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2017: the year of record-breaking investments

2017: the year of record-breaking investments

Government efforts to boost investments last year set records both in terms of the number of projects and their value, with 96 investments worth 3.5 billion euros, Foreign Minister Péter Szijjártó said on Wednesday.

Last year was the second in a row in which 17,000 jobs were created thanks to the government’s programme to boost investments, Szijjártó told a press conference held to announce the 3.2 billion forint (EUR 10.3m) investment by Turkish-owned composites maker Metyx Hungary, which is expanding its base in Kaposvár, in south-western Hungary.

The average monthly gross salary was more than 304,000 forints (EUR 980) in newly created jobs last year, as against 255,000 forints in the previous year, he added.

A large part of new investments were in areas most affected by digitalisation and the new industrial revolution, with

36 projects in the car industry, 7 projects in electronic and food processing each, 5 in information technology and 10 involving new service centres, he said.

The largest number — 29 projects — originated from Germany last year, followed by 18 projects by Hungarian companies, he said. Ten investment projects came from the US, four from India, three from China, South Korea and Japan each, and two from Turkey, he added.

Metyx will add four production lines and expand its base by almost 6,000sqm, creating 182 jobs, Szijjarto said. The government is supporting the investment with a 903 million forint grant, he added.

Investments creating high added value and using advanced technologies are best suited to Hungary’s economic strategy, he said.

Metyx will create jobs that require advanced skills and guarantee a good livelihood, which is much in line with the economic strategy, he added

Metyx’s plant in Kaposvár mainly supplies parts for wind turbines but it also has partners in the automotive industry.

Source: MTI

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