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SZIJJÁRTÓ ATTENDS S.E.G.A. HUNGARY PRODUCTION HALL INAUGURATION

 

Chinese-owned automotive industry company S.E.G.A. Hungary inaugurated a production hall in Szirmabesenyő, in north-eastern Hungary, and announced a new R+D project on Thursday, in a ceremony attended by Foreign Minister Péter Szijjártó. S.E.G.A. Hungary will make starters and generators at the base near Miskolc. In his address, Szijjártó said the state was supporting the 4.5 billion forint (EUR 12.4m) investment programme, which would create 40 jobs for engineers as well as preserve the company’s 1,426 workplaces, with a 1.3 billion forint grant. Szijjártó said that the government’s eastern opening strategy had “clearly proved a success”, making Hungary a primary target for Chinese investments in central Europe. He said that while in 2019 South Korea had been Hungary’s greatest investor, China took over in 2020 and “so far this year there has been a tie in the competition”. He said that “Hungary and the Hungarian people have profited and will profit considerably” from those relations, adding that China was Hungary’s 5th largest trading partner, the turnover of bilateral trade having increased by 21% in the first eight months of 2021.