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SZIJJÁRTÓ: HUNGARY'S ECONOMIC DEVELOPMENT SCHEME IN SERBIA BENEFITS BOTH COUNTRIES

 

The Hungarian government’s economic development programme geared towards Vojvodina benefits both the Hungarian and Serbian economies, the foreign minister said in Bačka Topola (Topolya), in Serbia’s Vojvodina. Addressing the inauguration ceremony of Hungarian agribusiness KITE’s new logistics base in the town, Péter Szijjártó said political relations between Hungary and Serbia were “better than ever”, adding that this had made it possible for the government to support the investments of Hungarian companies in Serbia. In recent years, Hungary has maintained a growth rate that was at first close to, and eventually exceeded the European Union average, the minister said. This was what, he said, had allowed more and more Hungarian companies to invest abroad, improve their market positions and turn their profits to the development of the Hungarian economy.

Szijjártó said that in the future, companies that invest abroad would be key elements in the growth of Hungary’s economy. He noted that the Hungarian government recently adopted a strategy whose first phase includes a 10 billion forint (EUR 30.9m) allocation for supporting Hungarian companies that invest in Serbia.

Addressing the inauguration ceremony of the new base of feed producer Gebi, Szijjártó called the base a “Carpathian Basin success story”, saying that it demonstrated the strength of “the new central Europe” that he said had become the continent’s engine of growth. Szijjártó said Hungary over the years had gone from being “part of the problem to part of the solution” in the EU, adding that this had enabled the government to provide greater support to ethnic Hungarian communities than ever before. Hungary can guarantee that Hungarians living beyond the border can make a living in their homeland, the minister said. Over the past three years, the Hungarian government has supported 10,426 bids for economic development projects in Vojvodina with a total of 38.3 billion forints, which have generated 75.4 billion forints’ worth of investments, he added.