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Oct 11, 2017

PM Orbán: Everything is in place for Hungary to experience economic success in the years to come

“In Hungary, everything is in place to ensure that the upcoming years pass in the spirit of economic success. We would like to open a new era, an era of even higher economic growth in the history of the Hungarian economy," the prime minister said

Prime Minister Viktor Orbán has said that everything is in place for Hungary to experience economic success in the years to come.

The prime minister made the remarks at the opening of a new international logistics center built within the framework of a development project managed by the National Industrial Park Management and Development Company.

“In Hungary, everything is in place to ensure that the upcoming years pass in the spirit of economic success. We would like to open a new era, an era of even higher economic growth in the history of the Hungarian economy," the prime minister said.

The Hungarian government has launched Europe’s largest series of investment aimed at developing industry, the 5 billion HUF (16 million EUR) Páty project, 75 percent of which was financed by private sector loans, and the 17 billion HUF (65.6 million HUF) Hatvan project.

The prime minister highlighted how both of these projects are private sector based, but with collateral provided by the state.

“This is just the beginning, because projects are being launched that will cover the whole of Hungary with industrial parks. 13 cities with county rights will be establishing industrial parks at a total cost of 44 billion HUF (141 million EUR) within the framework of the Modern Cities Programme," the prime minister explained.

The prime minister said the government will be spending 150-200 billion HUF (480-640 million EUR) on establishing a network of industrial parks until 2020, and the facilities that will be created will meet the standards of even the most demanding investors.

"The Visegrád Group represent Europe’s most stable and secure region, which produce the EU’s highest level of economic growth," the prime minister added.

“The free movement of goods is also needed, however, and accordingly, it is in the interests of Hungary, the national economy and the logistics sector for the internal borders of the European Union to be open, and for its external borders to be protected and closed," he added.