Weekly newsletter

Ford’s New Logistics Centre in Biatorbágy Will Serve 15 Countries in the Region

MTI-Hungary Today 2021.04.13.

Car manufacturers are continuing to bring engineering, development and service facilities to Hungary, Péter Szijjártó, the minister of foreign affairs and trade, said at the inauguration of carmaker Ford’s logistics centre in Biatorbágy, near Budapest, on Monday.

The centre will serve 15 countries in central and eastern Europe, Szijjártó noted. The 10,000 sqm warehouse centre was built with a 3 billion forint (EUR 8.4m) investment, he said.

Szijjártó said the number of jobholders now was nearly at the same level as before the coronavirus outbreak, and the economy benefitted from a new record FDI in 2020, while Hungarian exports exceeded 100 billion euros.

The minister noted that car-making was the backbone of the national economy, accounting for 30 percent of its total production. While the country had been seen as a production centre initially, “more and more engineering, development, and service functions have been set up,” he added. Ford itself currently employs 624 young engineers and economists in Hungary, he said.

Concerning US companies in Hungary, Szijjártó noted that 1,700 American businesses employ over 100,000 people in the country, adding that the start of 2021 had seen an 8 percent increase in bilateral trade with the US.

Fidesz Spends Far More On Hungary's Corporations Than Previous Governments
Fidesz Spends Far More On Hungary's Corporations Than Previous Governments

The government has been actively providing funding for large domestic and multinational corporations in return for the creation of jobs in Hungary, reports Free Europe. According to the Ministry of Foreign Affairs and Trade, 67.1 billion forints (EUR 187.5m) of government money were allocated to 27 corporations in 2020. The German Thyssenkrupp Components Technology Hungary […]Continue reading

Ford Europe regional director Yiannis Tavanidis said his company had an increasing network of suppliers in Hungary, with over 40 companies and 69,000 workers producing parts for Ford plants.


Array
(
    [1536x1536] => Array
        (
            [width] => 1536
            [height] => 1536
            [crop] => 
        )

    [2048x2048] => Array
        (
            [width] => 2048
            [height] => 2048
            [crop] => 
        )

)