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138 million euros in Bavarian investments coming to Hungary

Christian Fernsby ▼ | July 11, 2019
“Bavarian enterprises are preparing to invest 45 billion forints (EUR 138 million) in Hungary in the short term”, Minister of Foreign Affairs and Trade Péter Szijjártó said in a telephone statement to Hungarian news agency MTI from Munich, where he held talks with the leaders of Bavarian companies.
Péter Szijjártó
European businesses   Minister of Foreign Affairs and Trade Péter Szijjártó
“Thanks to the lowest tax rates in Europe, our highly-trained workforce and the quality of our higher education system, Bavarian enterprises continue to have an extremely high level of confidence in Hungary”, the Minister declared.

Mr. Szijjártó highlighted the fact that the success of the Hungarian economy depends to a major extent on Bavarian economic processes, in view of which it is in Hungary’s interests for Bavaria to be successful so that Bavarian enterprises continue to realise investment projects in Hungary.

“It is in Hungary’s interests for Bavarian enterprises to realise the technological development projects made necessary by the new global economic era in Hungary”, he added.

“Bavarian enterprises continue to view Hungary as a place where it is worth investing. They regard us as a place where political calculability, a secure legal environment and favourable investment conditions are a given”, the Minister underlined.

Mr. Szijjártó met with representatives of Linde, the world’s largest industrial gas producer, and the regional leaders of automotive industry parts supplier the Schaeffler Group.

He held talks with Bavarian Minister of Economic Affairs, Regional Development and Energy Hubert Aiwanger and will be meeting with the Vice President of Siemens Mobility, which has interests in the rail sector.

The Hungarian Minister of Foreign Affairs and Trade will be holding talks with the owners of the Ózd Steel Works and with BMW’s head of manufacturing Oliver Zipse, who is being mentioned by the German press as a possible successor to the company’s retiring President and CEO.

The Minister explained that these enterprises are planning to bring new investment projects to Hungary thanks to which they will be developing the technological advances that are appearing as a necessary prerequisite in the new global economic era in Hungary and will be applying them first in Hungary.