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The investment is supported by a HUF 560 million government grant, the minister said, according to news wire MTI.
The new facility will perform development and engineering activities related to military vehicles, supporting the achievement of the goal to supply our defence forces with domestically produced modern equipment as much as possible, he said.
“Germany is the most important foreign investor in Hungary as well as our most important trade partner (…) There are more than 300,000 Hungarians working for German-owned companies. Every year, German businesses spent EUR 2 bln-3 bln on new investments or developing existing ones in Hungary,” Szijjártó said.
He added that the government supported 324 major German investments over the past eleven years, helping the creation of 40,000 jobs.
Citing a study, the minister said that four out of five German companies who have invested in Hungary would do so again.
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