(Photo: Ministry of Foreign Affairs and Trade)

Speaking at an automotive conference organized by the Hungarian Investment Promotion Agency (HIPA) today, Szijjártó said that production volume of the Hungarian automotive sector reached HUF 7.8 trillion in 2015, 17.6% more than in 2014, the Ministry of Foreign Affairs and Trade reported in a statement. Employment in the sector increased by 13% as compared to the preceding year, exceeding 149,000 jobs, the ministry added. 

HIPA is currently negotiating 169 possible investment projects, with approximately 40 of them being tied to the automotive industry, HIPA chairman Róbert Ésik said at the conference, Hungarian news agency MTI reported. According to the chairman, these 40 investment projects could create 8,000 new jobs.

Of the successful investment projects HIPA has been involved in recently, half were connected to the automotive industry, MTI reported, adding that these projects brought €1.6 bln in investments to the sector in the last two years, and also created 8,000 jobs, according to Ésik.