LEGO to invest EUR hundreds of millions in Hungary

Danish toy manufacturer LEGO will invest HUF 54 billion (EUR 137.4 million) in 2023-2025 to expand packaging and warehouse capacities at its base in Nyíregyháza, in north-east Hungary, creating 300 jobs, Péter Szijjártó, the foreign minister, said on Thursday.

The investment is supported by a HUF 4.3 billion government grant, the minister was quoted as saying in a statement issued by his ministry.

He noted that LEGO had plans to expand its solar park at the base and to make geothermal energy investments. This will reinforce Hungary’s position among the twenty countries in the world that are able to cut their emission of pollutants while increasing their economic performance, he said.

Szijjártó pointed out that employment, investments and exports reached new records last year in spite of the crisis situation. “What’s even better is that all three records are expected to be broken this year, despite the extreme inflationary pressure this year,” he said.

“Last year’s investment record of EUR 6.5 billion will be followed by a record high of EUR 13 billion this year. Export growth has reached 10%, and the investments brought in through the investment incentive system have created 50% more jobs than last year,” he added.

“Obviously, this would have been impossible if it weren’t for the unbroken trust of international investors in Hungary,” he said.

The minister noted that Danish companies were among the twenty biggest foreign investor groups in Hungary, and bilateral trade grew by 16% last year.

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