István Joó said decisions had been taken on 108 big projects with the support of Hipa.

He added that the largest investment volume had once again come from China.

Joó highlighted the positive assessment of Hungary’s tax system, higher education and vocational training, infrastructure and logistics by foreign businesses that invest in the country.

Over the past 16 years, the government has created the most competitive environment for investing and doing business in Europe, he added.

Joó said every forint of state support for investment generated 4.1 forints of budget revenue, citing an independent analysis.