Assessment Shows Hungarian-German Economic Ties 'Thriving'

Analysis

A joint assessment by the Hungarian Investment Promotion Agency (HIPA) and the German-Hungarian Chamber of Industry and Commerce (DUIHK) shows that German investors' confidence in the Hungarian economy is "unbroken" and economic ties between the two countries are "thriving", HIPA said last week.

DUIHK chairman András Sávos said at the meeting that Hungary is of "strategic importance" for many German businesses as a location for procurement, sales, and production.

HIPA noted that German-owned BMW broke ground for a EUR 2 billion plant in Debrecen, while Mercedes-Benz announced a EUR 1 bln development in Kecskemét and Audi celebrated the expansion of its new tool factory during the year.

Between 2014 and H1 2022, HIPA helped close deals with 171 German companies on investments of EUR 7.86 bln that created 32,000 jobs.

Over 2,700 German-owned companies employ 225,000 people in Hungary.

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