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ITD Hungary brings €894 million to Hungary in 2009

The Hungarian Investment and Trade Development Agency (ITD Hungary) drew €894m in foreign investments to the country in 2009, head of the agency György Rétfalvi said on Thursday.

The money went toward 27 investments that created a combined 5,461 workplaces, Rétfalvi said. This year, investments will probably reach more than €1 billion, he added.

In 2008, ITD Hungary was instrumental in 30 investment decisions worth a combined €1.55 billion. These investments included a €825 million Mercedes plant that will create 2,500 jobs.

ITD Hungary is in talks on 32 investments on which final decisions could be made in 2010, Rétfalvi said. The investments are worth about €1.5 billion and could create some 8,000 jobs, he added.

Positive decisions have already been made this year on two investments, the one worth about $20 million and the other $10 million. One of the investments is in the area of electronics and the other is in the service sector.

ITD Hungary gets 700-800 inquiries a year, of which 250-300 become potential projects.

ITD Hungary was partners with more than 1,400 companies a the end of 2009 and the number is expected to exceed 2,000 by March. Based on data from almost 1,000 of these companies, exports of ITD Hungary's partners grew 12% in 2009 and their headcount rose.

ITD Hungary organized more than 200 events in Hungary and abroad last year. It assisted Hungarian companies at 152 trade fairs and 61 conferences in Hungary.

ITD Hungary has a budget of HUF 6.34 billion in 2010, including HUF 1.9 billion in central budget support, HUF 2.78 billion in European Union grant money and HUF 1.67 billion of its own revenue. (MTI-ECONEWS)