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Jun 13, 2019

FM: German companies have created over 300,000 jobs in Hungary

The FM pointed out that the Hungarian and German economies are mutually dependent on one another, and that 30 percent of Hungary’s foreign investments come from Germany.

The Foreign Minister has revealed that German companies have created over 300,000 jobs in Hungary.

Péter Szijjártó, Minister of Foreign Affairs and Trade, said during an official visit to Essen, western Germany, that Hungary’s cooperation with German companies is based on mutual benefits.

Minister Szijjártó argued that Hungary’s attractive investment environment allowed German companies to make investments that strengthen their roles in the global economy while increasing the value-added and the proportion of research and development in Hungarian workplaces.

The Minister told MTI that the Hungarian economy “is therefore entering a new dimension dominated by services and R+D with the help of German companies”.

Minister Szijjártó said new investment projects by German corporations were to be expected in Hungary. The Minister is holding talks in Essen and Stuttgart with company leaders, including those of ThyssenKrupp, Bosch, Daimler and SAP.

The Minister added that Hungary is in talks with multiple partners on new investment projects, the specifics of which will soon be announced.

Minister Szijjártó added that vast changes were afoot in the global economy, adding that it was “not an exaggeration to say that we’re entering a new era of the global economy”.

The Minister said German companies play an important role in setting the pace of these changes. He said this was “good news for Hungary”, arguing that the economies of Germany and central Europe, and more specifically the German and Hungarian economies, were strongly linked together.

Finally, the Minister pointed out that the Hungarian and German economies are mutually dependent on one another, and that 30 percent of Hungary’s foreign investments come from Germany.

Photo credit: audi.hu