“The number of jobs created in Hungary by German companies has exceeded 300 thousand”, Minister of Foreign Affairs and Trade Péter Szijjártó said in a statement to Hungarian news agency MTI on Tuesday in the recess of negotiations in Essen, Germany.

In the telephone interview, the Minister highlighted that cooperation between Hungary and German enterprises is based on mutual benefits in view of the fact that in Hungary’s attractive investment environment German companies can realise investments that reinforce their role within the global economy, while also increasing added value and the ratio of research & development in Hungarian workplaces. “Accordingly, the Hungarian economy is moving forward into an era dominated by services and research & development with significant help from German enterprises”, Mr. Szijjártó said, adding that we can count on further investment in Hungary on the part of major German companies.

The Minister held official negotiations in Essen and Stuttgart with the directors of major companies such as ThyssenKrupp, Bosch, Daimler and SAP. He told the press that “apparently fruitful negotiations are ongoing with relation to further investments in Hungary” with several partners, concerning which concrete information will soon be made public. “Is in in any case already good news that the number of people employed by German enterprises in Hungary has exceeded 300 thousand, meaning the growth of the Hungarian economy is being bolstered to a significant extent by Hungarian investments on the part of German companies”, Mr. Szijjártó said. He added that the Economy Protection Action Plan could also “inspire” further German investments in view of the fact that the measures being introduced by the Government will further decrease the tax burdens on work and reduce bureaucracy.

Mr. Szijjártó underlined the fact that there are “amazingly strong changes” going on in the world, and “it is no exaggeration at all to talk about the fact that we are moving forward into a new global economic era”. “And German companies play a major role in dictating the tempo of these changes, which is good news for Hungary because the German and Central European economies, including the German and Hungarian economies, have become fused together to a significant degree. For this reason, German enterprises can provide a major level of assistance to enable us to move the Hungarian economy forward into a new dimension”, the Minister of Foreign Affairs and Trade said. “The Hungarian and German economies are mutually dependent and mutually affect each other, as indicated by the fact that 30 percent of foreign investment in Hungary comes from Germany”, he added.