Hungary Attracts Record EUR 6.5 bln of Investments in 2022

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Hungary drew a record EUR 6.5 billion of investments in 2022, Minister of Foreign Affairs and Trade Péter Szijjártó said in a video message posted on Facebook on Wednesday, according to a report by state news wire MTI.

Around 48% of that investment volume came from countries in the East and 42% from countries in the West, Szijjártó said. Investments in the electric and hybrid vehicle sector accounted for 30% of the total and battery production for 43%, he added.

Hungary is the “European champion” in the changeover to electric mobility and has become a “meeting point” for German car makers and Asian battery makers, he said. Food industry investments accounted for 10% of the total and investments at shared service centers for 8%.

South Korea was the biggest foreign investor in Hungary in 2022, he said, adding that a more than EUR 7 bln battery plant China’s CATL has announced for Debrecen will be counted in next year’s investments. Investments by German companies created the most jobs.

Source: Budapest Business Journal

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