Economy minister: Hungary has become a major motor vehicle manufacturing hub in Europe

Motor vehicle manufacturing is playing a key role within the Hungarian economy, and thanks to the performance of the more than 700 enterprises active in the sector the volume of output soared by more than 17 percent over the past one year, Minister for National Economy Mihály Varga said at a conference organized as part of Automotive Hungary, a car industry exhibition event.

As the Minister stressed, the Government wants to see rising productivity within the domestic motor vehicle sector, and it is only possible if the number of Hungarian suppliers increases and their applied technologies improve.

In the opinion of Mihály Varga, it is realistic to see, even in the medium term, a higher share of high added value products by Hungarian enterprises and more R&D activities instead of simple contract work. To this end, the Supplier Development Action Plan aims, among others, to boost production capacities and increase the variety of goods produced, bolster innovation, further develop the dual education system and foster international inter-industry relations, the Minister pointed out.