Hungary Attracted Record Investments

  • 29 Dec 2022 8:26 AM
  • Hungary Matters
Hungary Attracted Record Investments
Foreign direct investment in Hungary reached a record 6 billion euros or 2,600 billion forints in 2022, Péter Szijjártó, the minister of foreign affairs and trade said.

The list of investors was topped by South Korea in terms of the volume of investments, and by Germany in terms of the number of jobs created, the minister said on Facebook.

Szijjártó qualified the structure of FDI “healthy”, with 48% of investment coming from the East, and 42% from the West.

Hungarian investments account for about 10% of the total, the minister said. The majority of investments were in the electric vehicle industry, he added.

Hungary’s goal has to be bypassing a recession and maintaining economic growth, he said. This can only be done by bringing more and more investment to the country, he said.

Szijjártó said the EV industry attracted 73% of investments in Hungary this year.

Altogether 43% had to do with electric battery production, while 30% were auto industry investments focused on the production of electric or hybrid vehicles, he added.

The food industry attracted 10% of investments, while 8% of investments went to service centres, the minister said.

Szijjártó emphasised the role of the government’s system of investment promotion in this year’s record.

MTI Photo: Tamás Vasvári

  • 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.

Explore More Reports

  • Venture Capital Investments Drying Up in Hungary

    Venture Capital Investments Drying Up in Hungary

    • 17 Jun 2024 11:03 AM

    The number of Hungarian companies receiving venture and private equity financing fell by 38% in 2023 compared to 2022, as the total value of investments dropped by 58%, according to a report prepared by the Hungarian Venture Capital and Private Equity Association in collaboration with Ernst & Young.

  • EC Blocks State Aid for Car Parts Investment In Hungary

    EC Blocks State Aid for Car Parts Investment In Hungary

    • 12 Jun 2024 8:29 AM

    The European Commission on Tuesday said it found that Hungary’s plans to grant 43.8 million euros in state aid for a vehicle parts plant in the underdeveloped north of the country were not in line with European Union rules on state aid.