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Investments

Construction on a new BMW plant to start in spring 2020

FM Szijjártó says further investment in the domestic automotive industry will strengthen Hungary’s economy.

BMW Group will begin construction of a new plant in Debrecen this coming spring and has already started recruiting employees as well. The municipality is preparing for an industrial area on the northwestern outskirts of the city; BMW Group signed a contract for the sale of the industrial area on September 24. BMW’s career development team will also initiate a recruitment campaign in the coming weeks, which will be extended to the whole territory of Hajdú-Bihar County in 2020.

Minister for Foreign Affairs and Trade Péter Szijjártó stated that with the plant, the Hungarian economy will continue to strengthen and that the Hungarian people deserve such developments in Hungary. The FM continued, saying that Hungary’s economy is now world-class, as evidenced by it holding the 34th-highest export performance, producing over one hundred billion euros of export goods and services each year.

Szijjártó also noted that a new economic action plan is needed early next year due to the slowdown expected for eurozone countries in 2020. The minister blamed Brussels for this, saying that the EU has failed not only in migration, but in economic policy, too. Fortunately, more and more valuable investments are coming to Hungary, and there is a growing demand for the products and services of Hungarian SMEs, which play a significant role in the supply chains of large multinational companies moving to the country.

BMW Group sold more than 2.49 million cars and more than 165,000 motorcycles worldwide in 2018. The company generated revenue of EUR 97.48 billion and a profit of EUR 9.82 billion in FY 2018. As of December 2018, the group employed 134,682 people worldwide.

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