Two more Chinese companies to invest EUR 95 million in Hungary

Agreements have been reached with two Chinese companies on their investments worth a combined HUF 35 billion (EUR 94.7 million) in Hungary, Péter Szijjártó, the foreign affairs and trade minister, said in Tianjin, in northern China, on Tuesday.

The government aims to make Hungary the number one investment destination in the region for Chinese companies, Szijjártó said after talks with the Chinese business executives, according to a ministry statement.

The new investments will contribute significantly to maintaining Hungary’s economic growth and will create around 500 jobs, the minister said.

One investment will be a HUF 28 billion packaging materials plant in eastern Hungary supplying the biggest European drinks makers, Szijjártó said, adding that the project would create around 300 jobs. The government is also supporting the investment, he said, adding however that the size of the government’s grant would only be revealed after the project is approved by the European Commission.

The other company will invest HUF 7 billion in producing interior parts for BMW’s electric vehicles produced in Debrecen, in eastern Hungary, he said, adding that the investment will create some 200 jobs.

Chinese companies continue to regard Hungary as an attractive investment destination, “and our aim is to maintain our position as the top investment destination of Chinese businesses in central Europe”, Szijjártó said.