HIPA is the best investment promotion agency in the region for the second time at AIM, Dubai

HIPA is the best investment promotion agency in the region for the second time at AIM, Dubai

AIM Dubai

The Hungarian Investment Promotion Agency has again recorded a landmark achievement. Hungary's investment environment and HIPA's efforts have now been recognised at the annual congress of the Annual Investment Meeting (AIM) event, as being the best investment promotion agency in the region of Central Eastern Europe and Turkey. This can be partly attributed to the results of another record year of investments in 2019 and to the special investment project of South Korea-based SK Innovation in Komárom. The award was received by Róbert Ésik, CEO of HIPA, who said thanks for the honour in the following video message.

The Annual Investment Meeting (AIM) is one of the most significant FDI-related events in the world. This year, due to the pandemic situation, the multi-day programme went digital, whose participants include some of the highest-level decision-makers of the business and government sector, alongside entrepreneurs and researchers from all over the world, all joining this event to get familiar with the current trends and the latest strategic approaches. The conference in 2020 primarily addressed the issue of the economic crisis caused by the pandemic, and the alternatives for its management.

After Hungary's success at the congress in 2019, this year the country was again granted the AIM Investment Award for the best agency in the region. The professional board's decision was based on the results of 2019, which surpassed every previous investment promotion record, and was justified by SK Innovation's choice to invest in the expansion of its Hungarian production plant, as a significant unit in the region.

2019 was another record year for the Hungarian Investment Promotion Agency (HIPA), as it was in 2019 for the first time in its history that the number of foreign direct investment (FDI) projects exceeded 100 in Hungary. Last year a total of 101 projects attracted investments worth EUR 5,350 million, creating 13,493 million new jobs. In this, investors from countries under the 'Opening to the East' policy, namely South Korea, Japan and China, played a decisive role, with a majority of them being involved in electro-mobility. It is also remarkable that last year South Korea excelled both in terms of invested volume (around 50%) and the number of new jobs (over 30%).

As Róbert Ésik, CEO of HIPA, stated:

Hungary has strengthened its position in the field of electro-mobility and has become one of its centres in Europe. In the past three years electro-mobility related investments totalled over EUR 3.5 billion in the country, creating more than 6,000 new jobs. South East Asian companies are key players in this respect, with SK Innovation being one of them, which opened its first and unique European production units in Komárom, creating more than 2,500 new workplaces in the region.