Hungary’s response to the global economic crises (caused by the coronavirus pandemic) has been to introduce a strong package of incentives that have provided a powerful stimulus to attract massive amounts of Foreign Direct Investment (FDI) into Hungary.
Since last year in 2020 the government of Hungary offered, to cover half of the value of an investment, to international corporates and businesses planning investments in Hungary, if workers were retained. This dynamic economic stimulus package has resulted in an unparalleled magnitude of FDI investment, and also more people presently at work in Hungary, than before the coronavirus crisis.
1435 Enterprises have participated in the investment incentive scheme, with investments amounting to 4.8 Billion Euros and as a direct outcome, 270 Thousand jobs have been saved and another 13 Thousand additional jobs have been created.
The Hungarian economy has substantially escalated its economic production output, since 2010 by 70 %; while over the past 7 years, international investors successfully executed 590 investments, totalling a combined value of 22 Billion Euros, which in turn created 99 Thousand new jobs.
The Hungarian Minister of of Foreign Affairs and Trade, Péter Szijjártó together with his Ministry and the Hungarian Investment Promotion Agency, are certainly to be commended and recognised for doing a sterling job of directing, supporting and pursuing pro-economic development and investment policies for the benefit of Hungary. These policies and initiatives have in turn also had a positive economic ripple effect on surrounding Central European states, as well as making a positive contribution to the EU’s economic development and growth.