Szijjártó: Investments At Record High In Hungary In 2019

  • 13 Nov 2019 7:09 AM
  • Hungary Matters
Szijjártó: Investments At Record High In Hungary In 2019
Investments in the Hungarian economy have reached a record high, the minister of foreign affairs and trade told parliament’s economic committee.

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).

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 eight months of 2019, exports totalled 72.2 billion euros, 4% up from the previous year, he said, suggesting that by the end of the year Hungary could record “the best export results of all times”.

MTI Photo: Kovács Attila

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

  • Hungary-US Trade Record Broken

    Hungary-US Trade Record Broken

    • 8 Mar 2024 7:45 AM

    Hungarian-American bilateral trade set a new record, exceeding 9 billion dollars last year, while US investments continue to flow into Hungary, Péter Szijjártó, the minister of foreign affairs and trade, said in Washington, DC, noting that the United States is Hungary’s biggest export market outside the European Union.

  • Nestlé to Expand Pet Food Facility in Western Hungary

    Nestlé to Expand Pet Food Facility in Western Hungary

    • 18 Feb 2024 1:12 PM

    Swiss-owned Nestlé Hungária is investing 55 billion forints (EUR 141.3m) to expand its pet food facility in Buk, in western Hungary, the minister of foreign affairs and trade said, adding that the investment will create 130 jobs.

Enjoy more

business CHANNEL SPONSOR

Share your story

We're interested in your stories, and photos, related to expat life in Hungary. Your contributions, and Press Releases, are invited for review before publication in the loop.