Facts & Statistics

1,600 American companies employ 100,000 people in Hungary

Foreign Minister Péter Szijjártó says a new world economic era has arrived, and only companies that can adapt to the new challenges will succeed.

The minister made his statement via a video on Facebook, also mentioning that since the beginning of 2014, the government has supported the projects of 80 American companies, realizing a total investment worth EUR 1.1 billion.

There are ongoing negotiations with nine American companies for additional investments as well, he added. Hungary has also seen an 80 percent increase in Hungarian exports to the United States in recent years, which means that America is Hungary’s number one export partner outside the EU.

Szijjártó also spoke about the second wave of the coronavirus epidemic and the two main principles behind the government measures taken: the importance of protecting people’s health and lives and maintaining the viability of the economy.

The minister listed the measures recently introduced to curb the epidemic and added that Hungary would be the first country to receive samples of the Russian vaccine on Thursday. Results from testing will determine whether or not Hungary will buy the vaccine from Russia, he added.

At the same time, the government has also signed a cooperation agreement with a Chinese vaccine manufacturer and is involved in a European project to develop a drug against the coronavirus as well. The country is trying to get the vaccine from as many sources as possible, Szijjártó stated.

He also listed the four main aspects that had been taken into account when deciding upon economic measures to counter the impact of the epidemic:

  • Job protection
  • Investment promotion
  • Support for strategic industries
  • Ensuring the liquidity of companies

The minister stressed that one of the most important aspects is to encourage investment, as the government believes this is one of the best ways to protect jobs, instead of 

financing unemployment.

Szijjártó additionally reported on the government’s investment and training incentives and emphasized that the government is committed to low taxes and a simplified tax system.

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