Foreign Minister Péter Szijjártó
Flextronics is expanding its capacity in Zalaegerszeg (western Hungary) with an investment of approximately 35.5 billion forints (91.26 million euros; 1 euros = 389 forints), creating 210 new jobs—marking the fourth U.S. investment in Hungary within a week, Minister of Foreign Affairs and Trade Péter Szijjártó announced on Monday at the site.
The minister stated at the groundbreaking ceremony for Flextronics’ new warehouse that the American electronics company’s capacity expansion investment is worth 35.5 billion forints, for which the government is providing 8 billion forints in support, thereby helping to create 210 new jobs.
Péter Szijjártó speaks at a press conference at the ZalaZone event center during the announcement of Flextronics’ investment, where the company revealed a HUF 35.5 billion capacity expansion supported by government funding, expected to create 210 new jobs. Photo: MTI/Katona Tibor
In his speech, he emphasized that the investment by the company—which manufactures parts for even the largest automakers—has significance beyond itself, as it supports the development of domestic small and medium-sized enterprises, while the dual training partnership with the Budapest University of Technology and Economics contributes to strengthening the competitiveness of Hungarian higher education.
He also emphasized that this project demonstrates that a new golden age has dawned in Hungarian-American cooperation, built on the friendship between the leaders of the two countries, which is rooted in loyalty.
“And this new golden age brought a record-breaking year for Hungarian-American relations last year.
In fact, last year saw a record-breaking increase in Hungarian-American trade, which exceeded ten billion dollars, and a record-breaking increase in American investments in Hungary over the course of a single year, 200 billion forints, across a total of 16 investments,”
he noted.
“The third-largest source of investment in Hungary comes from the United States. And the momentum shows no signs of slowing down. Following Pétfürdő (western Hungary), Komárom (northern Hungary), and Oroszlány (northwestern Hungary), Zalaegerszeg is the fourth Hungarian town or city where we are announcing an investment by an American company within a single week,” he added.
Péter Szijjártó also noted that Zala County’s industrial output has grown by 30 percent over the past ten years, reaching a value of nearly 900 billion forints annually, while unemployment has fallen by half. This is partly due to the fact that 31 state-supported investment projects have been implemented here during this period, totaling 130 billion forints, which has secured roughly 7,200 jobs.
Via MTI; Featured photo: MTI/Katona Tibor
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