A combined investment of 5.8 billion forints (EUR 16.3m) by three Swedish-owned multinationals at their bases in Hungary will save 7,500 jobs, Péter Szijjártó, the foreign affairs and trade minister, said on Friday.
The government is supporting the investments with grants worth a total of 1.8 billion forints, Szijjártó told a press conference.
Car parts maker Autoliv is investing at its seat belt plant, while brake component maker Haldex will be producing electronic braking systems that improve the safety of freight trucks, the minister said. Meanwhile, Dometic, a company that specialises in the production of hi-tech refrigerators and air conditioners, will be expanding its production line, he added.
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All three companies are leaders in their respective market segment, Szijjártó said. Investments like those seen by Autoliv, Haldex and Dometic go to show that Hungary is among the winners in the emerging new global economic order, he added.
featured image: Autoliv’s factory; via Csaba Krizsán/MTI