Japanese car industry company Seiren is investing 15.2 billion forints (EUR 42.3m) to set up a new plant in Pécs, southwest Hungary, Minister of Foreign Affairs and Trade Péter Szijjártó said. The company will build a 26,000sqm plant and create 170 jobs with a 4.6 billion forint government grant, Szijjártó said. This will be the company’s first plant in Europe, turning out car seat covers for the European market, he added.
Szijjártó said the investment showed the success of Hungary’s policy of opening to the East. Currently, over 180 Japanese companies employ some 30,000 Hungarians, among other countries from the Far East that have been making progress in Hungarian investments, he said. Japan is the 8th largest group of investors in Hungary, with a prospect to rise higher on that list, Szijjártó said. As an open economy, Hungary greatly appreciates cooperation with other countries, and Japan has a special position in its foreign economy policy, he said.