HIPA-Gala 2024:
The 10th anniversary of the investment promotion agency HIPA brought a year of records. Maximum values were achieved both in terms of investment volume and the creation of new jobs.
At the gala, István Joó, CEO of HIPA, explained that in 2023 foreign investments (FDI) in Hungary reached 13 billion euros. Never before have so many investments flowed into the country; and this in a year in which the global capital flow slowed and in some cases even completely stagnated.
Now the focus is on the south of the country
Joó spoke regarding the country’s strong and stable economic relations with traditional Western partners. In addition, Hungary is a connecting point between Western and Eastern technologies, and economic partnerships are also being established with Eastern states. The most important task of HIPA this year is to repeat in the southern part of the country the achievements that have been achieved over the last 13 years in Eastern Hungary, especially in Debrecen, Nyíregyháza and Miskolc.
This year HIPA is celebrating its 10th anniversary. During this time, the agency has managed well over 2,100 projects with a total value of 49 billion euros. Last year, the investment record of 13 billion euros was paired with an unprecedented high of 19,700 newly promised jobs. Asian players were particularly involved in these records, accounting for 82% of direct investments and two thirds of the newly created jobs. With a volume of over 7.6 billion euros, China was the leader in terms of the origin of investors.
Strategic investor from the Far East
At the gala for the “Investors of the Year 2024”, outstanding economic achievements were honored in a total of nine categories. The prize for the largest strategic investment of the year went to BYD, a pioneer in the production of electric and plug-in hybrid vehicles from China. The “new investor” of the year was Benepack Hungary, the Hungarian subsidiary of the Chinese packaging manufacturer CPMC.
LEGO Manufacturing was named Reinvestor of the Year, while Magyar Suzuki was honored with the “Lifetime Achievement Award” for investors for long-term and sustainable investments. The Siemens subsidiary evosoft won in the category for the most innovative product investment of the year, and Samsung SDI was recognized as R&D investor of the year.
For its commitment to vocational training and the promotion of skilled workers, Audi Hungaria Ahead received recognition for the most comprehensive training program of the year (See our separate Article on page 1!). The Industrial Park of the Year award went to the city of Szolnok, which impresses with its infrastructure and optimal conditions for companies. At the end of the awards, Bíró Kft. was named supplier of the year.
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