The Hungarian Government assists further economic expansion through investor-friendly pro-growth measures, Minister for National Economy Mihály Varga said at the inauguration of Eagle Ottawa Hungary Ltd.’s new production facility of HUF 5.5bn in Szolnok. Thanks to the project, 800 new jobs are to be available until the end of 2017. The realization of this project is a symbol of foreign investors’ trust in Hungary, he added.
Leading foreign companies active in Hungary project longer and longer stays in the country, Mihály Varga pointed out. Recently completed investment projects result in the production of goods of ever larger added value, and more and more companies bring research and development capacities to Hungary. Among positive developments, the Minister mentioned the fact that in 2015 the value of investment totalled some HUF 5600bn in Hungary. This was more than the volume of investment in 2014, which was also a year of record growth, and the Government is expecting further investment growth.
As the Minister stressed, the Hungarian economy has been on a growth path, it has been characterized by financial stability and the income position of enterprises and households has also improved. The country’s GDP grew by 2.9 percent in 2015 and the number of people in employment has reached a 26-year record high. The surplus of the country’s foreign trade balance was up by EUR 1800bn compared to the high base of the previous year.
Eagle Ottawa Hungary Ltd, a member of the US-based Lear Group, has increased production volumes ever since it was founded in 2001, and it recently gives work to some 2000 people in the region. It has got a sizeable Hungarian supplier base, and the company has been operating its European R&D centre in Szolnok since 2009.
The company is one of the largest car industry suppliers, which contributes to the manufacturing of 95 car models in 15 countries, using the latest technologies.
(Ministry for National Economy)
