CORONAVIRUS: Here's the latest
A regularly updated feed of the latest information about coronavirus in Hungary.Read more
The foreign minister said the government’s investment decisions this year will all come down to the levels of technology, the value-added and the levels of research and development involved with the given prospective projects.
Coordinated by the Liget Project, works were completed in March to reconstruct the original glory of the culturally and historically significant Olof Palme House, while also modernizing the building in accordance with contemporary tastes.
Hungary offers incentives for investments that will “help Hungarian businesses and the Hungarian people” by attracting technology-oriented capital to the country, said Minister of Foreign Affairs and Trade Péter Szijjártó in an interview on Kossuth Radio.
In the midst of a global economic slowdown, Finance Minister Mihály Varga has called for maintaining fiscal discipline in the Hungarian economy and keeping up the country’s recent high investment rate.
“Hungary and Central Europe have becoming the growth engines of the continent, in which investments in regional cities have played a major part,” said Péter Szíjjártó, Minister of Foreign Affairs and Trade.
“As a result of Europe’s lowest (corporate) taxes, a well-trained workforce and the quality of higher education, Bavarian companies continue to have a high level of trust in Hungary,” Péter Szíjjártó, Minister of Foreign Affairs and Trade, said.
The law would make investments from outside the European Union and the European Economic Area in the areas of national security, public security and those affecting economic and public health interests dependent on clearance from the interior minister
The Hungarian economy is export-orientated, and its export success determines the success of the whole national economy. Last year, the country exceeded 100 billion euros in annual exports for the first time in its history
Péter Szijjártó, minister of Foreign Affairs and Trade, said the group will increase production capacity with an investment of 5.2 billion HUF (16.8 million EUR), towards which the Hungarian government will provide one billion HUF in non-returnable funding
Péter Szijjártó, minister of Foreign Affairs and Trade, said there was no competitive financing alternative available in Europe for infrastructural investment - the 18-year US dollar loan from China with annual interest rate of 2.5 percent was the best option
The foreign minister said the government seeks to improve export possibilities for Hungarian companies worldwide and to entice foreign companies to invest in Hungary in an ever more competitive international environment
Minister Szijjártó highlighted that this was the eighth investment in Hungary from major US corporations this year via the investment promotion program, with investments totalling 30 million USD and creating some 1,100 new workplaces
“In Hungary, everything is in place to ensure that the upcoming years pass in the spirit of economic success. We would like to open a new era, an era of even higher economic growth in the history of the Hungarian economy," the prime minister said
“If investment growth is sustained, even if not at such a high pace, the investment rate will also grow, which in turn boosts job creation and helps secure the targeted economic growth rate of 4 percent in 2017 and 2018," Hungary's economy minister said