The world’s largest factory for railway braking systems completed in Budapest

The German large enterprises operating in Hungary have traditionally been good partners when it came to realizing our economic development objectives, Minister of State for Economic Regulation István Lepsényi said at the inauguration of the new production and training facilities of Knorr-Bremse Rail Systems.

István Lepsényi said it was important for the Government that the majority of German enterprises had long-term plans for Hungary, thanks to the trust that had evolved through cooperation with the Government and the confidence which was bolstered day after day by the performance of Hungarian employees.

The position of countries that they manage to achieve depends to a large extent on the capability and readiness of a country to innovate and adopt new solutions – that is, the capacity for rapid growth, he noted. Hungary has been in a good position, as the country has had a long period of political stability, firm economic policy objectives and an adequate regulatory system.

On the other hand, large international enterprises have also been instrumental in economic achievements and the fact that we can make bold plans for the future, István Lepsényi pointed out. The automotive industry has been, indisputably, a major growth engine of the Hungarian economy, therefore it is great that enterprises operating in this sector have been constantly increasing production and introducing innovative, new technologies that already represent the sector’s future, he added.

The newly completed HUF 5bn project in Budapest makes Knorr-Bremse Rail Systems Hungary the world’s leading manufacturer and developer of railway breaking systems.

The relations between Hungary and Knorr-Bremse are multifaceted: the company has been a strategic partner, which was the first to join our supplier development programme and which has also been active in our joint efforts to develop a dual vocational education system, he said.

The Government added HUF 153 million to the costs of building the new training facility.

Photo: MTI

Source: Ministry for National Economy