US investors’ experiences confirm success of Hungarian economy’s dimension shift, says FM

Foreign Minister Péter Szijjártó has said that talks with US investors clearly confirm that the Hungarian economy had successfully completed a dimension shift.

The US companies consider Hungary not only as an ideal location for production but also as a location for investment where activities with high value added, research and development requiring expert skills and activities based on these can be carried out, Szijjártó told MTI in New York where he attends the current United Nations General Assembly session.

Szijjártó has held bilateral talks with company leaders from the pharmaceuticals, electronics and financial sectors.

He granted the Chain Bridge Budapest Award, recognising the most important US investor of the previous year, to Arconic, a lightweight metals engineering and manufacturing firm formerly named Alcoa.

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Szijjártó said that US IT giant IBM had published its global ranking of last year’s developments and it showed Hungary at fifth place in terms of the number of jobs created per one million residents.

In the ranking of most sought-after target destinations for investment, Hungary is at fourth place in the vehicle manufacturing sector and ninth place among research and development investments, he added.

“These prove that the dimension shift of Hungarian economy has been successful and we are among the winners of the new era of global economy,” Szijjártó said.

He said this was thanks to the good skills of Hungarian workers and high level of the education system. Additionally, it was also because Hungary’s tax policy favours investments requiring high value added and companies can keep a high level of resources for further development, he added.

https://dailynewshungary.com/us-extends-visa-free-entry-for-hungarians/

Source: mti