Are you sure?

Japanese automotive industry company plans €50 mln investment in Hungary

A Japanese automotive industry company plans to invest €50 mln in Hungary in the near future, state secretary for economic diplomacy Levente Magyar told Hungarian news agency MTI on the telephone from Tokyo yesterday. 

Magyar did not name the company, but said the investment would create 200 jobs. Japanese companies have invested about €1bn in Hungary in the past two years, creating almost 4,000 jobs, Magyar said.

Japan's Nissin Foods plans an expansion at its base in Kecskemét (central Hungary) that will also create 200 jobs, he added. Diamond Electric will launch a development at its base in Esztergom (northern Hungary) also in the millions of euros, Magyar said.

He noted that Hungary's farm exports to Japan rose 70% last year and reached $130 mln in January-November. Mangalitsa pork and honey are the most popular Hungarian farm products in the country, he added. Magyar met with deputy foreign minister Minoru Kiuchi and economic affairs bureau director Naoko Saiki during his two-day visit to Japan.