“Hungary is successfully transitioning to the new digital era, which signifies the revolutionary renewal of the economy, as also indicated by investments on the part of giant corporations from Baden-Württemberg such as Bosch, Daimler and SAP”, Minister of Foreign Affairs and Trade Péter Szijjártó said in a statement to Hungarian news agency MTI on Wednesday in assessment of his meeting in the German state’s capital, Stuttgart.

The Minister highlighted the fact that the Hungarian economy has reached the border of a new era, in view of the fact that the global economy is entering a new phase in which the application of technologies ‘that we could never even have dreamed about before’ is becoming an everyday thing, and accordingly the success of countries’ transition to the new era is determined by where the major companies that are at the forefront of the new phase of the global economy place their investments.

Hungary is successful in this transition, as indicated by the fact that large corporations that are “dictating the pace” of the digital era “are bringing their new investments to Hungary one after the other”, Mr. Szijjártó underlined.

“Daimler is constructing its second plant in Hungary, which will be one of the automotive industry company’s ‘most innovative factories’, and Bosch is also launching a host of engineering investments in Hungary that produce the technologies required for self-driven cars and electromobility, and amongst others gearbox manufacturer ZF is also doing so, the Minister said.

In his telephone statement, the Minister highlighted the fact that his negotiating partners had all assured him that “they view the investment environment as particularly favourably and will be bringing new investments to Hungary”.

“The Zalaegerszeg automotive industry test track and the 2019 budget act and tax act are also aimed at enabling Hungary to continue to attract the most important investments of the digital industrial era”, Mr. Szijjártó said.

In addition to his meetings with business leaders, the Minister also met with Green Party politician and Minister-President of Baden-Württemberg Winfried Kretschmann. With relation to the meeting, Mr. Szijjártó said that both parties value existing economic and education cooperation, and pointed out that the Government of Baden-Württemberg is one of the chief patrons of Budapest’s Andrássy Gyula German Language University.

Mr. Szijjártó added that the Minister-President had also invited him to make an official visit in October, during which the parties will not only discuss economic and education-related issues but also their political relations.

(MTI)