New Deals Struck with Swiss Companies

Minister of Foreign Affairs and Trade Péter Szijjártó signed investment agreements worth HUF 14 billion in Switzerland earlier this week, the state news agency MTI reported.

He said the Hungarian delegation reach agreements with three Swiss companies to partly expand their activities in Hungary and partly to enter the Hungarian market as new investors, creating 220 new jobs in Hungary.

These investments will take place in three different industries and in three different cities: there will be an expansion in the production of railway carriages in Szolnok and toothpaste tubes in Debrecen, and a completely new investment in the production of ceramic implants for dentistry in Székesfehérvár.

The minister was of the view that all these investments demonstrate that the Hungarian economy has a strong growth potential in the post-viral recovery period and that Hungary can indeed be a winner in the new global economic era. He also said that Switzerland is an important political and economic ally of Hungary.

He was of the opinion that with Brexit, European Union lost an important member state at the beginning of last year. The loss of the British must be compensated for in some way, and enlargement towards the Western Balkans and close cooperation with Switzerland represent a serious and great opportunity to do so, he said. He added that Britain's exit would increase the importance, and indeed the growing importance, of partnership and cooperation with various non-EU countries.

Therefore, the Hungarian government urges the EU to strengthen its cooperation with Switzerland and calls on the European Commission to conclude an institutional framework agreement with the country as soon as possible. The EU could clearly benefit from even closer cooperation with an economically strong country like Switzerland, the minister said.

Swiss investors play a very important role in the functioning of the Hungarian economy. Almost 900 Swiss-owned companies operate in this country, providing jobs for 33,000 people. Fortunately, Swiss companies are constantly investing or developing in Hungary, the minister added.