Automotive industry supplier Novus Interior Hungary, a unit of Sweden’s Havd Group, inaugurated a 500 million forint (EUR 1.6m) production hall in Nagyvázsony, in western Hungary, on Tuesday.
The production hall, which the company paid for with its own resources, is part of a more than 1 billion forint investment that will be completed by 2019, creating 70 jobs.
Addressing the event, the Hungarian foreign minister said that the Swedish owner has chosen Hungary as a country for the investment that has the lowest tax rates and most flexible labour codes in Europe.
The country has also been favoured for serving as a logistics hub in central Europe, Péter Szijjártó said .
Novus Interior Hungary had revenue of 1.7 billion forints in 2016, public records show.
Featurd image: MTI