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FM: Hungarian Economy Can Count On The Automotive Industry

2021. március 03.

About Hungary

The foreign minister said the automotive industry was the backbone of the Hungarian economy even before the coronavirus pandemic and thanks to developments and investments, it can still rely on it. 

Péter Szijjártó, Minister of Foreign Affairs and Trade, today announced that the government will provide HUF 274 million to German towbar manufacturer ACPS Automotive Kft to support their development worth approximately HUF 832 million.

The foreign minister said that with the investment, the company will save nearly a thousand jobs while further increasing its production capacity. He added that while foreign investment fell by 42 percent globally, growth in this regard was 140 percent in Hungary.

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Photo credit: Facebook/Szijjártó Péter