Avatar

9,000 new jobs will be created in Debrecen



Reading time: 2 minutes

Following an investment of 3000 billion forints (7.5 billion euros) by the Chinese company Contemporary Amperex Technology Co. Limited (CATL), which represents the largest investment ever made in Hungary, 9000 new jobs will be created in Debrecen, announced the Hungarian Minister of Foreign Affairs and Foreign Trade, Péter Szijjártó.

At an event held in Debrecen, the head of Hungarian diplomacy called the signed sale-purchase agreement for the land on which the investment will be made a milestone, saying that this is the first legally binding agreement of the project, according to Hirado .huh.

The minister reported that the largest battery producer in the world chose Hungary to build its second European factory after two and a half years of negotiations, in a context where international competition is huge. The value of the investment represents a huge amount not only at the Hungarian level, but also at the European level, being one of the five largest ecological investments in Europe, in the last ten years.

“Following this investment, after China and Germany, Hungary will be the third country in the world to have a CATL factory”, said Szijjártó. The minister added, then, that the project will also receive support from the state, the details of which will be made public later, after the completion of the notification process to the European Commission.

Péter Szijjártó also pointed out that, apart from Germany and China, Hungary is the only country where all three big German premium car brands – Audi, BMW and Mercedes – have production bases, which means that in their strategy of electromobility, Hungary is assigned an important role, so the construction planned to take place by 2025 must be accelerated, because the demand for batteries is very high.

According to Péter Szijjártó, the fact that the largest investments ever made were announced in these two “black years” of the world economy, last year and this year, “is a clear proof” of the performance of Hungary’s economic policy.

The minister said that this shows that neither the war nor the pandemic could destroy the two fundamental processes taking place in the world economy, the automobile revolution and the increasingly radical global rise of eastern companies. “We realized these two processes and reacted correctly to both”, explained Szijjártó.

The head of Hungarian diplomacy recalled that since 2010, the performance of the Hungarian car industry has increased 2.5 times, and in 2021, the value of its production will approach 9,500 billion forints (23.75 billion euros).

According to the foreign minister, despite the criticism, Hungary’s opening to the east turned out to be a success. “We have clearly stated that we are not willing to ban the companies of any nation, for unjustified reasons. All of our foreign policy as a whole, so also regarding the world to the east of us, is based on mutual respect”, specified Péter Szijjártó.