2023-11-07 15:35:45
Körber Hungary
Written by Rainer Ackermann
“German entrepreneurs do not decide on investments in Hungary on the basis of press reports, but based on their own experiences.” Foreign Trade Minister Péter Szijjártó said this on Monday in Pécs.
Announcing a new investment by Körber Hungária Kft., he added that bilateral economic cooperation will develop as long as it is based on reality. The manufacturer of machines for the food and tobacco industries is investing more than 5.6 billion forints (almost 15 million euros) to expand its capacities and increase efficiency. The company, which employs around 1,200 people, will also build a solar park as part of the project, which is receiving state funding of 850 million forints.
There was strong competition for this investment project from a group that operates two dozen manufacturing facilities on four continents. This proves the thoroughness that is particularly inherent in German business people, who make their decisions based on experience and not on press reports. Szijjártó referred to Hungary’s resilience to crises and said that this would not be the case if cooperation with the closest economic allies did not constantly develop.
Germany is clearly in first place among Hungary’s economic allies, because companies from Germany still form the largest investor community today, “and we also have the largest trade turnover with Germany.” Bilateral trade reached a record level of 67 billion euros last year and could well reach 70 billion euros in 2023. This is not least due to the fact that Germany will once again be the second largest foreign investor in Hungary after China this year.
#competition #continents