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German-Hungarian chamber signs agreement

Automotive

The German-Hungarian Chamber of Industry and Commerce (DUIHK) said it signed a cooperation agreement with the Hungarian Investment Promotion Agency (HIPA) today.

The main aim of the agreement is to foster further economic ties between the two countries.

Foreign Minister Péter Szijjártó citing a report by the chamber said at the event, that capital expenditures of German companies in Hungary are set to rise 27% by the end of this year. The report also reveals that German companies are planning to raise headcount in their Hungarian businesses by 29% this year.

Some 6,000 German-owned businesses in Hungary employ 300,000 people.

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