For the Hungarian economy to achieve sustainable growth, we must provide the cheapest possible energy and environmental protection and industrial production should be kept in balance – State Secretary for Foreign Affairs and External Economic Relations Péter Szijjártó said today in Dunaújváros before signing the strategic partnership agreement between the Hungarian Government and Austrian waste management company Prinzhorn Holding.

Mr. Szijjártó said that besides economic growth, the environment has to be preserved and natural resources should not be exploited without planning. He reminded the audience that this was the first time that the Hungarian Government was signing a partnership agreement with an environment industry firm, which is the most significant paper industry company in Hungary and produces its products from waste.

DownloadThe State Secretary added that Prinzhorn Holding, besides being one of the biggest firms in this sector in Central and Eastern Europe, contributes significantly to Hungarian employment figures with its 1100 strong workforce. The company and the Hungarian Government is working towards the same goal, as a more efficient waste collection system and reducing energy prices are in the interests of everybody, he added.

Mr. Szijjártó highlighted the fact that Austria is currently Hungary's second most important trade partner – 6% of Hungary’s foreign trade, totalling € 11.6bn, was conducted with Austria. Also, Austrian companies are the fourth largest investors in the country.

DownloadPéter Szijjártó said Hungary looked upon the economic crisis as an opportunity – with the necessary changes it can be stronger than ever. The biggest changes have already been concluded: the tax system has been completely revised to help those who appreciate work, those who want to work more and those who want to employ more people. To achieve the country’s strategic goals, we need strategic partners – he added. Due to the strategic partnership agreements concluded so far, the big international companies involved have invested 650bn forints (€ 2.1 bn) in Hungary and created 5,500 new jobs.

DownloadPrinzhorn Holding, with its headquarters in Wiener Neudorf, Austria, is a family-managed company present in 13 countries with 37 plants and employing 4478 people. They have been in Hungary since 1990, collecting waste and recycling it into paper. Since the purchase of the paper mill in Dunaújváros in 1990, they have performed investments totalling € 600 million, employed 1,100 people and achieved HUF 110 bn (€ 360 million) in annual revenues.

The Government has signed strategic partnership agreements with 41 firms so far.

(Prime Minister’s Office)