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Pharmaceutical machinery manufacturer Harro Höfliger has established its second-largest site outside of Germany in Debrecen (eastern Hungary). The investment of HUF 6 billion will create 100 new jobs in the city, Foreign and Trade Minister Péter Szijjártó announced on Friday during a visit to the site.
At the inauguration ceremony for the Harro Höfliger hall, the Minister explained that the German engineering company had carried out a capacity expansion worth HUF 6 billion (EUR 15.67 million, 1 EUR = 382 HUF), for which the state provided a subsidy of HUF 1.5 billion, creating more than 100 new jobs. In his speech, he emphasized that the company is bringing its high-tech mechanical engineering activities for the pharmaceutical industry to Hungary and that
this plant will be the second-largest location outside Germany.”
“Harro Höfliger’s expertise and high technological level contribute to the flawless manufacture of sensitive and critically important medical devices such as inhalers, insulin pens, and patches,” explained Péter Szijjártó. He added that the company would launch a major supplier development program, from which local small and medium-sized enterprises could also benefit. He also announced that the company would work closely with the University of Debrecen and the Debrecen Vocational Training Center to train young people.
Photo: MTI/Derencsényi István
The Minister emphasized that a completely new economic era had begun in Hungary a decade and a half ago when the government began reindustrializing the country, thereby creating an extremely stable foundation for the economy.
With the lowest taxes in Europe, we have created the most successful and attractive investment environment in Europe and broken the record for investment in Hungary year after year,”
he explained. “We reorganized higher education and vocational training, learned from the best, and introduced dual training programs based on the German model. Thanks to these measures, we were able to keep up as more and more companies came to Hungary, built more and more factories, and needed more and more employees,” the Minister continued. “Over the past decade and a half, a million new jobs have been created, doubling the country’s industrial capacity during this period, which is a major achievement, given that almost everything that has happened in the world over the past decade and a half has worked against good economic and industrial performance,” he added. “The fact that industrial production has doubled in fifteen years has led to the average wage tripling and the minimum wage quadrupling,” he emphasized.
Photo: MTI/Derencsényi István
Szijjártó also noted that the strength of the Hungarian economy is also evident in the healthy balance that has been established between domestic and foreign companies. “Almost all foreign companies bring the latest technology to Hungary, have created tens of thousands of new jobs, and also enable Hungarian companies to enter modern global value chains,” he explained. The Minister also pointed out that Germany remains Hungary’s most important economic, trade, and investment partner. According to his information, bilateral trade has now reached a volume of 70 billion euros per year, and
the value of German investments amounts to 37 billion euros,
which has been significantly helped by the fact that the government has supported 324 large German corporate investments totaling HUF 400 billion over the past ten years, thereby promoting investments worth HUF 3,800 billion.
FM Péter Szijjártó. Photo: MTI/Derencsényi István
The Minister concluded by pointing out that this investment also underscores the diversity of Debrecen’s economy, which is not limited to the automotive industry or electronics, but also includes, among other things, mechanical engineering in connection with the modern pharmaceutical industry. Szijjártó made it clear that there used to be a great imbalance and differences in development between the east and west of the country, but that these have now been successfully eliminated, making Debrecen an important regional industrial center. “Over the past eleven years, the government has supported 131 major investments in Hajdú-Bihar County with more than HUF 600 billion, resulting in investments of HUF 4,000 billion. The county’s industrial production has increased two and a half times in ten years, while unemployment has fallen by more than half,” he summarized.
Via MTI; Featured photo: MTI/Derencsényi István
The post Harro Höfliger Establishes Its Second-Largest Overseas Site in Debrecen appeared first on Hungary Today.
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