensuring the well-being of Hungarian families.
China was the leading source of investments last year, with Hungarian companies ranking second, showcasing the competitiveness of the local business landscape. The minister celebrated Hungary’s success in attracting significant investments in the electric car industry, positioning the country among the winners of the new global economic era. He highlighted the imminent construction of the world’s largest electric car factory in Szeged, making it the sixth such facility.
Hungary is set to become the second-largest capacity producer of batteries for electric cars globally, solidifying its position as the European champion in environmentally friendly automotive manufacturing. Minister Szijjártó concluded that these achievements mark Hungary as a global leader in the green car industry.
Via MTI; Featured Image: Facebook / Szijjártó Péter