Daily News Hungary economy

Hungarian machine toolmaker Spinto Hungaria is investing 5.9 billion forints (EUR 19m) at its base in Miskolc (NE Hungary), Minister of Foreign Affairs and Trade Peter Szijjártó announced on Thursday.

The government is supporting the investment, which will create 140 jobs, with a 2.4 billion forint grant, Szijjártó said.

Spinto Hungaria has already signed the first employment contracts with its new hires, attracting some back to Hungary from jobs abroad, said managing director János Pócs.

Pócs acknowledged the support of the government as well as the Miskolc municipal council in realising the project.

Szijjártó said economic growth requires internationally competitive medium-sized companies in addition to multinationals investing in Hungary and successful Hungarian-managed large companies. The success of Hungary’s re-industrialisation policy is demonstrated by the fact that an increasing number of medium-sized companies gain strength and are capable of international success.

Source: MTI

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