“Thanks to security and the favourable investment environment, Hungary is also one of the world’s most attractive investment destinations in international comparison, but provincial Hungary must be further reinforced in the interests of new investments”, Minister of Foreign Affairs and Trade Péter Szijjártó said on Tuesday in Budapest at a press conference to announce a new investment project by Ravaber.

The Minister told reporters that the Government is assisting the 6.4 billion forint (EUR 20.5 million) project being realised through cooperation between the Belgian Ravago Group and Turkish company Besler Tekstil, which will create 90 new jobs, with non-returnable funding of 1.24 billion forints (EUR 4 million).

“The factory, which will be constructed in Alsózsolca, will produce 36 thousand tons of insulating material each year, two thirds of which will be sold outside the country, meaning last year’s record Hungarian exports of 100 billion euros will increase further”, Mr. Szijjártó added.

The workforce is one of the most important factors for investors, and the Borsod region still has workforce reserves despite the fact that unemployment in the region has fallen by two thirds since 2010, the Minister pointed out, adding that he believes the investment on the part of the Belgian-Turkish investment group is particularly important and pointing out that Turkey will soon become one of the world’s ten strongest economies, in view of which he called for the further reinforcement of relations.

The region’s Member of Parliament Katalin Csöbör welcomed the fact that the region has seen a regular flow of new investments in recent years. “The investments are the joint achievement of the dependable political and economic environment, and the performance of Hungarian workers”, she highlighted. According to the MP, the Government has recognised that the production sectors and a significant proportion of the 750 thousand new jobs created since 2010 require trained workers. Ravago’s Business Director Tomas Keisers stressed that the production of insulation materials has a bright future in view of the fact that saving energy is becoming an increasingly important criteria throughout the world. According to plan, the plant with both contribute to the region’s development and to the company’s expansion in Europe, he said.

(Cabinet Office of the Prime Minister/MTI)