“Every workplace that has become endangered must be protected, and every terminated job must be replaced”, Minister of Foreign Affairs and Trade Péter Szijjártó declared on Friday in Miskolc at a ceremony to present Fux Zrt. with its funding certificate within the framework of the Competitiveness-Increasing Program. The Minister said he is continuing to count on investment projects on the part of enterprises in the fight against unemployment.

“The modernisation and expansion of production is in the interests of both people who want to work and investors, who are now acquiring a significant competitive advantage”, he stated. Mr. Szijjártó also spoke about the fact that there can be no strong national economy without strong national enterprises. As he explained, “The government has forged an alliance with enterprises, in accordance with which we are financing work and job creation, and enterprises that realise investment and development projects now are acquiring a long-term competitive advantage, including on international markets”.

The Minister said that the government has contributed 282 million forints (EUR 780 thousand) in state funding towards the 565-million-forint (EUR 1.56 million) investment being realised by Fux Zrt., adding that the project is helping to preserve 200 workplaces and will be increasing the cable manufacturer’s export performance.

“The vitality of the Hungarian economy is indicated by the fact that 904 Hungarian enterprises have committed themselves to realising investment projects during the current, difficult period, and are performing 425 billion forints (EUR 1.177 billion) in investment, thanks to which they are protecting 155 thousand workplaces”, Mr. Szijjártó emphasised.

Managing Director of Fux Zrt. István Barkóczi spoke about the fact that the company was founded almost thirty years ago, and in 2019 the enterprise, which currently employs two hundred people, realised 14.783 billion forints (EUR 40.9 million) in turnover, following 13 billion forint (EUR 35.0 million) in 2018. “The company exports almost 85 percent of its production, primarily to Germany, Austria, the Baltic and the countries of Scandinavia. The company processes some 10 thousand tons of aluminium every year, and manufactures both insulated and underground cables”, he added.

(Ministry of Foreign Affairs and Trade/MTI)