Harman to create 420 jobs in Pécs with mega-investment

Minister of Foreign Affairs and Trade Péter Szijjártó said that the Hungarian government will aid the investment with a HUF 750 million support through the Hungarian Investment Promotion Agency (HIPA).

The Minister called Hungarian-U.S. economic cooperation a success story. According to the latest data, total exports from Hungary to the United States amounted to approximately USD 4 billion in 2014, representing a 20 percent y/y increase.

This significant growth can be mainly attributed to the automotive industry since sectorial exports to the U.S. increased by 40 percent, he added.

Tier 1 automotive supplier Harman announced plans to carry out major investment in Hungary - Source: MTI

Péter Szijjártó said that the automotive industry is still the flagship of Hungarian economy: the sector produced a revenue of HUF 6,650 billion in Hungary last year, representing a 23 percent y/y growth. The automotive sector had over 132,000 employees in 2014, which is a 16 percent increase from 2013, he added.

U.S. Ambassador to Hungary Colleen Bell said that Hungarian-U.S. trade relations are of utmost importance for the United States. "We remain committed to working with our counterparts here in Hungary to make our ties stronger", she pointed out. She added that Washington would like as many companies to invest in Hungary as possible.

With the investment in Pécs, the number of people employed by Harman in Hungary will increase to over 2,000.

It was said at the press conference that Harman supplies several premium models with audio equipment. The U.S.-based company is a supplier of premium manufacturers such as Audi, BMW, Mercedes, Porsche and Land Rover. The company is one of the TOP100 Tier 1 automotive suppliers in the world.

(Ministry of Foreign Affairs and Trade)