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Jul 26, 2017

Bosch creates 2,015 new jobs in Miskolc thanks to 1.6 billion HUF investment project

“The total cost of the project is 1.6 billion HUF (5.2m EUR), towards which the government is providing 358 million HUF in non-returnable funding," Hungary's foreign minister said

German electronics giant Bosch has created 2,015 new jobs in Miskolc thanks to a new 1.6 billion HUF investment project.

“As a result of the latest investment by Bosch, Robert Bosch Power Tool Ltd. in Miskolc has been supplemented by a regional service center, making it the largest manufacturer of power tools in Europe and the largest unit in the Bosch Group," Péter Szijjártó, minister of Foreign Affairs and Trade, announced.

“The total cost of the project is 1.6 billion HUF (5.2m EUR), towards which the government is providing 358 million HUF in non-returnable funding," the minister added.

Germany is Hungary’s most important economic partner, the minister said. "The Hungarian economy and the modern German machine industry are clearly intertwined," he said.

“Bilateral trade flow between the two countries was 47.6 million euros last year, breaking all previous records with relation to trade between the two countries, with trade flow increasing by an additional six percent year-on-year during the first six months of this year," the minister added.

The minister highlighted the fact that Bosch is one of the worldwide front-runners in the digitalization and modernization competition, employing 59,000 people within the field of R&D.

He also pointed out that Bosch is giving Hungary a central role in its R&D strategy in view of the fact that the company spent 47 billion HUF (154m EUR) on research and development in Hungary last year.

“In addition, the company is cooperating with 19 education institutions in the interests of training new workers. Bosch has become the foreign production company that employs the most people in Hungary today, with the number of people it employs now reaching 14,200," he added.