Austria’s Knapp the latest investor to bring more jobs to Hungary

FM Szijjártó: Hungary has managed to make up for lost jobs, and 43,000 more people now work than a year ago.

Replacing lost jobs is a key issue in dealing with the economic effects of the pandemic, Péter Szijjártó, Minister of Foreign Affairs and Trade, said at a press conference announcing the nearly HUF 6 billion investment of Knapp Hungary Kft. on Tuesday.

The minister recalled that last year 456 people lost their jobs due to the closure of MTD Hungária Kft., and an area of ​​90,000 square meters remained empty in Nemesvámos.

There were 20 countries competing for Knapp’s investment and Hungary won it. 

The government is supporting the investment, which will create 500 jobs, with HUF 1.4 billion.

The minister pointed out that warehousing and logistics are of crucial importance to the Hungarian economy, and with the technological level of Knapp’s work in this field, it creates high value-added jobs.

Szijjártó emphasized that the last 1.5 years were a difficult period from both an economic and a health point of view, but Austria and Hungary were able to find effective answers to the difficulties. Cooperation between the two countries played an important role in this, he said.

Austria is the third largest investor and the second largest trading partner of Hungary.

Péter Szijjártó also said that the Hungarian machinery industry showed a 32 percent growth in the first five months of 2021. He added that if Hungary can break its export record, then economic growth of 5.5 percent can be achieved. 

Show More

Related Articles

Back to top button