“The domestic automotive industry could generate 10 thousand billion forints-a-year (EUR 31bn) in production value, significantly exceeding last year’s record of 8 thousand billion forints (EUR 24.8bn)”, Minister of Foreign Affairs and Trade Péter Szijjártó declared on Wednesday in Budapest at the Automotive Logistics Central and Eastern Europe 2018 Forum.
According to Mr. Szijjártó, in addition to the investments made so far, a new production record by the sector is also made likely by heightened interest on the part of new automotive industry investors. “The car plants and automotive industry suppliers operating in Hungary continue to play a key role in exports, which are vital to the Hungarian economy, and in maintaining growth”, he added.
The Minister said it was a clear success that Hungary has been included in the top twenty car exporters, which produce 90 percent of the world’s car exports, for the first time.
As he explained, the Government has created all of the necessary conditions to assure that Hungary will also be successful in the automotive industry’s innovative era, and is supporting the development, production and proliferation of electric and self-driven vehicles. From among these measures, he highlighted the investment promotion system and the establishment of the required infrastructure, pointing out that the technological and digital changes ongoing within the automotive industry are driving the transformation of the whole global economy.
(MTI)
