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SZIJJÁRTÓ: R&D INVESTMENTS SET TO BE IN FOCUS

The Hungarian economy is "practically on the brink of full employment", therefore "knowledge intensive" investment projects based on research and development will be in its focus in the future, the foreign minister said.
 

Péter Szijjártó spoke at a business forum organised by the American Chamber of Commerce (AmCham), and said that further economic growth “should be based on the current labour force”, an estimated five million people, therefore innovation, research and development will be promoted in future. Hungary received some 4.2 billion euros in foreign direct investment last year, utilised across 98 projects.
Szijjártó said the US was Hungary’s second largest investor after Germany. He said bilateral business ties with the US have been good and “if political relations also catch up” it would further improve economic cooperation. Hungary’s exports totalled 105 billion euros last year, the minister said.
Szijjártó noted the growing economic weight of the central European region within the EU and said it was “offensive to assume that the region merely draws benefits from the EU’s economy without contributing to Europe’s growth”. He also said that Germany’s trade volume with the Visegrad countries was around 70% higher than its trade volume with France.