German firms have created over 300,000 jobs in Hungary, Péter Szijjártó, the international affairs and commerce minister, mentioned throughout a break between his talks in Essen, western Germany, on Tuesday.
Hungary’s cooperation with German firms is predicated on mutual advantages, Szijjártó instructed MTI by cellphone. The minister argued that Hungary’s engaging funding surroundings allowed German firms to make investments that strengthen their roles within the world financial system whereas growing the value-added and the proportion of analysis and improvement in Hungarian workplaces.
The Hungarian financial system, he mentioned, “is due to this fact coming into a brand new dimension dominated by providers and R+D with the assistance of German firms”.
The minister mentioned new funding tasks by German firms have been to be anticipated in Hungary.
Szijjártó is holding talks in Essen and Stuttgart with firm leaders, together with these of ThyssenKrupp, Bosch, Daimler and SAP.
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Hungary is in talks with a number of companions on new funding tasks, the specifics of which will probably be introduced quickly, he mentioned.
Szijjártó mentioned Hungary’s financial system safety motion plan may “encourage” additional German investments, arguing that the Hungarian authorities’s measures would scale back employer tax burdens and lower purple tape.
The minister mentioned huge adjustments have been afoot within the world financial system, including that it was “not an exaggeration to say that we’re coming into a brand new period of the worldwide financial system”.
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German firms play an essential position in setting the tempo of those adjustments, Szijjártó mentioned. He mentioned this was “excellent news for Hungary”, arguing that the economies of Germany and central Europe, and extra particularly the German and Hungarian economies, have been strongly linked collectively.
The Hungarian and German economies are mutually depending on each other, Szijjártó mentioned, stating that 30 p.c of Hungary’s international investments come from Germany.
Within the featured photograph: chief govt officer of Tyssenkrupp AG, Guido Kerkhoff (left) and FM Péter Szijjártó. Picture by Mitko Sztojcsev/Ministry of International Affairs and Commerce.