Szijjarto: the Hungarian economy supported by several pillars
A remarkable achievement of the last 10 to 12 years is that the Hungarian economy is supported by several pillars and many of its sectors are globally competitive, Peter Szijjarto, Minister of Foreign Affairs and Trade, told Aszod on Tuesday. , announcing an investment by Turkish group Sisecam, which manufactures glass products for the automotive industry.
The country’s economic diversity has helped it weather the global economic crisis, Szijjarto said.
The Ministry of Foreign Affairs noted in a statement that the government was providing a grant of 650 million forints (1.8 million euros) to support the 3 billion forint development of Sisecam which is to be completed by the end this year, creating 100 jobs.
Szijjarto said at the event that coronavirus-related restrictions had cost the country 10-15 billion forints every day, so reopening the economy two months before competitors had been of huge importance and had contributed to the record investment in the country and an annual growth of more than 6%. .
The minister said the government had launched “one of the biggest investment promotion programs ever”, with 290 billion forints granted to support 30 industries to boost competitiveness.
Noting that car manufacturing is “the backbone of the Hungarian economy,” he said it was essential for suppliers to increase their capacity. The sector’s output in the first 11 months of last year totaled 8.7 trillion forints, while car manufacturing provides 160,000 jobs in the country, he added.
Turkey, he said, is a “strategic partner and friend” of Hungary. Bilateral trade turnover increased by 15% in 2021 and was worth 4 billion euros, he added.
In 2021, Sisecam announced a new 73 billion plant in Kaposvar, creating 329 new jobs.