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Trade Minister: Hungary among World’s Top 10 Investment Destinations

MTI-Hungary Today 2019.05.10.

Hungary is among the world’s ten most attractive investment destinations, the foreign and trade minister said on Friday.

Citing a fresh report by American corporate magazine Site Selection, Péter Szijjártó told public current affairs channel M1 that the Hungarian Investment Promotion Agency (HIPA) was ranked as the best such agency across the region comprising central Europe and central Asia.

The minister said Hungary’s rank was also a recognition of the Hungarian workforce, noting that Site Selection also takes into consideration the state of a country’s labour market and the skill level of the workforce.

“The knowledge and motivation of the Hungarian people is fully competitive,” Szijjártó said.

He also pointed out that the Hungarian economy saw a total of 98 major investments worth a record 1,380 billion forints (EUR 4.3bn) last year.

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Germany remains Hungary’s largest foreign investor followed by the United States, Szijjártó said.

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“But it can also be seen that the pace of the changes in the global economy is being set at least as much by the East as the West,” he said. “Japanese, Chinese and Korean firms are all eager to bring in their developments which will also determine the trajectory of the European economy.”

featured photo illustration by Zoltán Balogh/MTI