Government Secures Expansion Pledges From French Business Giants
19 hours ago
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Christophe Périllat (L), CEO of Valeo automotive supplier and technology company and Jean-Luc di Paola-Galloni, Valeo’s Vice President for Sustainability and External Affairs. (Photo: MTI/KKM)
Minister of Foreign Affairs and Trade Péter Szijjártó held talks with executives from major French corporations in Paris on Thursday, who reaffirmed their commitment to expanding their operations in Hungary.
According to a statement from the Ministry of Foreign Affairs and Trade, Minister Szijjártó shared on Facebook that French companies now represent the fifth-largest investor community in Hungary, employing tens of thousands of people across the country.
Madeleine Roach, representing Sanofi (L); Radia El Kardi Sanofi’s business operations leader (R) and Péter Szijjártó in Paris. (Photo: MTI/KKM)
He noted that over the past decade, the
Hungarian government has supported 40 major French investment projects, leading to more than HUF 400 billion (cc. USD 1.1 billion) in total investment.
FM Szijjártó emphasized that French companies are particularly active in Hungary’s two strongest industrial sectors—automotive and pharmaceuticals—and that most of the French firms with whom the government has signed strategic partnership agreements operate within these fields.
During his visit, the minister met leaders of Valeo, a key supplier to Hungary’s automotive industry and a major player in Europe’s technology revolution regarding cars. He also held talks with the CEO of Sanofi, that is considered one of the world’s most innovative pharmaceutical companies.
Together, these two companies employ over 6,000 people in Hungary, and in today’s meetings, they made it clear that they remain committed to expanding their presence here. (…)
This is excellent news for our economy and highlights the continued importance of French companies in contributing to Hungary’s economic performance,” wrote FM Szijjártó.
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