New automotive investment in Hungary: groundbreaking ceremony held

Gergely Gulyás, the head of the Prime Minister’s Office, attended the groundbreaking ceremony of a new plant to be built by automotive parts supplier Flex, at Zalaegerszeg, in south-western Hungary, on Thursday.

In his address, the minister noted the key role of research and development in new investment projects, arguing that the Hungarian economy was no longer reliant on assembly plants, and he also pointed to the important role of universities and research institutes in Zalaegerszeg.

Flex’s new 36 billion forint project is receiving government support of up to 20 percent and is creating 210 new jobs, he said, adding that Flex already employs 10,000 people at its 7 production sites across the country.

Source: depositphotos.com

“The country and Zalaegerszeg will benefit significantly more than what it costs us,” the minister added.

Flex vice-president Ágota Péter said her company currently employed 140,000 people in 30 countries, with annual earnings in Hungary alone totalling 1.8 billion euros. In the past 8 years, Flex has invested 150 million US dollars in Zalaegerszeg, making the city the company’s automotive production centre in Europe, she added.

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