Last year, over €13 billion of investments flowed into Hungary, setting a record, Minister of Foreign Affairs and Trade Péter Szijjártó of Hungary stated in his video released on his Facebook page on Thursday, 4 January.
In the video, Péter Szijjártó expressed that the global economy underwent significant crises last year, as indicated by global data: the amount of investments made worldwide decreased by 12.5 per cent year-on-year from 2021 to 2022. In the first half of last year, an additional 30 per cent decrease was recorded, he added. ‘All of this shows that the investment appetite, the volume of investments, is far from what the global economy could demonstrate before the Covid era,’ the minister emphasized.
He went on to say that given the above, it is an even greater achievement that
the Hungarian economy has been consistently breaking investment records in recent years: in 2022, €6.5 billion of investment arrived through the government’s incentive system. Last year, over €13 billion of investment came to Hungary,
supported by €2 billion in cash aid, as Szijjártó pointed out. These investments created a total of 19,000 jobs, which also counts as a record. He also highlighted that when the government supports these investments, it ‘rewards’ job creation, as these investments ensure the livelihoods of Hungarian families.
Szijjártó explained that most investments last year came from China. However, in terms of the number of investments, Hungarian companies rank second, indicating the existence of a large and strong Hungarian corporate sector capable of competing with foreign investments.
The minister stated that a new era in the global economy is emerging,
where there will be winners and losers, and whether a country falls into a particular category may depend on how much investment it can attract to itself.
‘We, Hungarians, with our investment records, clearly belong among the winners of the new era in the global economy because we were able to attract a large volume of investments in the electric car industry, which defines this era, to Hungary,’ Minister Szijjártó said, adding that soon the world’s largest electric car manufacturing company will also build a factory in Szeged, making it the sixth such factory.
He noted that, in terms of the production of batteries for electric cars, Hungary will have the second-largest capacity in the world, making it the champion of the green, environmentally friendly automotive industry in Europe and one of the global leaders.
Source: Hungarian Conservative/KKM/MTI