• Home
• Channel: Business
• Japanese TDK Investing HUF 26 Billion in Western Hungary

Japanese TDK Investing HUF 26 Billion in Western Hungary

• 3 Jun 2024 12:11 PM
• Hungary Matters

TDK could create 250 jobs with a 26 billion forint (EUR 67m) investment in Szombathely, western Hungary, Péter Szijjártó, the minister of foreign affairs and trade, said at the inauguration of a building at the Japanese-owned company’s base in the city.

The investment programme is adding 12,000sqm of production area at the base, he said.

TDK is bringing production of electronics for the automotive industry that aren’t made anywhere else in Europe to Szombathely, the minister added.

He said Hungary had faced “tight competition” in attracting the investment, adding that it was supported with 6.7 billion forints from the state.

In a press release, TDK said it was bringing production of sensors to the base that were not made elsewhere in the European Union as the manufacturing base for the products at a TDK base in Indonesia reached its capacity limit.
 

*********************************

You're very welcome to comment, discuss and enjoy more stories via our Facebook page: 
Facebook.com/XpatLoopNews + via XpatLoop’s groups: Budapest Expats / Expats Hungary

You can subscribe to our newsletter here:
XpatLoop.com/Newsletters

Do you want your business to reach tens of thousands of potential high-value expat customers?
Then just contact us here!

• How does this content make you feel?
• I love it
• I like it
• I dislike it

• TDK Foreign Minister

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

Hungary to Buy Stake in 'One of World's Largest Gas Fields'

• 6 Jun 2024 10:12 AM

Hungary and Azerbaijan have signed a “historic agreement” under which Hungary “will buy a stake in one of the world’s largest natural gas fields,” the minister of foreign affairs and trade said in Baku.



Gov’t Supports Hungarian Businesses Entering Foreign Markets, Says Orbán

• 15 May 2024 7:08 AM

A crucial component of the Hungarian government’s industrial strategy is to provide incentives to Hungarian businesses entering foreign markets, Prime Minister Viktor Orbán said at the inauguration of a MOL complex in Tiszaújváros, in north-eastern Hungary.



OECD Predicts Accelerating Economic Growth in Hungary

• 3 May 2024 5:59 AM

The OECD forecasts Hungary’s GDP will climb by 2.1% this year and its growth accelerating to 2.8% in 2025, according to its biannual Economic Outlook published.



Chinese Investments Worth HUF 6,000 Billion Under Way In Hungary

• 24 Apr 2024 7:02 AM

Currently there are some 6,000 billion forints (EUR 15.2bn) worth of Chinese investment projects under way in Hungary, creating 25,000 jobs, the foreign ministry quoted Péter Szijjártó, the minister of foreign affairs and trade, as saying in Beijing.