Intretech Hungary Kft., an electronics company, is expanding its production capacity in Kapuvár (northwestern Hungary) by approximately HUF 25 billion, which will create 330 new jobs, Minister of Foreign Affairs and Trade Péter Szijjártó announced on Thursday in the city.
The minister stated at the announcement of Intretech Hungary Kft.’s recent investment that the Chinese-owned electronics company is expanding its production capacity by HUF 25 billion (EUR 64 million; EUR 1 = HUF 391), with the government providing HUF 2.6 billion in support, thus helping to create 330 new jobs.
“This factory will be a key element of the company’s long-term European growth strategy, and it will be used for high value-added manufacturing activities, enabling the company to continue to serve its international customers, with Renault, Procter & Gamble, Stellantis, and Nestlé all receiving the products they order from Intretech from here,” he emphasized.
Péter Szijjártó then explained that despite the serious crises of recent years, the Hungarian economy has been capable of remarkable achievements, in which Chinese companies investing in Hungary have played a key role.
Chinese companies always bring the most modern technology to Hungary and create and maintain reliable and secure jobs. We always win these Chinese investments in huge international competitions,”
he emphasized.
He then praised the strategy of economic neutrality, welcoming cooperation between Eastern and Western companies.
“We believe this is natural, there is no danger in it, but there are a lot of opportunities. And the investment records of recent years here in Hungary have been possible because we consider East-West economic cooperation to be good news and have made Hungary the European meeting point of Eastern and Western economies,” he said.
He also pointed out that Hungary has become the number one European destination for Chinese investments, and this is precisely why many Western investments have also been made here, as they can operate freely together.
Finally, the minister touched on the series of crises of the past decade and a half and welcomed the fact that Hungary has been able to achieve significant successes during this time.
“These difficult years have brought us a million more jobs. These years have brought us the lowest taxes in Europe. These years have brought us utility price cuts, a 13th and then a 14th month’s pension, and family tax breaks that have been watched with jaws dropped around the world,” he listed.
At the same time, it must be recognized that such uncertain international circumstances always jeopardize and endanger these achievements, which have been achieved through great joint efforts,”
he continued.
“Therefore, the primary goal of Hungary’s sovereign government must always be to keep Hungary out of all wars, whether they involve armed conflict or the creation of incredible uncertainty in the international energy market. Our goal is to ensure that we do not lose the achievements we have made together in recent years in any war,” he concluded.
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Chinese Electronics Company Intretech Creates 330 New Jobs in Kapuvár
Péter Szijjártó pointed out that Hungary has become the number one European destination for Chinese investments.Continue reading
Via MTI; Featured image: MTI/Krizsán Csaba
The post Chinese Electronics Company Intretech Creates 330 New Jobs in Kapuvár appeared first on Hungary Today.
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