Hungarian Investment Promotion Agency

In his welcome speech at the gala, held at the Museum of Fine Arts, Mr. István Joó highlighted that 2024 was a challenging year. This is why

we are especially proud of last year’s achievement of EUR 10.3 billion,

which serves as a worthy milestone for the 10th anniversary of HIPA .

As to the priorities of this year, the Government Commissioner for Investment Promotion and Implementation of Large FDI Projects pointed out that strengthening the economies of southern counties, enhancing supplier relationships, and increasing the number of research and development (R&D) projects is key to sustained success.

He also emphasized that one of the new objectives is to ensure that support for R&D results in patents registered in Hungary.

Regarding the recently announced ‘100 New Factories Programme’, Mr. István Joó underlined that HIPA’s entire team is ready for the challenge.

To achieve our goals, we will significantly modify our support system to best serve the growth of the Hungarian economy

- Mr. István Joó said.

Mr. Péter Szijjártó, Minister of Foreign Affairs and Trade pointed out  that that Hungary has consistently emerged stronger from recent crises, including the global financial crisis, the COVID-19 pandemic, and the challenges caused by the war in Ukraine. He highlighted:

We keep breaking employment records, and 2024 was the second most successful year in Hungarian economic history in terms of investment promotion.

Thanks to stability and a favorable domestic business environment, 77 projects have been launched, bringing EUR 10.3 billion (more than HUF 4,000 billion) into the Hungarian economy and creating 18,500 new jobs, Mr. Péter Szijjártó explained.

Furthermore, HIPA supported a record number of Hungarian investment projects last year, which is a major "strategic success", considering that a decade ago, there were hardly any Hungarian companies that met investment promotion criteria, the minister added.

He also noted that negotiations between the United States and Russia have sparked hope that

after three difficult years, peace could return to the heart of Europe, leading to a significant boost in economic performance across Central Europe.

At the same time, several large-scale investments are set to bear fruit this year, including BMW’s factory in Debrecen and BYD’s plant in Szeged. This means that "the foundations are in place for 2025 to be the year of breakthrough."

This aligns with the '100 New Factories Program, which aims to maintain full employment and ensure stability in the livelihoods and everyday lives of Hungarian families, Mr. Péter Szijjártó concluded.

Award winners of HIPA’s “Investors of the Year 2024 Award” Ceremony

Award for Best Supplier: Videoton Holding Zrt.

Based in Székesfehérvár, the VIDEOTON Group has a history of more than 85 years, has been privately owned since 1991, and currently offers its manufacturing and production-related services to industrial partners at 9 sites in Hungary and 1 in Bulgaria. Employing nearly 8,500 people in its 21 affiliates, VIDEOTON is one of Hungary’s most valuable domestically owned manufacturing companies, and one of the five largest European electronics contract manufacturers. In addition to electronics and component production, key activities of Videoton include complex assembly and finished product manufacturing and pilot projects involving several member companies.

Award for Best Industrial Park: Miskolc Megyei Jogú Város Önkormányzata/Miskolc Holding Zrt.

The Miskolc Industrial Park acquired the title of “Industrial Park” in December 2005, for an area of 68.5 hectares at that time. Due to increased investor interest, however, it has been expanded more than threefold in several stages, therefore it now covers approximately 225 hectares. More than 50 companies operate in the built-in area of the industrial park, the largest being an automotive supplier, the Bosch Group. The most dynamically developing part of the Miskolc Industrial Park is the Mechatronics Industrial Park on 65 hectares, where 12 enterprises currently operate as a result of the joint work of the Municipality and its asset manager, providing jobs for some 1,800 people.

Award for Largest Training Programme: LG Magna e-Powertrain Hungary Kft.

LG Magna e-Powertrain is a joint venture between the South Korean LG Electronics and the Canadian Magna International founded in 2021. The company specializes in powertrain solutions for electric vehicles and manufactures components that contribute to the future of sustainable mobility, including propulsion engines, energy conversion equipment and integrated systems. It operates its global manufacturing and sales network from key bases such as Nanjing, Detroit, Tokyo and Miskolc, ensuring fast and accurate customer service. The success of LG Magna e-Powertrain is based on strong commitment to innovation, advanced technology and quality. The company allocates significant resources on research and development (R&D) to increase the efficiency and performance of its electric powertrain components.

Award for R&D Investment: Diligent

Diligent is the leading GRC Software as a Service (SaaS) company  for  corporate governance, risk and compliance management helping over one million users, including 700,000 board members and senior executives, to make more informed decisions faster. The American company established its Global Centre for Product Innovation in Budapest in 2021, taking its activities to the next level. Since 2024, the company has expanded by more than 100 new employees to further strengthen its innovation efforts. Among other things, the teams’ activities include software development, product management and product design research.

Award for Newcomer Investor: Bamo Technology Hungary Kft.

BAMO Technology Hungary Kft. is the Hungarian subsidiary of the Chinese high-tech company Huayou Cobalt. With an investment of EUR 1.3 billion, the company is building a cathode material factory in Ács, where pilot production of cathode material, which is one of the main components of green energy storage systems, will commence in the second half (H2) of 2025. The products will also appear in the electric cars rolling out of the BMW factory in Debrecen. The greenfield investment will create 900 jobs and will not only strengthen the industrial ecosystem of Komárom-Esztergom County with world-class, but also safe and risk-free technology.

Award for Continuous Reinvestment: HELL ENERGY Magyarország Kft.

HELL ENERGY is one of the fastest growing FMCG brands in the world, as evidenced by its serial domestic success as well as its explosively expanding export market. The 100% Hungarian brand was established in 2006, took Hungary by storm by 2010, and has now become a dominant player in the international energy drink market, present on five continents in more than 60 countries, and has a market leading position in 10 countries. The success story reached another milestone in May 2024, as the company opened a new factory unit equipped with state-of-the-art technology in Szikszó, Hungary. With the newly inaugurated unit, HELL’s giant factory now covers an area of 83 hectares, which has taken the company’s production to a new level.

Lifetime Award for Significant Investor: Wanhua Chemical Vállalatcsoport

In a transaction of EUR 1.2 billion, Wanhua acquired BorsodChem, one of Europe’s leading manufacturers of plastic raw materials and inorganic chemicals in January 2011, as the largest Chinese investment in Central and Eastern Europe at the time.

The new owner made the company, which was taken over in a critical financial situation profitable in four years through financing resources, technology and knowledge transfer, as well as Chinese–Hungarian teamwork. It is a strategic aspiration for BorsodChem to become Wanhua’s largest overseas production base, the most competitive polyurethane manufacturer in Europe, the operational centre of the parent company’s European interests, as well as the European manufacturing hub for innovative, new chemicals developed by the owner.