A Hungarian-Serbian construction company is investing around 10 billion forints (25.5 million euros) in the establishment of a reinforced concrete manufacturing plant in Dunavecse (southern Hungary), announced Péter Szijjártó, Minister of Foreign Affairs and Trade, on Friday.
The minister attended the groundbreaking ceremony of MZ Precast Kft., where he announced that the government is providing 2.4 billion forints (6 million euros) in support, thus helping to create sixty-five new jobs in the first phase.
He emphasized that
the most modern production management system and the most efficient architectural solutions available will be used, and the facility will operate almost exclusively on solar energy, which will contribute to Hungary’s environmental goals.
He also pointed out that unemployment in Bács-Kiskun County has halved over the past ten years, while industrial production has more than doubled.
Minister Szijjártó described the last fifteen years as a period of reindustrialization in Hungary, during which the foundations of a strong economy were laid and Europe’s most investment-friendly environment was created, including the lowest taxes on the continent.
Continuous investment records have led to Hungary becoming a European manufacturing hub. But as the world is undergoing tremendous changes today, (…) we must constantly take measures to ensure that it is always most profitable to invest in Hungary,”
he stressed.
The minister revealed that this was why they had decided to take advantage of the opportunity created by the European Commission’s decision that investments of up to 350 million euros made in the interests of environmentally friendly economic growth do not require Brussels’ approval for investment support.
In addition, he emphasized that the government has made it easier to support research and development investments by making a wider range of Hungarian companies eligible, and they are also continuing to reduce the corporate tax burden.
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Via MTI, Featured image: MTI/Vasvári Tamás
The post Solar-Powered Factory to Open with HUF 10 Billion Investment appeared first on Hungary Today.
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