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HIPA-advised investments create 12,995 jobs in Hungary in 2015

Int’l Relations

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The Hungarian Investment Promotion Agency (HIPA) advised a total of 67 investment projects over the last year, a 12% rise compared to the preceding year, that resulted in the creation of 12,995 new jobs in Hungary, up 21% from the previous year, the agency announced at a press conference today.

Through these investments more than €1.4 million, approximately HUF 435 billion, in working capital was channeled into Hungary from abroad, HIPA noted.

The automotive sector received 17 of the 67 investments, while the SSC sector saw 12 and the ICT sector saw seven investments, HIPA noted. German companies made the most investments over the year financing 31% of all projects. Out of the 67 investments, 14 were of German origin and 11 from the United States, HIPA said.

HIPA added that it is currently negotiating 169 active investment deals with foreign companies. Under the current parameters, if the deals go through, 27,000 jobs could be created as a result of investments totalling €4.6 mln. However, final decisions have not yet been made by the companies.

“Out of the 67 investment projects, 21 companies entered the Hungarian market for the first time, while 46 companies already active in Hungary decided to reinvest in the country,” Hungary’s Minister of Foreign Affairs and Trade Péter Szijjártó said. The foreign minister noted that based on these figures, those companies that decided to reinvest their profits in Hungary have demonstrated their confidence in the country and that they see it as a worthy investment.

“The agency is planning to place more emphasis on the needs of its clients, as well as offering a renewed support system, to boost investment in Hungary from abroad, and make this year more successful than 2015” HIPA President Róbert Ésik said at the event.

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