“The success of the Hungarian economy is to a great extend dependent on what kind of new production and research capacities arrive in Hungary”, Minister of Foreign Affairs and Trade Péter Szijjártó said in a statement to Hungarian public media on Wednesday from Germany.

According to Mr. Szijjártó, we are “right to be confident” in view of the fact that over the past five years we have repeatedly broken all previous records relating to the volume of investment in Hungary. “Hungary’s investment environment is clearly the most competitive and favourable in Central Europe”, he stated.

“This is being further improved by the major, comprehensive investment program that will be launched next week following the authorisation received from the European Commission”, he stated. “Within the framework of the program, we will be providing funding with no upper limit to enterprises that undertake to realise investment projects in the interests of preserving their current number of employees, up to a maximum of 50 percent of the amount invested”, he announced.

“In addition, the rate of the social contribution tax payable by employers will also be cut by a further 2 percent, thanks to which employers will be able to spend the money saved on increasing employee wages or for operational or development purposes”, he explained. “Baden-Württemberg is Hungary’s second most important trade partner within Germany. The 290 companies from Baden-Württemberg operating in Hungary provide jobs for 70 thousand Hungarians, and companies from Baden-Württemberg are in negotiation on the further expansion of their capacities even now”, the Minister stated.

“All of the measures introduced within the framework of the Economy Protection Action Plan are inspiring enterprises to examine opportunities to realise further investments in Hungary”, Mr. Szijjártó added.

(MTI8Cabinet Office of the Prime Minister)