Facts & Statistics

Szijjártó: two record investment decisions last year

Close to HUF 2 trillion (nearly EUR 5.5 billion) of investments arrived in Hungary through the Investment Promotion System.

Foreign Minister Péter Szijjártó wrote in a Facebook post on Wednesday that while the news from the global economy was almost exclusively negative last year, “we broke two huge investment records.”

Just under HUF 2 trillion (nearly EUR 5.5 billion) of investments were agreed upon through the investment incentive scheme, a new record. For all these investments, the government has provided HUF 270 billion ( EUR 766 million) in support, he added.

He stressed that the largest-ever greenfield investment was Korea’s SK Innovation’s electric battery factory in Iváncsa for HUF 680 billion.

Eight other investments totaling more than EUR 100 million will also move forward. The two largest of these are Korea’s Eco Pro and Turkey’s Sisecam, followed by America’s Becton Dickinson (4th), Denmark’s Lego (5th), Germany’s Bosch (6th) and Vitesco (7th), and Hungary’s Pick (8th). 

Last year, 60 percent of the investments in Hungary came from the East, but most of the investment projects (24 out of a total of 96) were linked to German companies, Szijjártó pointed out.

Every county except one received at least two significant investments last year. The three eastern counties of Szabolcs-Szatmár-Bereg, Borsod-Abaúj-Zemplén and Hajdú-Bihar came in second, third and fourth place, respectively, for investments received.

Szijjártó stressed that “this great success is the success of the Hungarian people” and that a high-performing Hungarian workforce is always one of the most important criteria for investment. This, combined with a steadily declining tax burden, developing infrastructure, increasingly efficient higher education and political stability, has made Hungary one of Europe’s most attractive investment destinations, the minister concluded.

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