Szijjártó: Incentives draw EUR 5.3 bln of investments to Hungary

Government

Graphic by One Photo / Shutterstock.com

Decisions on EUR 5.3 billion of investments, the equivalent of HUF 1.886 trillion, were made under the government investment incentive scheme, Minister of Foreign Affairs and Trade Péter Szijjártó said in a post on Facebook yesterday, highlighting last year's two most significant investment decisions. 

The record amount was supported by EUR 766 million, or HUF 270 bln, in government subsidies, Szijjártó said. He noted that South Korea's SK Innovation set a new record for a greenfield investment in the country with a decision to build a HUF 680 bln electric vehicle battery plant in Iváncsa (50 km south of Budapest). 

Another South Korean company, EcoPro, was responsible for the second-biggest investment, and Turkey's Sisecam the third, he said. EcoPro will build a HUF 264 bln cathode plant in Debrecen (225 km east of Budapest) with capacity to outfit 1.35 million EVs a year. Sisecam will construct a HUF 73 bln glass packaging plant in Kaposvár (185 km southwest of Budapest). 

Decisions on investments over EUR 100 mln were also taken by U.S.-based Becton Dickinson, Denmark's Lego, Germany's Bosch and Vitesco, and Hungarian-owned Pick, Szijjártó said.

ADVERTISEMENT

EU-funded fact-checking website in Hungary launches Analysis

EU-funded fact-checking website in Hungary launches

General elections to be held on April 3 Elections

General elections to be held on April 3

Microsoft Hungary head Chris Mattheisen discusses the Vatica... Podcasts

Microsoft Hungary head Chris Mattheisen discusses the Vatica...

Most districts not planning mandatory vaccination at kinderg... City

Most districts not planning mandatory vaccination at kinderg...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.