Despite all the difficulties, already based on the data of the first three months of this year, it can be said with certainty that the record of investments in Hungary will be broken in 2023 as well - announced Minister of Foreign Affairs and Trade Péter Szijjártó on Thursday in Alsónémedi.

According to a statement from the Ministry of Foreign Affairs and Trade, the head of the department reported at the handover of the reinforced concrete element manufacturing plant of Ineton Kft. that 120 new jobs will be created by the construction company's HUF 16 billion investment by August this year, for which the state provided HUF 2.4 billion in support.

IN HIS SPEECH, FIRST OF ALL, HE SPOKE ABOUT THE CURRENT DIFFICULT CIRCUMSTANCES, UNDERLINED THAT IN THE LAST THREE YEARS, THE WORLD ECONOMY HAS TURNED TO THE TOP OF ITS HEAD DUE TO THE CORONAVIRUS EPIDEMIC AND THE WAR IN UKRAINE.

He emphasized that the price of the armed conflict is paid by the whole of Europe, however, those living in the neighborhood encounter these effects in a particularly serious and direct way, be it in terms of energy or inflation.

He believed that the fact that green field investments fell by 15 percent in the European Union last year compared to the year before, but compared to this, the inflow of working capital in Hungary set a record, and an agreement was reached on an investment of 6.5 billion euros.

Political stability, the investment environment, and keeping tax burdens at a low level have maintained the state according to which ours is certainly the most attractive investment environment here in Central Europe, but also in Europe as a whole

he said.

"During this difficult period, it became clear to everyone that everything depends on investments in terms of the success of an economy. If there are investments, then the given country can keep its economy on a growth path even in this difficult period, if there are no investments, then recession and mass unemployment will follow," he added.

PÉTER SSIJJÁRTÓ EMPHASIZED THAT THIS IS EXACTLY WHY THE COMPETITION FOR INVESTMENTS IS HUGE ALL OVER THE WORLD, AND IT IS CLEARLY SEEN THAT SOME GOVERNMENTS "DO NOT CHOOSE IN ANY WAY IN ASSETS".

"Nowadays, not only the support given to companies is a means of competition, but also the uncertainty of investors regarding the other country. Well, we've seen plenty of such experiments in recent weeks and months from Europe and from outside Europe," he declared.

HE THEN WELCOMED THAT DESPITE ALL SUCH ATTEMPTS, THE CONFIDENCE OF ECONOMIC ACTORS IN THE INVESTMENT ENVIRONMENT OF HUNGARY STILL REMAINS INTACT.

Thanks to this, as he said, it can already be seen based on the data of the first three months of this year that the investment record will be broken in 2023 as well, in which the construction industry, which is now becoming one of the main sectors of the Hungarian economy, has a huge role to play.

The minister stated that in 2021, the sector produced a 12 percent increase, which was the third highest in the EU, and last year its production value approached HUF 7,000 billion, which is exactly four times the figures registered in 2010.

ADDITIONALLY, MORE THAN 380,000 ARE ALREADY WORKING IN THIS SECTOR, WHICH REPRESENTS AN INCREASE OF 40 PERCENT OVER TEN YEARS.

Regarding the investment that has just been handed over, he said that the elements produced in Alsónémedi will greatly contribute to increasing the efficiency of the Hungarian construction industry, speeding up construction work and reducing costs.

He also informed that Hungary currently ranks 22nd in the world ranking in the export of manufactured elements, but this will not improve any further, as the domestic market will absorb the entire production here.

Source: Origo

Featured image: MTI/Szilárd Koszticsák