Turkey’s Sisecam receives 1.8 million euro grant from Hungarian state

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, Foreign Affairs and Trade Minister Aszód Péter Szijjártó told 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, Szijjártó said.

The Foreign Office noted in a statement that

the government is providing a grant of 650 million forints (1.8 million euros) to support the 3 billion forints (8.3 million euros) development of Sisecam which is to be completed by the end of this year, creating 100 jobs.

Szijjártó 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 enormous importance and had contributed to the record investment in the country and an annual growth of more than 6%. .

The minister said

the government has 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.

Read alsoTurkey-Visegrad Group Foreign Ministers Meeting Held in Budapest

Laura T. Thrasher