Hungarian firms growing into regional leaders, says FM Szijjártó

Bayer Construct CEO Attlia Balázs and Minister of Foreign Affairs and Trade Péter Szijjártó. (MTI/Róbert Hegedüs)
By Dénes Albert
2 Min Read

As a result of the economic development strategy of the past 14 years based on national interests, several domestic companies have now become regional leaders in various key industries, Minister of Foreign Affairs and Trade Péter Szijjártó said in Budapest on Monday.

At the announcement of a new investment by Bayer Construct Zrt., the minister said that the construction company will build a HUF 15 billion (€38 million) factory in Sóskút, where a bathroom assembly plant will operate. The project will be supported by the state with HUF 6.6 billion (€16.7 million), helping to create 100 new jobs.

He also pointed out that the newly announced investment will significantly contribute to the further strengthening of the construction industry, which is one of the main backbones of the Hungarian economy; the sector provides jobs for nearly 400,000 people and last year had a production value of €18.7 billion.

He went on to say that investment is critical to the performance of the Hungarian economy, so the government seeks to make Hungary the most attractive investment environment in Europe. According to Szijjártó, this also means that the government regularly concludes strategic cooperation agreements with companies that contribute to economic growth through their investments and activities, as was the case with Bayer Construct Zrt.

After the signing of the agreement, Szijjártó said that these partner companies undertake, among other things, to provide continuous training for their employees, cooperate closely with vocational training and higher education institutions, and work with Hungarian suppliers as much as possible.

“Today we signed the 95th strategic partnership agreement, this time with a Hungarian company, one of the leading players in the construction and property development sector in Central Europe,” Szijjártó said.

Bayer Construct now employs more than 1,500 people in Hungary. The company covers a wide range of construction activities, from real estate development, design, production and construction to sales and operations.

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