One of the most important achievements of the past 10 to 12 years is that the Hungarian economy is now internationally competitive in many sectors.

Speaking at the Turkish Sisecam Group’s investment in Aszód, Minister of Foreign Affairs and Trade Péter Szijjártó said that the state will provide HUF 650 million in support of the HUF 3 billion development of the company, which manufactures automotive glass products. The project, to be completed by the end of this year, will create 100 new jobs.

The minister said that Hungary had been at the forefront of the vaccination campaign in the first half of last year, reopening its economy about two months earlier than the European average. Epidemic restrictions caused losses of HUF 10 to 15 billion a day, so the country’s reopening was a huge boost and contributed to annual economic growth of more than 6 percent, along with record investment, he stressed.

Szijjártó also said that the government had launched one of the biggest investment promotion programs ever, with around HUF 290 billion of support in 30 industries to boost competitiveness.

He said that during the crisis, 170 investments were announced in Pest County, worth a total of HUF 104 billion. The state provided HUF 38 billion in support for these developments, helping to safeguard 31,000 jobs.

The FM noted that the automotive industry is the backbone of the Hungarian economy, which can only continue to grow if suppliers can also increase their capacities. He added that the sector’s production value in the first 11 months of last year was HUF 8.7 trillion, and the sector provides jobs for 160,000 people in the country.

Turkey is a strategic partner and friend of Hungary, he additionally mentioned, reporting that bilateral trade turnover increased by 15 percent in 2021, reaching EUR 4 billion.

Sisecam is one of the largest glassware manufacturers in the world, with 43 factories in 14 countries and exports to around 150 countries. Last year, the company also announced an investment of around HUF 73 billion to open a plant in Kaposvár, creating 329 new jobs.

Photo: www.facebook.com/szijjarto.peter.official
Source: hungarianinsider.com