Military equipment manufactured in Hungary helps bolster security, Defence Minister Kristóf Szalay-Bobrovniczky said at the signing of a joint venture agreement between the defence ministry and Germany’s Dynamit Nobel Defence in Budapest on Friday.
The joint venture will help start the rebuilding of Hungary’s defence industry which had declined “mainly due to decades of irresponsible political decisions”, Szalay-Bobrovniczky said at the ceremony. Hungary’s military will now have equipment that will guarantee the security of the Hungarian people, he said.
The minister said the joint venture agreement was the result of years of hard work by many people and a milestone in strengthening Hungary’s military strength and economy. The cooperation between the defence ministry and Dynamit Nobel Defence will create jobs, generate tax revenue and boost the reputation of the Hungarian economy, he added. It will also help prevent any disadvantages from potential supply chain disruptions, Szalay-Bobrovniczky said.
The agreement was signed by Dynamit Nobel Defence CEO Michael Humbek and László Palkovics, CEO of defence industry innovation holding company N7 Nemzeti Védelmi Ipari Innovation Holding.
- Read also: Hungary to buy radar system from Israel
Avishay Regev, head of Dynamit Nobel Defence’s supervisory board, praised Hungary’s favourable investment environment and skilled workforce. He said Hungary was led by a government that ensured the protection of its own and the European Union’s borders and was committed to boosting the country’s defence capabilities.
Regev highlighted the cooperation between Germany and Hungary’s armed forces, noting that they used and would continue to use some of the same defence systems.
Read alsoPHOTOS: Hungarian president, defence minister inspect Israel’s Iron Dome missile defence system
Source: MTI
please make a donation here
Hot news
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
Hungarian Finance Minister Varga to report on Hungary’s EU presidency to EP committee
New initiative aims to assist first-time homebuyers in Hungary
1 Comment
The fastest way to increase national security is to significantly increase the size of the military manpower, the number of combat planes, armor and artillery. This will probably require the reintroduction of conscription.