“Bavarian enterprises are playing a very important role in the development of the Hungarian economy”, Minister of Foreign Affairs and Trade Péter Szijjártó pointed out on Friday from Nuremberg.

“146 major Bavarian enterprises have realised a total of over 1800 billion forints (EUR 5 billion) of investment in Hungary to date, and provide a dependable living to more than 50 thousand Hungarian people and families”, Mr. Szijjártó emphasised. “Audi, BMW, Knorr-Bremse and Siemens are enterprises that fundamentally determine the performance of the Hungarian economy”, the Minister explained. “In addition, they also contribute to enabling the dimensional transition of the Hungarian economy to occur are rapidly as possible, and for it to develop into a knowledge-orientated economy”, he added.

Mr. Szijjártó pointed out that despite the difficulties posed by the coronavirus epidemic, Bavarian enterprises have kept on supporting Hungary, and have decided in favour of financing the fight against unemployment. “Thanks to the Hungarian government’s policy of funding enterprises, aimed at protecting workplaces, thirteen Bavarian companies have committed themselves to realising new investment projects in Hungary”, the Minister pointed out. “These enterprises will soon be realising eight billion forints (EUR 22 million) in investment, with which they will be protecting thousands of jobs”, he added. “In the spirit of efficiency, there is major competition for the redistribution of capacities, and Hungarian-Bavarian cooperation could make the economies of both countries the winners of the new global economic era”, the Hungarian Minister of Foreign Affairs and Trade highlighted.

(Ministry of Foreign Affairs and Trade/MTI)