Hungarian government in talks on 30 new German investment projects

Berlin, January 11 (MTI) – Talks on 30 new German investment projects in Hungary that could create 8,000 jobs are ongoing, Péter Szijjártó, the foreign affairs and trade minister, said on Wednesday in Berlin at a business forum organised by German daily Die Welt.

Szijjártó said almost all of the investment projects would involve high value-added jobs connected to the digital economy.

“The main challenge in 2017 will be to change over to a new type of economy, and the role of German companies will be instrumental,” the Hungarian minister said. From the government’s decision to introduce the lowest corporation tax in the European Union to tax breaks for research and development, Hungary’s new digital era is destined to be successful and competitive, he added.

Szijjártó said trade between the two countries in 2016 was at an all-time high, totaling in 47 billion euros. Currently 6,000 German companies operate with 300,000 employees in Hungary, which makes the country “one of [Hungary’s] most important allies” both politically and economically, he said.

Commenting on migration, Szijjártó said the two countries maintained widely differing views. Unlike Germany, the Hungarian government regards the heightened terror threat in Europe as a direct consequence of migration. But Germany and Hungary share a common view that a European army and strong cooperation in the arms industry and secret services are imperative in fighting the increased terror threat in Europe, he said.

They also agree that Europe’s competitiveness can only be regained by rigorous and consistent budgetary policies and steady economic growth rather than by “relying on others, specifically German money”, he added.

Amongst others, German Chancellor Angela Merkel and Finance Minister Wolfgang Schauble attended the conference.

Source: MTI