Hungary ranked 8th for number of ongoing investments, says US magazine

Hungary has the eighth most investment projects in the world, according to American corporate magazine Site Selection.

Péter Szijjártó, the foreign and trade minister, citing the magazine that

ranks Hungary No. 1 in the eastern European region in terms of the best place to invest,

told a press conference on Thursday that the country, with its small, open economy, must participate in the “cutthroat international struggle” for investment if it is to maintain its job creation dynamic.

“The country’s inclusion in a top-ten ranking by such a respected professional journal is of extraordinary significance as it can sway investors,” he said.

In Site Selection’s global ranking of investment projects by country, Hungary was in eighth place with 74 projects. China and Germany topped the list, with 777 and 455 projects, respectively. Poland was in fifth place, with 140, and Romania was in tenth, with 70.

In a Site Selection ranking of the top ten countries in Eastern Europe and Central Asia based on total amount of investment and investment projects, Hungary was number one. It also topped the regional ranking for investment value per capita.

As the Site Selection said:

“The 10th annual Global Best to Invest Awards are based in part on capital investment into private-sector facilities in each country (total projects and per capita projects) as compiled by Conway Analytics. Qualifying projects are corporate facility investments (from both FDI and domestic expansion) that contribute to the well-being of the areas in which they are made by meeting at least one of the following three criteria: