Defence Minister: Military equipment made in Hungary boosts security
The joint venture will help start the rebuilding of Hungary’s defence industry which had declined “mainly due to decades of irresponsible political decisions”, Szalay-Bobrovniczky said at the ceremony.
Hungary’s military will now have equipment that will guarantee the security of the Hungarian people, he said.
The minister said the joint venture agreement was the result of years of hard work by many people and a milestone in strengthening Hungary’s military strength and economy. The cooperation between the defence ministry and Dynamit Nobel Defence will create jobs, generate tax revenue and boost the reputation of the Hungarian economy, he added. It will also help prevent any disadvantages from potential supply chain disruptions, Szalay-Bobrovniczky said.
The agreement was signed by Dynamit Nobel Defence CEO Michael Humbek and Laszlo Palkovics, CEO of defence industry innovation holding company N7 Nemzeti Vedelmi Ipari Innovation Holding.
Avishay Regev, head of Dynamit Nobel Defence’s supervisory board, praised Hungary’s favourable investment environment and skilled workforce. He said Hungary was led by a government that ensured the protection of its own and the European Union’s borders and was committed to boosting the country’s defence capabilities.
Regev highlighted the cooperation between Germany and Hungary’s armed forces, noting that they used and would continue to use some of the same defence systems.