A new announcement can be expected next week in connection with the BMW plant being built in Debrecen, in eastern Hungary, the minister of foreign affairs and trade said in Munich on Friday, adding that the project would be “about more than what was originally planned”.
BMW’s investment in Debrecen will be a “success story” of the Hungarian economy, the foreign ministry cited Péter Szijjártó as saying. The German carmaker is building a plant in Hungary that will completely combine environmental protection with competitiveness, Szijjártó added. “This plant will be what industry will look like over the coming decades,” the minister said. “Hungary and Debrecen together with BMW will show the world something that will only become commonplace in the global economy over the coming decades.”
The Debrecen plant won’t just be one of the most cutting-edge plants in Europe, but also in the entire world, he said, noting that the carmaker will build its first full platform for electric models at the east Hungarian factory. Szijjártó said the European economy was heading towards a severe recession due to the war in Ukraine and the related sanctions, adding that Hungary’s only goal could be to avoid the economic downturn.
Read alsoPHOTOS: Austrian vehicle developer inaugurated technology centre in Hungary
“This isn’t an easy task, but it’s possible and there’s a clear recipe for it, which is maintaining the increasing rate of investments coming into Hungary, in which Bavarian businesses play a key role,” Szijjártó said.
“Because it’s investments that create jobs, and jobs generate output, which generates economic growth,” he said. “And if economic growth is maintained, we can avoid the recession and won’t have to expect negative economic consequences which we unfortunately already saw in Europe as a result of the pandemic.”
Szijjártó met Florian Herrmann, head of the Bavarian State Chancellery, Melanie Huml, the minister for European and international affairs, as well as leaders of the BMW Group, Knorr-Bremse and Schaeffler, among others, in Munich.
Read alsoPHOTOS: Hello, Dictator! Demonstration against Viktor Orbán in Berlin
Source: MTI
please make a donation here
Hot news
Hungarian FM: Suspending EU-Israel political dialogue ‘would be mistake’
European Commission demands a further EUR 60 million from Hungary
Hungary’s MÁV group to undergo major restructuring
Russian gas supplies to Austria disrupted: Will this threaten Hungary’s gas supply?
Hungarian opposition Jobbik urges health-care finance reform
Outrageous: Fake product advertised on YouTube in the name of a prestigious Hungarian university
