“Hungary is the world’s eighth most attractive investment destination according to the list published by America’s Site Selection magazine”, Minister of Foreign Affairs and Trade Péter Szijjártó told reporters in Budapest on Thursday.

“Hungary has a small, open economy, and in order to maintain the dynamic of job creation it must take part in a ‘cutthroat international battle’ for investments, to convince enterprises that it is worth bringing their investments to Hungary”, the Minister highlighted.

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“The list published by the most authentic investment consultancy magazine for enterprises searching for investment locations is extremely important, since this list is an important factor in decisions concerning new investments”, Mr. Szijjártó explained. “The first ten places include countries like Germany, Great Britain and China”, he said.

“Hungary’s economic policy is based on continuously increasing the rate of economic growth through work and job creation. It is the performance derived from labour that provides the foundations for the long-term sustainability of economic growth, meaning the more people are working, the better the economy will perform”, he explained, adding: “This will continue to be at the focal point of the Government’s economic policy”.

“Since 2014, the HIPA investment promotion agency has brought 294 major new investments to Hungary with a total value of ten billion euros, facilitating the creation of 58 thousand new workplaces”, the Minister pointed out. “In turn, the companies that invest here provide further opportunities for Hungarian small and medium-sized enterprises that act as suppliers”, he added.

DownloadPhoto: Ministry of Foreign Affairs and Trade

“The American investment magazine has also published a list of investment promotion agencies with the involvement of international investment consultants, experts and journalists, and the HIPA was chosen as the best investment promotion agency in Central and Eastern Europe”, Mr. Szijjártó told the press. “Over the past four years the HIPA has broken its previous investment record in every single year, and while in 2009 only 27 new investments were made in Hungary, by last year 96 new investments were brokered by the HIPA”, the Minister of Foreign Affairs and Trade pointed out.