Hungary’s financial healing is underway this year, in spite of amazing troubles and turbulence, laying the structure for substantial development in 2025, Minister of Foreign Affairs and Trade Péter Szijjártó stated offering testament before parliament’s economy committee on Tuesday. As he stated, Orbán cabinet thinks cars and truck market and EV factories are essential concerns. Szijjarto stated the weight of the worldwide economy had actually moved to the East recently, while the competitors to bring in multinationals’ financial investments had actually heightened. He cautioned of the risk of efforts to divide the world into blocs once again and stated the federal government was concentrated on enhancing connection. He stated the federal government had actually embraced a policy of financial neutrality, leading the way for the nation to end up being a “conference point” for the economies of the East and the West. Hungary has actually ended up being the “top” place in Europe for cooperation in between Western and Eastern business, he included. Szijjártó stated the federal government had actually supported 255 financial investments with HUF 869bn in aids in 2023 and the very first half of 2024. Those jobs deserved more than HUF 6,000 bn and produced around 25,000 tasks, he included. He kept in mind that 62pc of that financial investment volume had actually originated from China. South Korean business were runner-up, followed by ones from Germany, he included. Hungary represented 44pc of all Chinese financial investments in Europe throughout the duration, he stated. This year, Chinese financial investments in Hungary produced 11,500 tasks, while financial investments by German business developed 3,000, he included. read likewise: Chinese CATL to start production next year in Hungary Government assistance for financial investments went to tasks in 19 branches of market, although the most support went to electromobility financial investments, he stated. Szijjártó highlighted huge financial investments in the pipeline, consisting of Chinese EV maker BYD’s plant in Szeged, German vehicle maker BMW’s factory in Debrecen and the growth of the Mercedes base in Kecskemét. When those tasks are ended up, yearly automobile production in Hungary will climb up over 1 million, he included. Szijjártó likewise kept in mind huge battery production financial investments required for EV production. read likewise: New Hungarian airline company established with Chinese aid If you want to support the work of the Daily News Hungary personnel and independent journalism, please make a contribution here
Hungarian federal government thinks cars and truck market and EV factories are essential top priorities
