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Nov 12, 2019

FM: Investments in Hungary have reached a record high

Péter Szijjártó told parliament’s economic committee on Tuesday that in the first ten months of the year agreements on 62 major projects had been signed.

The foreign minister has revealed that investments in the Hungarian economy have reached a record high.

Péter Szijjártó, Minister of Foreign Affairs and Trade, told parliament’s economic committee on Tuesday that in the first ten months of the year agreements on 62 major projects had been signed. 

The minister added that the government had contributed a combined HUF 129 billion (EUR 386m) to assist with the 62 projects which would create 9,682 new jobs. He also announced that those investments include 10 e-mobility projects by South Korean and 4 by Japanese companies worth a total of 3 billion euros.

Minister Szijjártó also said that in jobs created through the government’s investment promotion scheme, salaries currently averaged a gross net HUF 458,000 (EUR 1,370).

The minister also said Hungary’s exports amounted to 104.8 billion euros in 2018, putting Hungary among the 35 countries worldwide with exports exceeding 100 billion euros. In the first eight months of 2019, exports totaled 72.2 billion euros, four percent up from the previous year, he said, and suggested that Hungary could record “the best export results of all times” by the end of 2019.