HUF 53 Billion Expansion by LEGO
- 21 Jun 2021 11:58 AM
- Hungary Matters
Danish toy manufacturer Lego is investing 53 billion forints (EUR 149.6m) to expand its plant in Nyíregyháza, in northeast Hungary, Péter Szijjártó, the minister of foreign affairs and trade, said.
The government is supporting the investment creating 250 jobs with a 5.9 billion forint grant, he noted.
The investment will be the third largest in Hungary in 2021, and will result in the second largest Lego plant worldwide, he added.
Investments by leading international companies prove that Hungary is providing an excellent environment for high-quality production, Szijjaártó said.
The “Hungarian system” combines companies with cutting-edge technology, the high performance of Hungarian workers, good infrastructure and a supportive economic policy, he said.
To maintain that environment, Hungary rejects criticism of a key element, its competitive taxation system, Szijjártó added, referring to debates of an international corporate tax.
Hungary wants to keep taxation in the state’s hands and hold onto the competitive edge achieved by low taxes, he said.
Lego deputy CEO Jesper Hassellund Mikkelsen said the construction will be completed in 2023, expanding the plant by 70,000sqm.
Casting capacity will grow by 50%, and packaging capacity by 30%, he said.
Photo courtesy: www.nyiregyhaziiparipark.hu
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