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Szijjártó: 60% of FDI in Hungary in 2019 from East

The past 10 years have proven that the government’s Eastern Opening strategy launched in 2010 was a successful decision, said Peter Szijjártó, Minister of Foreign Affairs and Trade at the inauguration ceremony of a new digital competence center at Tata Consultancy Services (TCS) in Budapest, writes origo.hu.

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The new TCS office in Budapest will create 500 new jobs alongside the existing 2,500. Szijjártó emphasized that the role of the East in the world economy is constantly growing.

While in 2007, 81% of global investment was made from Western capital, and 17% from Eastern capital, by 2018 58% of all global investment was from Eastern capital, and ever more technological innovations are coming from it.

The minister noted that about 60% of the value of investment in Hungary last year came from the East, with 40% of new jobs created last year from Eastern companies, origo.hu added.