Gov't Planning HUF 40 bln-50 bln Industrial Park Near Budapest

Logistics

Photo by rosstomei/Shutterstock.com

Government officials announced plans for a HUF 40 billion-50 billion logistics and industrial park on the outskirts of Budapest last week, according to a report by state news wire MTI.

Economic Development Ministry state secretary Janos Fonagy noted that Prime Minister Viktor Orbán had stressed Hungary's role as a "meeting point" between East and West at talks with business leaders in China during the week. To fill that role, Hungary needs to strengthen its logistics sector, and the planned industrial and logistics park on the edge of Erd and Budafok, could contribute to that endeavor, he said.

Deputy state secretary Ádám Nagy said the park would be set up on 68 hectares, two-thirds in Budafok and the rest in Érd. The project would involve the construction of 224,000 sqm of production and warehouse space, with private capital, eventually creating over 2,000 jobs, he added.

The government would work to accelerate the process of issuing permits for the investment, allowing its completion in 2-3 years, he said.

Industry Assoc Augurs Fall in Construction Output Analysis

Industry Assoc Augurs Fall in Construction Output

NVB Orders Recount of Invalid Votes in Budapest Mayor Electi... Elections

NVB Orders Recount of Invalid Votes in Budapest Mayor Electi...

Nearly 100 Hungarian SMEs Join Int'l Health Innovation Circu... Ecosystem

Nearly 100 Hungarian SMEs Join Int'l Health Innovation Circu...

Film Production Spending in Hungary Close to USD 1 bln in 20... Art

Film Production Spending in Hungary Close to USD 1 bln in 20...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.