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Trade Minister: Investments Record High in 2019

MTI-Hungary Today 2019.11.12.

Investments in the Hungarian economy have reached a record high, the minister of foreign affairs and trade told parliament’s economic committee on Tuesday.

Péter Szijjártó said that in the first ten months of the year agreements on 62 major projects had been signed. He added that the government had contributed a combined 129 billion forints (EUR 386m) to assist with those projects which would create 9,682 new jobs. Those investments include 10 e-mobility projects by South Korean and 4 by Japanese companies worth a total of 3 billion euros, he said.

The minister also said that in jobs created through the government’s investment promotion scheme, salaries currently averaged a gross net 458,000 forints (EUR 1,370).

Trade Minister: Job Creation No Longer Condition for Gov’t Support

Szijjártó spoke highly of Hungary’s exports and said that they added up to 104.8 billion euros in 2018, putting Hungary among the 35 countries worldwide with exports exceeding 100 billion euros. In the first 8 months of 2019, exports totalled 72,2 billion euros, 4 percent up from the previous year, he said, and suggested that by the end of the year Hungary could record “the best export results of all times”.

Featured photo by Zsolt Szigetváry/MTI