LEGO to invest EUR hundreds of millions in Hungary
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Danish toy manufacturer LEGO will invest HUF 54 billion (EUR 137.4 million) in 2023-2025 to expand packaging and warehouse capacities at its base in Nyíregyháza, in north-east Hungary, creating 300 jobs, Péter Szijjártó, the foreign minister, said on Thursday.
The investment is supported by a HUF 4.3 billion government grant, the minister was quoted as saying in a statement issued by his ministry.
He noted that LEGO had plans to expand its solar park at the base and to make geothermal energy investments. This will reinforce Hungary’s position among the twenty countries in the world that are able to cut their emission of pollutants while increasing their economic performance, he said.
Szijjártó pointed out that employment, investments and exports reached new records last year in spite of the crisis situation. “What’s even better is that all three records are expected to be broken this year, despite the extreme inflationary pressure this year,” he said.
Run the company (and the books) in Euros to not be affected by the HUF, cheap Hungarian labour, grants and incentives, also lots of plump EU ones. Making the case for Hungary on a strictly economic basis is quite easy!
Fun fact: a lot of this investment would ordinarily end up in Poland or the Baltics – however their geopolitical risk profile has gone up a bit with the Ukraine war…
The Hungarians,and the Hungarian workers not so happy about this”investment”
We want back our Hungarian companies
All outsiders break down our economy, because the cheap labors,and take out the profit
We don’t want “lego’,and others!!!