Hungary FM: Three New U.S. Investments Worth 21.5 Billion HUF Headed to Hungary

Three additional American investments are coming to Hungary with a combined value of 21.5 billion forints, creating more than 200 new jobs that require a high level of expertise, Foreign Minister Peter Szijjarto announced Wednesday in New York.

Peter Szijjarto, Hungary's Foreign Affairs and Trade Minister, addresses the United Nations General Assembly (Photo: MTI)

According to a statement from Hungary's Ministry of Foreign Affairs and Trade, FM Szijjarto said Hungary–U.S. relations have entered an entirely new era since President Donald Trump took office in January. What had previously been a hostile relationship has been replaced by friendship and alliance, he emphasized.

He noted that during Prime Minister Viktor Orban’s recent talks in Washington, the two sides agreed on a new Hungarian–American economic cooperation action plan. One key element of that agreement is that this year will set a record for the value of U.S. investments flowing into Hungary.

Hungary's Foreign Minister Peter Szijjarto addresses the United Nations General Assembly
(Photo: MTI / Ministry of Foreign Affairs and Trade)

There has never before been a single year in which 190 billion forints’ (approx. €489 million) worth of American investment arrived in Hungary,

Szijjarto pointed out.

He then announced that final agreements would be signed later that day with the leaders of three U.S. companies on new investment projects.

These three investments together represent a value of 21.5 billion forints (over €55 million). The Hungarian government is contributing four billion forints (about €10.3 billion) in support, and more than 200 new, highly skilled, high value-added jobs will be created,

he said. Szijjarto explained that Becton Dickinson, one of the global leaders in the production of medical instruments and devices, will build a sterilization facility —unmatched anywhere  in Central Europe - next to its syringe plant in Kornye.

This shows that the Hungarian economy is not only growing, but changing in scale as well—we are moving into an entirely different dimension. Innovative, research-and-development-based investments are arriving that are unique across the entire region.

He also highlighted that Scrub Daddy, the U.S. company known for producing cleaning sponges and cleaning pastes, is building a plant in Martely, from which it will export its products to more than 40 countries worldwide.

Meanwhile, Formlabs is bringing a software development–focused investment to Budapest. The company specializes in 3D printing—one of the most significant technological advances in modern industry and manufacturing. Hungary will be a location of the software development work needed to push the size limits of 3D printers even further,

Szijjarto added. The foreign minister stressed that all three investments share a common feature: each is unique at the Central European level.

These are high value-added investments, and there was intense competition for all three—not only from regional rivals but also from competitors outside Europe. In each case, Hungary prevailed. That is attributable to Hungary having some of the lowest taxes in Europe, major structural reforms in higher and vocational education that ensure a reliable skilled workforce, as well as the political, physical, and economic stability Hungary currently offers to investors,

he concluded.

Cover photo: Peter Szijjarto, Hungary's Foreign Affairs and Trade Minister, addresses the United Nations General Assembly (Photo: MTI)