One of the key strategic goals of the Government is to turn Hungary into an R&D hub within Europe, and to this end special attention will be paid to supporting FDI, Minister for National Economy Mihály Varga said at the presentation ceremony for the “Award for Successful Enterprises” held in the building of the Ministry for National Economy in Budapest.
The Minister stressed that in light of every main economic indicator Hungary has been performing better, economic growth has been gathering pace, the general government deficit is lower than formerly anticipated and state debt could also be reduced.
He added that it is not only the opinion of the Government; this view is shared by the European Commission, analysts and last but not least those enterprises which have been expanding their production capacities and continue to invest in Hungary.
Through the “Award for Successful Enterprises” the Government acknowledges valuable work as well as trust and commitment in Hungary.
Mihály Varga emphasised that the leaders of successful enterprises active in Hungary are aware of the Government measures introduces in order to establish the conditions required for macroeconomic stability. He pointed out that the Government has also visibly restored investor confidence which in turn may attract new investors to Hungary.
Mihály Varga noted that according to the German Chamber of Commerce in Hungary, eight out of ten German companies would again pick Hungary as their investment project destination.
Speaking about one of the award winners, Japan’s Takata Corporation, the Minister pointed out that the company is currently implementing an investment project valued at more than HUF 20bn in Miskolc, and the construction of the new site is the most significant investment since the Mercedes plant was completed in Kecskemét.
He stressed that at the new site production is expected to be started as early as this autumn, and the facility – after reaching full capacity -- will provide work of one thousand people from the Miskolc region.
The second awardee, Rati Kft, is a supplier of large car industry enterprises.
As Mihály Varga noted, the share of the vehicle manufacturing sector of Hungarian exports constituted 18 percent in 2013, and the industry’s export revenues totalled some EUR 17bn. The 717 companies which are active in this field provide the livelihood of 115 thousand Hungarian families. The number of cars made in Hungary is expected to reach 500 thousand in 2014, and fifteen out of the top twenty global car industry suppliers have a subsidiary in Hungary.
The Minister stressed that by presenting these awards the Government aims to draw attention to Hungarian success stories and successful enterprises. He added that these distinctions show that the Hungarian economy is capable of renewal, innovation and development which can generate more jobs and profit.
In March, based on the jury’s decision, Takata COO Stefan Stocker representing Takata Safety Systems Hungary Ltd received the “Investor of the Month” award; CEO Attila Rajnai of Rati Ltd was awarded the “SME of the Month” title, while in the category of “Start-up of the Month” Mihály Varga presented the award to Andrea Varga-Darabos of Manna Natúr Kozmetikum Ltd.
Takata is a world-leading manufacturer of safety belts, air bags, steering wheels and children’s car seats. In November 2013, Takata Corp established a Hungarian subsidiary under the name of Takata Safety Systems Hungary Ltd and the laying of the foundation stone on 12 March marked the start of their Miskolc production site.
Rati Ltd was founded in 1986 as the manufacturer and wholesaler of plastic car accessories. The company became a supplier of Suzuki in 1998, but since 2006 the enterprise has also been producing self-designed components.
Manna Ltd has been the producer and wholesaler of cosmetics made from 100 percent natural ingredients since June 2010.
(Ministry for National Economy)
