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German engineering giant Robert Bosch will invest 14.1 billion forints (EUR 43.8m) at its automotive unit in the northeast Hungarian city of Miskolc, company executives told a press conference.
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Hungary’s economy is expected to expand by 3.4% this year after the 4.3% growth likely in 2018, according to the regional report by credit-rating agency Moody’s.
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Private sector wages in Hungary could rise in the double-digits this year, well over the 8% increase in the minimum wage, the head of the Hungarian Chamber of Commerce and Industry said in Saturday’s issue of daily Magyar Idők.
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Tungsram, a Hungarian brand more than 100 years old, was revitalised in 2018 when a company managed by a former executive of GE purchased the EMEAT light source division of American GE Lighting together with its global car light division.
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Government efforts to boost investment set new records in 2018 both in terms of the number of projects and their combined value, the foreign minister said.
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Foreign-owned non-financial companies had 47,000 billion forint (EUR 146bn) sales revenue in Hungary in 2017, 6.95% more in current prices than in 2016.
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