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Investments

The government continues its successful economic policy strategy

Minister of Foreign Affairs and Trade Péter Szijjártó attended the announcement of Swiss Krono Kft. in Vásárosnamény on Friday, where the company detailed its plans to expand its capacity.

At the event, the minister said the timber company will purchase new machinery worth HUF 2.3 billion by the end of September next year, more than doubling its current daily capacity.

The state is providing HUF 350 million for the development, in return for which the company has committed to retaining 150 employees.

Szijjártó said that the production value of the Hungarian timber industry reached HUF 460 billion in 2021, a 45 percent increase, and that in the first two months of this year the growth rate was 43 percent. 

The government is committed to fulfilling the will of the people and will therefore stick to its economic policy strategy, which “is about rejecting austerity, supporting investment, creating jobs and continuously reducing taxes on labor,” he said. 

The minister stressed that, based on the figures, 2021 was the most successful year in the history of the Hungarian economy, when economic growth, export performance, investment and employment all broke records; and all of this required the creation of one of the best investment environments in Europe.

 “Supporting families and creating jobs will continue to be our top priority,” he said.

Finally, Szijjártó said that in 2021, the record for Swiss-Hungarian trade was broken, with a value of around EUR 1.8 billion, and that the increase was mainly driven by the growth in Hungarian exports. He also pointed out that Swiss companies are the 10th largest investor community in Hungary, with more than 900 companies employing around 30,000 people in the country.

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