Hungary FM: Auto Sector Interest in Hungary Has Risen Sharply in Recent Days

In recent days, interest in Hungary from the global automotive sector has increased significantly, as the country continues to offer a stable environment for the industry despite global uncertainty, Hungarian Foreign Minister Peter Szijjarto said in London, on Tuesday. Following talks with key representatives of the British auto industry, Mr. Szijjarto noted that, just like Hungary, the United Kingdom also plays a vital role in the European and global automotive sectors.

Peter Szijjarto, Minister of Foreign Affairs and Trade (Source: Peter Szijjarto / Facebook)

Hungarian Foreign Minister Peter Szijjarto traveled to London, where he met with representatives of the British automotive industry, among others. According to Mr. Szijjarto, Hungary's stability contributes to its ability to remain a key player in the sector.

FM Peter Szijjarto arrives in London for meetings with representatives of the British automotive industry
Source: Facebook / Peter Szijjarto 

FM Szijjarto: stability is a key factor in the automotive sector.

The minister pointed out that the industry is currently facing significant uncertainty, as it is still impossible to accurately assess the full impact of recently announced tariff measures—or how they may evolve in the future.

What is certain is that this global uncertainty in the automotive sector increases the importance of those countries and investment destinations that can offer stability.

– he emphasized. 

For the players in the global automotive industry, Hungary is synonymous with stability (…) And for this reason, even in the past few days, we’ve seen a noticeable uptick in interest in Hungary as a destination for investment,

– he added. Mr. Szijjarto went on to say that Hungary’s political and economic stability is exceptional within Europe.

In addition, the robust and large-scale presence of the auto industry — including the complete value chain and the presence of supplier companies — provides calm, safety, and stability to automotive players, which is exactly what is needed during this period of uncertainty

– he emphasized 

Automotive companies that have brought production, service operations, or research and development functions to Hungary have all benefitted from it. All of them consider their investments successful. So in this uncertain global environment, Hungary offers safety and stability for players in the automotive industry,

– he continued. 

That is why, in recent days, interest in Hungary as an investment destination has already increased noticeably. Our job now is to meet that interest—and to turn it as quickly as possible into expanded automotive capacity amid today’s uncertain global economic conditions,

– FM Szijjarto concluded. 

Cover photo: Peter Szijjarto, Minister of Foreign Affairs and Trade (Source: Peter Szijjarto / Facebook)