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Oct 22, 2019

Hungary committed to developing transport and logistics infrastructure

László Mosóczi said that by 2022 the government will have spent HUF 5,000 billion (EUR 15bn) on road and rail developments with a view to boosting the country’s logistical prowess.

The State Secretary of Transport has said Hungary is committed to developing transport and logistics infrastructure.

During the departure of the first METRANS container train from Budapest on its way to China, László Mosóczi said that by 2022 the government will have spent HUF 5,000 billion (EUR 15bn) on road and rail developments with a view to boosting the country’s logistical prowess.

According to MTI, more than 1,000 km of rail tracks will be upgraded as part of a HUF 1,500 billion rail investment program which will lead to the use of more electrified lines. The government wants to turn the Carpathian Basin into Europe’s fastest growing economic, commercial and transport hub by linking its infrastructure to that of neighboring countries by 2030. The Budapest-Belgrade rail-line upgrade, to be completed by end-2024, is a part of this plan.

Mosóczi said Hungary is seen in Asia as an attractive investment destination, adding that the country has received around USD 4 billion of Chinese investments, while Hungarian exports to China last year exceeded 1.9 billion euros. Mosóczi said the government was committed to strengthening Hungary’s role as a transit hub between the Far East and Europe.