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Watch: New Awards for Top Investors in Hungary

• 28 Mar 2023 2:45 PM
• Budapest Business Journal

The Hungarian Investment Promotion Agency (HIPA) recognized investors in nine categories at its annual "Investors of the Year" awards ceremony last week.

"Foreign investors’ trust placed in our country is unbroken. On the other hand, what we work on together with them has become more important than ever given the current uncertain and volatile economic climate," said HIPA CEO István Joó - pictured above.

"It is a fact that today in Hungary everything is provided to meet the needs of businesses that wish to invest," he added.

China's CATL was presented with the Award for Strategic Investment. The company is building a EUR 7.3 billion battery plant in Debrecen (225 km east of Budapest).

The biggest greenfield investment in Hungary to date will allow CATL to meet the European market's demand for batteries better, contribute to accelerating e-mobility and the European energy transition, and support Hungary's commitment to carbon neutrality, HIPA said.

South Korea's W-Scope took the Award for Newcomer Investor.

The maker of separator film used for EV batteries announced a EUR 720 million investment in Nyíregyháza (240 km northeast of Budapest) in the summer. The plant will have an annual capacity to produce 1.2 billion sqm of separator film.

Swiss food industry giant Nestle won the Award for Continuous Reinvestment.

During its 30 years in Hungary, Nestle has invested more than HUF 325 bln at its three plants in the country. Mercedes-Benz was recognized for lifetime achievement.

The German car maker has produced vehicles in Hungary since 2012 and announced plans in the summer to invest more than EUR 1 bln at its plant in Kecskemét (95 km southeast of Budapest) to deploy new assembly lines and a body shop.

The list of all award winners is available on the HIPA website.

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Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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