America is now the second largest investor in Hungary, sources report.
Peter Szijjártó, minister of Foreign Affairs and Trade, has confirmed that “American companies have the second largest volume of investment in Hungary after Germany."
Szijjártó said that the 1,600 American enterprises currently operating in Hungary employ more than 100 thousand people.
The news follows the opening of Alcoa-Köfém Ltd’s new global service center in Székesfehérvár. The Alcoa move further reinforces American-Hungarian economic relations and is creating 100 new jobs.
Service centers like the one established by Alcoa provided the second largest volume of investment after automobile investment projects.
International firms are also recognizing that there are many suitable locations outside Budapest and accordingly there are now 40,000 people working in such service centers in 90 different cities.
Alcoa, which is in the process of splitting into two separate companies, built its new service center with an investment of 350 million HUF. The center’s old units will serve the new company, Arconic.