Minister: foreign investors’ confidence in Hungary is unbroken
The confidence of foreign investors in Hungary “seems to be unbroken” despite “all the attacks, emotional blackmail and hysteria-mongering”, helping Hungary maintain its economic growth, the minister of foreign affairs and trade said on Friday.
Péter Szijjártó spoke at a project launch by Austria’s plywood maker KRONOSPAN-MOFA, and said the group would increase its capacity at its plant in Mohács, in southern Hungary, using a budget of HUF 2 billion (EUR 5.4 million). He added that the Hungarian government was supporting the project with a grant of HUF 286 million, “helping to preserve 230 jobs”.
“Economic crises always impact jobs, and the most important task of a government is to protect them; investments and government aid to those investments are crucial in saving jobs,” he said. Szijjártó said Hungary had seen EUR 6.5 billion in foreign investment last year, which he said was a “huge record”. He added, however, that last year’s record had been broken in the first half of 2023, while greenfield developments had shrunk by 15 percent elsewhere in the European Union.
Concerning the wood processing industry, which employs 16,000 people in the country, he said it had also broken a record last year, increasing by 26 percent and its earnings nearing HUF 600 billion. Austria is Hungary’s third largest trading partner, with bilateral trade increasing by 37 percent in 2022, to a total turnover of a record EUR 17 billion, the minister added.
Well – rephrase. We are attracting a certain type of investor. From countries that actually appreciate how our country is run. Where it is OK to have a Minister on speed dial so he can help you out in a pinch. OR from countries / industries that have massive leverage. “Be reasonable – see it my way”.
Budapest, Hungary – integral point of the NEW Silk Road, of the East meeting the West.
Foreign Investment – China, continues to grow in momentum, the “buy up” of Hungarian Industries & business operations, that once where Hungarian owned & operated.
Hungary – is CHEAP for China, the deals undertaken by Orban & his Government, that would have China as Hungary’s MAJOR Financier.
It’s called Trade Off’s – if you do this for us, in return China – we will offer to YOU.
China – taking the “pickings of the crop” out of Hungary, that still has much to be seen, in the foreseeable immediate short term.
Profitability in foreign owned operations, is NEVER – in this case – Chinese ownership – reinvested back into the Economy of Hungary, contributing to building Capital in Hungary.
Profitability is ALL shipped off to the parent companies, on mainline China.
The Hungarian Foreign Minister – the “Himmler” look alike – Peter Szajjarto – ‘puts out there” such comments and explanation that are FAR removed from Facts & Truth.
WHO from country’s that are Governed under a DEMOCRATIC system, who would WANT to Invest in Hungary ?
Orban & his Government – have cataclysmically PULVERIZED our country, that factually see’s us being categorized as a High Risk INVESTMENT.