Gov't stimulus supports EUR 400 mln of German investments in Hungary

Government

Photo by Aritra Deb / Shutterstock.com

Almost 100 German-owned companies have undertaken around EUR 400 million of investments in Hungary supported by government stimulus during the coronavirus crisis, state secretary Levente Magyar said at the annual year-opener of the German-Hungarian Chamber of Industry and Commerce (DUIHK) on Wednesday, according to a report by state news wire MTI.

The government has more crisis management and growth incentive programs that will support businesses in the works, Magyar said.

He noted that German-owned companies have made 134 big investments with a combined value of EUR 7 billion in Hungary in the past seven years.

DUIHK chairman András Sávos said the chamber's membership numbers reached 926 at the end of 2020. DUIHK will continue to support its members as an advocate and by offering concrete business services and data, he added.

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