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Jul 26, 2017

Record amount of foreign investment in Hungary thanks to the Hungarian Investment Promotion Agency

“The level of new investments in Hungary managed by the investment promotion system could break new records again this year," Hungary's foreign minister said

There has been a record amount of foreign investment in Hungary thanks to the Hungarian Investment Promotion Agency, according to the foreign minister.

“The level of new investments in Hungary managed by the investment promotion system could break new records again this year," Péter Szijjártó, minister of Foreign Affairs and Trade, said.

The minister made the remarks during a press conference to assess the work of the Hungarian Investment Promotion Agency (HIPA) during the first six months of 2017.

A record 47 new investments in Hungary were successfully agreed upon with the involvement of HIPA between January and June, compared to 71 new investment projects for the whole of last year.

Official figures show that the 47 development projects concluded so far this year represent 1.3 billion euros of investment, 3 percent more than during the same period last year, and will create 8,502 new workplaces.

Minister Szijjártó said the figures are the result of the successful strategy that places the foreign economy and the enforcement of Hungarian economic interests at the center of foreign policy.

According to HIPA figures, Hungarian enterprises decided on the investment of 254.23 million euros via the investment promotion system, which will create 1,464 new jobs.

Minister Szijjártó also mentioned that the largest number of new investments from outside Europe are being made by companies from the United States.