According to the ministry announcement, Péter Szijjártó is DS Smith Packaging Hungary Kft. when the investment was announced, they announced that the British packaging manufacturing company is expanding its capacities in Hungary by more than 40 percent, in three locations, i.e. in Füzesabony, Nagykátá and Győr, value developments will be around has made HUF 12.7 billion.
Source: Facebook/Péter Szijjártó
He explained that our country regretted that the United Kingdom withdrew from the European Union, but regardless, it is fighting for the closest economic cooperation with the island nation.
He emphasized that
British companies still make up the seventh largest investment community in Hungary, employing around fifty thousand people,
and last year the bilateral trade reached a new high of 6.5 billion euros, and this year they registered an increase of almost three percent.
He also mentioned that over the last ten years, the state supported the investments of forty-two packaging industry companies, the total value of which was HUF 164 billion.
In his speech, Péter Szijjártó also spoke about the war in Ukraine, stressing that it is placing great burdens on the European and Hungarian economies.
We all know that growth requires peace, calm, stability and predictability (…) That is why we are waiting with bated breath for the next two months to pass as quickly as possible, (… ) And we are waiting for peace to come back in again. the second half of January next year here, to Central Europe
he said.
He warned that states that are deeply integrated into the global economy are particularly sensitive to factors that hinder growth, and Hungary can certainly be classified as one of them, since – trade accounts for about 75-85 percent of GDP.
“However, if the perspectives of growth of the world economy open up, and peace would be able to open those perspectives, the Hungarian economy could also have a good time,” he said.
Therefore, he said it was important to protect jobs and create new jobs even in the midst of the current difficult circumstances.
And in this regard, he welcomed the signing of the salary agreement for the next three years, which will ensure stability and predictability for players in the economy.
“By creating the right environment with government, we can contribute to such an agreement, for example by maintaining a competitive tax system that does not punish but supports work, which does not punish but supports those who work more, and those who don’t. punishing but supporting the one who hires more people,” he said.
**Given the current geopolitical uncertainties, what specific sector-targeted policies could the Hungarian government implement to ensure DS Smith’s investment in Hungary remains successful and attractive to other potential foreign investors?**
## World Today News Interview: Investment, Economy and the Hope for Peace
**Introduction:**
Welcome to World Today News! We are discussing the recent investment announcement by DS Smith Packaging Hungary Kft. and its implications for the Hungarian economy. Joining us today are:
* **Dr. Katalin Nagy:** Economist and Associate Professor specializing in international trade and investment.
* **István Bakos:** Representative of the Hungarian Chamber of Commerce focused on manufacturing and industry development.
**Section 1: DS Smith Investment & Hungarys’s Economic Outlook**
* **[To Dr. Nagy]:** DS Smith’s investment in Hungary, amounting to HUF 12.7 billion, is a significant boost to the packaging industry. What does this signal about Hungary’s attractiveness to foreign investors, especially amidst global economic headwinds?
* ** [To Mr. Bakos]:** How does this investment from a major British company fit into the broader landscape of UK-Hungary relations after Brexit? What opportunities and challenges does this partnership present?
**Section 2: The Impact of Global Turbulence**
* **[To both guests]:** Foreign Minister Szijjártó highlights the war in Ukraine and its impact on the Hungarian economy. How acutely are Hungarian businesses, particularly in the manufacturing sector, feeling the effects of this geopolitical instability?
* **[To Dr. Nagy]:** Minister Szijjártó emphasizes the need for peace and stability for economic growth. What specific measures can Hungary and the EU take to mitigate the economic fallout from the conflict in Ukraine and foster a more stable economic environment?
**Section 3: Stability and Future Growth**
* **[To Mr. Bakos]:** The Minister mentions the importance of protecting jobs and creating new ones. What role can government policies and initiatives play in supporting Hungarian businesses and employees during these challenging times?
* **[To both guests]:** Minister Szijjártó stresses the importance of a competitive tax system and policies that incentivize work and investment. Do you agree with this approach? What other measures could be considered to ensure Hungary’s continued economic growth and competitiveness in the long term?
**Closing:**
Thank you to Dr. Nagy and Mr. Bakos for sharing their insightful perspectives. This discussion highlights the complex interplay of global events, investment decisions, and domestic policies in shaping Hungary’s economic future. The road ahead may be challenging, but there are clear opportunities for growth and prosperity if the right steps are taken.
We will continue to follow this story and provide updates on its development.
