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May 11, 2018

Hungary listed as the world’s eighth most attractive investment destination

Péter Szijjártó, minister of Foreign Affairs and Trade, said that Hungary’s position was confirmed on a list published by America’s Site Selection magazine

The foreign minister has revealed that Hungary is the world’s eighth most attractive investment destination.

Péter Szijjártó, minister of Foreign Affairs and Trade, said that Hungary’s position was confirmed on a list published by America’s Site Selection magazine.

“Hungary has a small, open economy, and in order to maintain the dynamic of job creation it must take part in a ‘cutthroat international battle’ for investments, to convince enterprises that it is worth bringing their investments to Hungary,” the minister said.

“The list published by the most authentic investment consultancy magazine for enterprises searching for investment locations is extremely important, since this list is an important factor in decisions concerning new investments. The first ten places include countries like Germany, Great Britain and China,” he added.

The minister said Hungary’s economic policy is based on continuously increasing the rate of economic growth through work and job creation. “It is the performance derived from labor that provides the foundations for the long-term sustainability of economic growth, meaning the more people are working, the better the economy will perform,” he said, adding that this notion will be the focus of the government’s economic policy moving forward.

The foreign minister also revealed that since 2014, the HIPA investment promotion agency has brought 294 major new investments to Hungary with a total value of ten billion euros, facilitating the creation of 58,000 new workplaces. What’s more, the companies that invest in Hungary provide further opportunities for Hungarian small and medium-sized enterprises that act as suppliers.

“The American investment magazine has also published a list of investment promotion agencies with the involvement of international investment consultants, experts and journalists, and the HIPA was chosen as the best investment promotion agency in Central and Eastern Europe,” the minister said.

“Over the past four years the HIPA has broken its previous investment record in every single year, and while in 2009 only 27 new investments were made in Hungary, by last year 96 new investments were brokered by the HIPA,” he concluded.