Péter Szijjártó, Minister of Foreign Affairs and Trade, said the Italian automotive industry supplier Novation Tech is investing HUF 1.3 billion (EUR 3.7m) at its base in Szeghalom, in south-eastern Hungary.
According to MTI, the minister said the government is supporting the investment, which will create at least 50 jobs, with a HUF 450 million grant. The minister said Novation Tech’s investment was a further testament to the economic progress seen in rural Hungary. The output of Hungary’s automotive industry came to HUF 8,700 billion by November last year, 90 percent of which was produced for export, Szijjártó said. Thanks to the “bold strategic decisions” taken by the government over the course of the coronavirus pandemic, Hungary saw a record HUF 1,886 billion worth of investments last year, he said. Employment in the country is at its highest since the change of regime 32 years ago and exports came to a record 119 billion euros in 2021, he added. The government’s decisions have proven to be the correct ones, Minister Szijjártó said, adding that thanks to its vaccination drive early last year, Hungary had been able to reopen its economy on average two months ahead of the rest of Europe.
Photo credit: MTI