“The major investments that arrived in Hungary last year are creating over 13 thousand new workplaces, and are affording Hungary an outstanding place in the global investment rankings”, the Ministry of Foreign Affairs and Trade’s Parliamentary State Secretary said at a press conference on Thursday.

Levente Magyar welcomed the fact that Hungary is increasingly becoming an investment destination for sectors that include a high knowledge content, since the jobs being created as a result also generate higher added value. In his opinion, this is also indicated by the fact that last year’s major investments are offering their employees fifty percent higher salaries than in previous years. “The territorial distribution of major investments also became more favourable in 2019, in view of the fact that Budapest and Pest County were closely followed by Szabolcs-Szatmár Bereg, and Borsod-Abaúj-Zemplén counties in the investment rankings”, he added.

The State Secretary also highlighted the fact that one third of these new job opportunities are being created by three East Asian countries: China, Japan and South Korea, the latter of which led the 2019 investment rankings. “Last year’s job creation on the part of major investors is also outstanding in global comparison, since Hungary was placed 16th in the rankings on this basis and in 5th place in proportion to its population”, Mr. Magyar said, citing global comparative data. He also said it was a major achievement that investments in Hungary were placed 11th in the global rankings with relation to added value, while Hungary is in 9th place with relation to research & development investment projects according to last year’s figures.

As he explained, the record 1705 billion forints (EUR 5.1 billion) in investment is not only advantageous with relation to Hungary’s international position, but is also a favourable result for the people of Hungary. According to the State Secretary, this also justifies the fact that the government will be continuing the development of infrastructure that attracts investment, and primarily of transport opportunities. From among these, he highlighted the expansion of motorway connections with neighbouring countries. “Over the next 3-4 years the number of motorways that extend to the border will be increasing from 4 to 12, significantly improving Hungary’s links to its most important foreign trade partners”, he added.

(MTI)