Diplomat: German Firms Re-Invest 50% Of Profits In Hungary
- 2 Feb 2015 4:00 AM
German companies reinvest over 50% of the profits on their operations in Hungary, German ambassador Lieselore Cyrus said in an interview published in business daily Napi Gazdaság. The ambassador noted that the 6,000 German firms active in Hungary have invested some 20 billion euros in Hungary in the past 25 years and have created 300,000 jobs.
Hungary is Germany’s 16th largest trade partner, German exports to Hungary amounting to an annual 18.6 billion euros, while Hungary’s exports amount to 21 billion euros, the ambassador said, adding that the figures demonstrate that German investments have contributed to stability in the Hungarian economy and have boosted economic growth.
Referring to complaints by German companies, the ambassador said that they mostly concerned changes such as the introduction of a road freight control system, the advertisement tax, or a significant increase in the food quality control fee weighing on those businesses.
“Companies prefer an environment where they can plan for years ahead, where legal safety is stable and business players have a certain kind of confidence in each other,” Napi Gazdaság quoted the ambassador as saying.
Source www.hungarymatters.hu
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