One of the largest investment projects of this year will involve a 65 billion forint (EUR 185m) investment project backed by 13 billion forints of state support, creating 440 new jobs near Debrecen, in eastern Hungary.
Chinese company SEMCORP is to complete a factory for manufacturing separator foils for Lithium-ion batteries by the end of 2022, Foreign Minister Péter Szijjártó said at the groundbreaking ceremony.
He said that “trade winds are blowing from the East” in many modern industries of the new global economy, including the electric car industry.
The new 97,000sqm plant will be SEMCORP’s first manufacturing unit outside China, representing a “new chapter in the success story of Hungarian-Chinese economic cooperation”, he added.
Over the past 11 years, trade with countries to the east of Hungary increased by 28 percent, he said. South Korea was the biggest investor in Hungary in 2019, while China was the largest last year.
Trade with China increased by 24 percent in the first half of this year, while Hungarian exports increased by 51 percent, he added.
In the featured photo: SEMCORP CEO James Heng-Kuang Si. Photo by Zsolt Czeglédi/MTI