Chinese and other Eastern investments exceeded historic rate in Hungary

In 2014, the Eastern direct investment rate in Hungary stood at 18.8%. That is now 34%, Márton Nagy, the minister of economic development, said yesterday.

China is Hungary’s 9th most crucial trade partner, making up 4% of the entire Hungarian foreign trade. Mr Nagy highlighted that China was Hungary’s biggest trade partner outside Europe. The 380 Chinese companies employ 16 thousand people in Hungary. Among Hungary’s foreign investors, China brought the highest amount of foreign working capital in 2023, telex.hu wrote.

According to the MTI, Nagy held talks with Jens Buhler, the newly appointed director of the Mercedes-Benz plant, in Kecskemét, in central Hungary, on Friday. The sides discussed current economic trends and the progress of the ongoing expansion of the plant.

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Nagy hailed the work of Christian Wolff, the plant’s outgoing head, in making the Kecskemet base a “major player” in the global production network.

The Mercedes-Benz plant in Hungary turns out over 150,000 vehicles a year, generating revenue of more than 4 billion euros. It provides livelihoods for almost 5,000 households.