Speaking at a session of the German-Hungarian Chamber of Industry and Commerce (DUIHK), which marks the 25th anniversary of the organization in Hungary, Minister for National Economy Mihály Varga noted that DUIHK and its members were contributing to the country’s economic growth in each and every field and they were also actively working in professional projects aiming to shape economic policies.


Among the achievements resulting from joint efforts the Minister mentioned the signing of the agreement on vocational education cooperation, the joint evaluation of the Chamber’s annual economic confidence report, professional consultations with DUIHK working groups, partnership in the Competitiveness Council and the presentation of vocational education awards.

Hungary’s economic data of last year showed good performance in almost every sector. In the period Q1-Q3, GDP grew by 3.8 percent year-on-year, and the pace of growth is also expected to be some 4 percent next year, Mihály Varga noted. German enterprises, which steadily expanded production capacity last year, brought new R&D activities and FDI to Hungary, have been instrumental for reaching these results, the Minister pointed out.


According to data compiled by the Hungarian Central Statistical Office (KSH), 3246 German companies employed 187 400 people in Hungary, and thus Germany is still the number one foreign employer, and the foreign country with the highest number of Hungarian subsidiaries, the Minister added.

Measures introduced in vocational education are also signalling progress. The implementation of the dual vocational education system, designed on the basis of the German model -- which has been gaining ground also in tertiary education --, has clearly been a success story.


In light of the latest DUIHK survey conducted in autumn last year, which showed that the economic situation was perceived as great in the country, German enterprises also think that Hungary’s economic outlook remained promising, Mihály Varga said.

(Ministry for National Economy)