Managing Director Imre Zsolt Vidó, Minister of Foreign Affairs and Trade Péter Szijjártó, and Minister of Agriculture István Nagy (from left to right) at the project completion ceremony for SICK Kft.
In a period of global economic uncertainty, Hungary is consolidating its role as a strategic hub for major international investments. On Friday, Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó announced two significant projects. While the long-established German company SICK Kft. is massively expanding its capacities, the Indian Motherson Group is following suit with a broad-based investment offensive in the automotive sector.
During the day, the minister attended the project completion ceremony for SICK Kft. in Kunsziget (Győr-Moson-Sopron County). The company, which is known worldwide for its intelligent optical sensors, invested 10 billion forints (16 million euros) in the site. Thanks to a government subsidy of 1.6 billion forints (4 million euros), a new production hall and a modern warehouse were built.
The expansion will create 300 new jobs in the community of 1,500 residents.
A total of over 1,000 people will soon be employed there to produce high-tech products for the global market – from sensors for cruise ships to systems for autonomous tractors.
Alongside German investors, India is also consolidating its presence in the Hungarian market for direct investment.
The Motherson Group, one of the 15 largest automotive suppliers worldwide, announced an investment package worth 39 billion forints (102 million euros).
The project covers the locations Mosonszolnok, Mosonmagyaróvár, Túrkeve, and Kecskemét. The Indian investment will focus on increasing capacity for rearview mirrors and bumpers for premium partners such as BMW and Mercedes-Benz, establishing AI-based sensor technologies and visual systems, and setting up a service center in Hungary to manage IT and finance for the entire Eastern European region.
The Hungarian government is supporting this expansion with 9 billion forints (23.5 million euros), which will create 154 new jobs, many of them in the highly skilled engineering sector, Péter Szijjártó announced at the announcement.
The minister emphasized that the success of these projects – especially in competition with other nations – is based on the stability and predictability of Hungary as a location. Currently, 45 Indian companies are operating in the country, employing around 9,000 people.
Despite all the crises, the past four years have been the most successful in Hungarian economic history,
he recalled.
The combination of German precision engineering and Indian innovation in the automotive sector underscores that Hungary continues to be the “backbone” of European industry.
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Via MTI; Featured image: MTI/Filep István
The post India Joins Germany in Newly Announced Investment Projects appeared first on Hungary Today.
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