On December 6, Hungarian Minister of Foreign Affairs and Foreign Trade Szijjártó announced in his latest speech that Hungary's automobile industry has made remarkable achievements, with output value increasing by an astonishing 3.5 times in the past decade.
According to Minister Szijjártó, the booming Hungarian automobile industry is mainly due to the continuous investment of global automobile giants. These international automobile manufacturers have established production bases in Hungary, further promoting the upgrading and transformation of the country's automobile industry.
It is worth mentioning that 90% of the output value of Hungary's automobile industry is exported, which highlights the competitiveness of Hungarian automobile products in the international market. With excellent product quality and efficient production system, Hungary has been among the top 20 automobile exporters in the world for six consecutive years.
Minister Szijjártó said that as global automobile manufacturers continue to increase their investment in Hungary, Hungary's automobile production capacity will be further expanded. It is expected that in two years, Hungary will produce 1 million vehicles per year, becoming one of the top five automobile producers in Europe.
Industry experts believe that the rapid development of Hungary's automobile industry benefits from the following aspects:
Government policy support: The Hungarian government has provided a good investment environment and policy support for the automobile industry, attracting many international automobile giants to settle in.
Complete industrial chain: Hungary's automobile industry chain is constantly improving, and supporting facilities are complete, providing strong guarantees for automobile production.
High quality of labor: Hungary has a high-quality workforce, which provides talent support for the development of the automobile industry.
The successful development of Hungary's automobile industry has not only injected new vitality into the Hungarian economy, but also set a good example for the development of the global automobile industry. With the continuous emergence of new technologies such as electrification and intelligence, the Hungarian automobile industry will usher in new development opportunities.