We are proud to share that BlackRock, MOL and Zalaegerszeg Science and Technology Park were among the eight winners at Hungarian Investment Promotion Agency's prestigous 7th Annual Investory of the Year gala.

All previous results were exceeded by the Hungarian Investment Promotion Agency (HIPA) in 2017: following the 71 positive investor decisions made in 2016, last year 96 decision-making processes resulted in EUR 3,512 million investment and creation of 17,021 jobs. The number of projects significantly increased compared to last year indicating that projects with fewer investment and less staffing but requiring new technology, better qualification and expertise have become the focus.

Another important trend is that as in previous years, two-third of the projects were reinvestments or expansion, i.e. the development of a company already established in Hungary, while one-third of them are newcomers to the country in 2017. This is an excellent indicator that market players are satisfied with the domestic economic environment and the operation and efficiency of the Hungarian entity, so they reinvest their profits in Hungary.

It is our clear objective, based on last year's tendencies, to further increase the proportion of "Invented in Hungary" investments among the projects. This means that when it comes to investment promotion and FDI, we put emphasis on the added value of the new jobs created, and to bring new technologies to Hungary - added Róbert Ésik, President of HIPA.

In addition to encouraging the investment and reinvestment of large companies, HIPA pays particular attention to the comprehensive development of the investment environment by supporting the supplier role of Hungarian small and medium-sized enterprises and preparing investment venues for large investors, therefore two categories of the prizes are specifically designed to recognize domestic stakeholders. A special prize was awarded to a company that has been present for a quarter of a century and continues to expand its activity in Hungary. All the awards were handed out by Péter Szijjártó, Minister of Foreign Affairs and Trade and Róbert Ésik, President of HIPA.

MOL Group's MOL Petrochemichal Zrt. received the Largest Expansion of the Year Award. The largest Hungarian investment ever carried out by MOL Group in Hungary: the petrochemical business of the company builds a complex chemical plant - valued nearly EUR 1 billion - in Tiszaújváros. The creation of the 21st century, environmentally friendly petrochemical complex for producing polyether polyols as plastic raw materials is an integral part of the Group's 2030 strategy, which will make MOL the only integrated polyether polyol producer in Central and Eastern Europe. Polyether polyols are highly in demand ingredients in plastic raw material production. Demand for polyether polyols in the automotive, construction and furniture industries is constantly increasing.

BlackRock Hungary collected the Center of Excellence investment of the Year award. The world's largest investment manager firm has chosen Budapest as the location of its newest international technology and innovation center. The quality of work played a key role in the decision: Hungarian talents' way of thinking in addition to skills. BlackRock organized networking events for recruitment purposes in London and Frankfurt to attract Hungarian experts from abroad to Budapest. Reaching a headcount of 260 within 12 month shows that the Hungarian unit has made it to an important part of BlackRock's network in just a year.

The Industrial Park of the Year award was accepted by Zoltán Balaicz, Mayor of Zalaegerszeg on behalf of the Zalaegerszeg Science and Technology Park. The Europe-wide unique Zalaegerszeg industrial park, providing a home for a vehicle testing site finished in 2 years, was the first to obtain the Science and Technology Park title in the country. Further developments and investments are promoted by an intermodal container terminal with port and rail connections near the industrial park, which enhances the logistic availability of the western part of the country and helps to attract more investors.

Other Winners

  • The largest greenfield investment of the year:
    thyssenkrupp Components Technology Hungary Kft.
  • Company creating the highest number of jobs of the Year:
    ZF Hungária Kft.
  • R&D investor of the year:
    Itron Labs Ltd.
  • Hungarian supplier of the year:
    PATA JÓZSEF Mechanical Engineering Ltd.
  • Investor of the last 25 years (Special Prize):

If you wish to read the full article on HIPA's official website, please click here.