Hungarian Investment Promotion Agency

We are living in turbulent times, several countries in Western Europe are struggling with recession, and there is a looming trade war. Under such circumstances, we must do everything to protect the achievements of recent years – underlined the Government Commissioner for Investment Promotion and Implementation of Large FDI Projects in TV2’s Mokka program.

Mr. István Joó highlighted that the one million new jobs created since 2010 must be preserved, and new ones must be generated. To achieve this, negotiations on factory constructions will be accelerated, and foreign investors already operating in Hungary will be supported to help them succeed in the fierce internal competition within their corporate groups for new capacities, products, and services.

He pointed out that building a factory is always a project with far-reaching impacts, as the developments linked to these investments, ranging from the education system to utilities and transportation infrastructure “positively affect” local communities.

However, this is only one pillar of the 100 New Factories Program.

It is equally important to ensure that domestic companies become increasingly integrated into international value chains and that the symbiosis between Hungarian firms and foreign investors is strengthened

– Mr. István Joó added.

HIPA’s CEO underlined that significant progress has already been made in this area, as was evident at the recent Investor of the Year awards ceremony. The gala, held at the Museum of Fine Arts, honored key players in the Hungarian economy, including Videoton Holding Zrt., one of Europe’s largest electronic contract manufacturers, which won the Award for Best Supplier, and Hell Energy Hungary Kft., a major player in the global energy drink market, operating in 60 countries across five continents, which received the Award for Continuous Reinvestment.

Mr. István Joó also highlighted that investors are welcome from all directions in the coming period.

The East and the West are equally important, and the fact that the new Washington administration is sympathetic to Hungary could further expand opportunities

– concluded the CEO of HIPA.