During the crisis, a record amount of investment began in Hungary

According to a statement from the Ministry of Foreign Affairs and Trade, Péter Szijjártó emphasized at the handover ceremony of Hoffmann Neopac AG's investment in packaging material manufacturer Debrecen that the expansion of production capacities and the development of technology began with great efforts in Hungary. " In the second quarter of this year, the value of investments increased by 10.8 percent, which means that HUF 1,700 billion worth of investments are currently being made across the country, " the foreign minister emphasized.

Regarding the investment in Debrecen, he said that the purpose of the development is to expand the capacity of the Swiss tube manufacturing company. For the HUF 6.5 billion project, the state provided HUF 843 million in support, in return for which the company gave a guarantee to maintain the 176 employees and to create another 25 new jobs.

In his speech, the minister highlighted that while the left considered it desirable to increase aid and borrowing in order to deal with the crisis, the government chose a different path.

„We did everything in order to prevent masses from losing their jobs, and so that Hungarian companies could prepare for the period when market demand finds itself again.”

Péter Szijjártó called the Swiss-based company's investment a joint success, which, according to him, can contribute to the growth of Hungary's gross domestic product (GDP) reaching 5.5 percent this year, and the state will then reimburse the personal income tax paid by families raising children.

He added that environmental protection and economic development go hand in hand in the government's economic strategy, so it is important that Hoffmann Neopac AG will produce recycled tubes in the city of Hajdúság. As he announced, the plant will have four production lines instead of two, and almost 100 percent of the products will be exported.

The minister also touched on the fact that Swiss companies make up the 11th largest investor community in Hungary, and Switzerland is our second largest trading partner in Europe in the ranking of countries outside the European Union. The trade turnover between the two countries reached a peak of 1.7 billion euros last year, and the growth was 10 percent in the first half of this year as well.

Finally, he reported that the packaging industry achieved a 22 percent increase in the first six months of 2021, which means HUF 400 billion in production value, and the industry employs 22,000 people in Hungary.

MTI

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