German firms to invest EUR 11.1m Hungary
Three major German companies have decided to plough a total of 4 billion forints (EUR 11.1m) into investments in Hungary, Péter Szijjártó, Hungary’s minister of foreign affairs and trade, said in Budapest on Monday.
The government will contribute 1.2 billion forints to the investments, helping save 1,770 jobs, Szijjártó told a press conference.
Villeroy and Boch, Mahle and Beurer’s Hungarian ventures export over four fifths of their output, so the investments will also boost Hungary’s export performance, he said.
Szijjarto noted the impact of pandemic-related lockdowns on the Hungarian eoconomy, and said that countries looking to procure vaccines from other sources besides the EU’s centralised distribution system had been “regularly attacked”.
“The sooner large shipments of vaccine are available, the quicker can we can inoculate vulnerable people and lift the restrictions hobbling the economy,” he said.
Hungary has also entered the competition to secure advantage in the post-pandemic global economy, Szijjártó said, adding that the government’s investment support scheme had so far helped 1,434 companies investing a total of 1,676 billion forints in the country.
Cooperation between Hungary and Germany had become closer — even in these trying times — Szijjártó said, with German companies maintaining and sometimes boosting their investments in the country, he said.
Read alsoMercedes invests EUR 141m to make fully-EV cars in Hungary
Source: MTI
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1 Comment
The indication of further investment into Hungary by Germany is of greater economic soundness and rationality, for the long term betterment for Hungary than Chinese Investment.
The Chinese growing investment across to wide economic landscape of Hungary, being approved in partnership with the present Government of Hungary – must be totally re-evaluated.
International media this day report that the 2021 to 2022 financial year – estimates that China, who do not deny and in fact acknowledge – that there GDP is geared focused to return a result of 8%.
Astounding and Mind Boggling.
China has continued to trade in a profitable position – its GDP growth throughout the on-set of this novel coronavirus say from February 2020.
There philosophy is muchly centered on intent to continue to expand there markets that Highlight the growing and DANGEROUS picture – that they China – are buying into the Global World at a rampant un-controllable rate – that all but illuminates – what the World owns on the lands of China.
Hungary – we must not be ignorant of the “modus operandi” of the “awoken dragon” – its mission and course of vibrant actions and agendas – that are the objectives of China.
Hungary will be “food for fodder” or easy pickings for China from Investment perspectives broadly across Hungary’s economy.
Hungary would be urgently best advised to re-evaluate the Chinese position and relationship that appears expanding and not be caught up or in economic foreign country investment cataclysmic mess – that other country’s Norway and Australia exampled – in recent times, who got Savaged and Mauled by China – and ensure we Hungary – CONTROL – say 51% to 49% ratio – what China participates in – invests into – on the lands of Hungary.
It must NOT be the reverse of this example and be ALLOWED that we become subservient – to the Chinese “dogma” – which has a History – that is not a pleasant nor good read.
German investment – the safer sounder way forward than China.