The economic policy achievements of recent years, including low taxes and a gradual decrease in labour-related contributions, have made Hungary an attractive destination for investors, Foreign Minister Péter Szijjártó said on Friday at the opening of French company GMD’s aluminum foundry for vehicle parts in the Dorog industrial park.
The new plant uses state-of-the-art technology and has created 240 jobs.
Szijjártó said the investment had cost 20 billion forints (EUR 60m) and the government had contributed a non-refundable 2.9 billion forints.
Competition for the investment was significant because the GMD group has subsidiaries in 14 countries around the world, he added.
In 2018 French companies were the 4th largest investors in Hungary and France was Hungary’s 8th most important trade partner. Some six hundred French companies are employing 38,000 workers in Hungary, he added.