German supermarket chain Lidl’s new logistics hub in Ecser, near Budapest, has been completed as part of a 36 billion forint (EUR 100m) project that received government support of 1.2 billion, Foreign Minister Péter Szijjártó said on Friday, adding that the investment is creating 413 jobs.
While direct investments dropped by 42% globally amid the coronavirus pandemic, Hungary’s investment promotion system was a success story, Szijjártó told the opening event, with investments amounting to a record 1,886 billion forints last year. Hungary has moved closer to full employment, with more job-holders than ever before since post-communist transformation, he added. German companies are the largest investor community in Hungary, and trade between the two countries was record high in 2021, he said. “German-Hungarian economic cooperation has been a success story and we are writing an important new chapter now,” he added. Lidl opened its first Hungarian unit in 2004 and currently has nearly 200 outlets and four logistics hubs around the country.
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