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Feb 02, 2021

Government's Falco investment helps retain 300 jobs

The foreign minister said the Hungarian government had managed to save huge numbers of jobs despite global problems, through its economic strategy providing incentives for investments.

 

The foreign minister said the government is offering a grant of HUF 1.2 billion (EUR 3.4m) to Austrian wood products company Falco, which will increase its production capacity in Hungary through a development project worth HUF 8.2 billion forints.

Péter Szijjártó, Minister of Foreign Affairs and Trade, said the project would help retain 300 jobs. The minister said the Hungarian government had managed to save huge numbers of jobs despite global problems, through its economic strategy providing incentives for investments.

Austria is the third largest investor in Hungary, the minister noted, adding that over 2,000 Austrian companies employ 75,000 people in the country. According to data published by the United Nations, investments were down by 42 percent worldwide but Hungary benefitted from an increase of 140 percent.

Photo credit: MTI