“In addition to investments in Hungary on the part of foreign large enterprises and successfully operating Hungarian-run large enterprises, economic growth also requires medium-sized enterprises that are also competitive abroad”, Minister of Foreign Affairs and Trade Péter Szijjártó said at a press conference held to announce the launch of an investment project by Spinto Hungaria Limited.
The Minister told reporters that the 5.9 billion forints (EUR 19 million) investment in Miskolc would create 140 new jobs in the new tool manufacturing plant, and that the Government will be contributing 2.4 billion forints (EUR 7.7 million) in non-returnable funding towards the project. Mr Szijjártó justified the outstandingly high level of funding with the fact that the new plant will be filling an important gap in the market, in addition to creating his added value and increasing eh competitiveness of the Hungarian economy. “Furthermore, in addition to some 100 automotive industry skilled workers, the new facility will also employ 35 engineers and participate in dual training programmes”, he added.
According to Mr. Szijjártó, the success of the Government’s reindustrialisation policy is indicated by the fact that increasing numbers of medium-sized enterprises are gaining strength despite “turbulent global economic conditions”. “Spinto’s automotive industry-related investment is the eleventh Hungarian investment among the 69 investment projects being realised this year within the framework of Hungary’s investment promotion system”, he told the press.
The Minister added that the automotive industry had achieved record production according to the latest figures for the first eight months of this year, exceeding last year’s record to exceed 5320 billion forints (EUR 17bn), while the number of people employed within the sector increased by 10.7 percent to over 160 thousand.
Mr. Szijjártó highlighted the fact that there is already significant demand for the products that will be manufactured by the plant, in view of the fact that tool production also determined the competitiveness of the automotive industry. The three hectare area of land enables the expansion of the company’s existing, 5 thousand metre production hall, the innovation level of which is on a par with German tool production, or the construction of a new building. “Miskolc has returned to a position in which it could once again be one of the bastions of Hungarian industry; the rate of unemployment in the Borsod County capital has fallen to 5.5 percent”, he emphasised.
Managing Director János Pócs told reporters that the first employment contracts have already been concluded, and successful professionals who are also recognised abroad have returned to Hungary thanks to the investment. Mr. Pócs highlighted the support received from the Municipality of Miskolc and the fact that the Government had been supportive of the investment from the very beginning and designated it as a priority project.
The region’s Member of Parliament (Fidesz) Katalin Csöbör welcomed the fact that a Hungarian company has also appeared among the series of new investments realised in the County capital. “Spinto’s tool manufacturing plant is bringing new technology to Miskolc, and the competitive medium-sized enterprise could play an innovative role in the city’s industry”, she added. “Miskolc is doing everything possible to regain its old reputation (as one of Hungary’s major industrial cities), and the city’s leaders would like to provide all possible support to projects that create jobs”, the MP highlighted.
(MTI)
