Business
Korber allocates 14.7 million euros for investment in Hungary
Peter Szijjarto, the Minister of Foreign Affairs and Trade, presided over the inauguration of a 5.6 billion forint (EUR 14.7 million) investment by German-owned Korber Hungaria in Pecs, located in southern Hungary. Szijjarto emphasized that the ongoing development of bilateral relations between Hungary and Germany is contingent upon a practical foundation
.
This investment will enhance the capacity and efficiency of the German-owned food and tobacco manufacturer, with the Hungarian government providing an 850 million forint grant to support the project.
Szijjarto also highlighted that this plant in Pecs ranks as the second largest among over 25 Korber facilities across four continents.
Bilateral trade between Hungary and Germany, which Szijjarto described as Hungary's "number-one economic ally," reached a record of 67 billion euros last year and is anticipated to reach 70 billion euros this year.
Germany holds the second-largest position in terms of investment in Hungary, following China in 2023. This success is attributed to German executives' decisions based on experience rather than media coverage. Szijjarto underscored that as long as economic cooperation between Hungary and Germany remains grounded in reality, it will continue to prosper, as exemplified here in Pécs.
It is worth noting that Hungary proudly stands as the top destination for Chinese investments in the Central and Eastern European region. Additionally, Hungary has recently achieved new records in investments and exports, reflecting the country's strong economic performance.
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