"We have set a target for Hungary to be among the top ten innovators in Europe by 2030," State Secretary Balázs Hankó says.Continue reading
An increasing number of investments with high added value are arriving in Hungary, as shown by the fact that the amount spent on research and development (R&D) last year exceeded HUF 1,000 billion (EUR 2.7 billion), Minister of Foreign Affairs and Trade Péter Szijjártó revealed in Budapest last Friday.
At the announcement of the investment by the Japanese-German owned DMG MORI, he said that the state will provide HUF 870 million (EUR 2.3 million) in support of the machine tool company’s more than HUF 4 billion (EUR 10.8 million) research and development project, thereby helping to create 50 new jobs in the Hungarian capital. The company will develop production support software to make machine tools more efficient.
In his speech, Péter Szijjártó pointed out that in 2010, the government embarked on a massive job creation drive, one of the main tools of which was rapid industrialization. He said
this had created a production-based economy, which was no longer facing the problem of mass unemployment, but of having a sufficient and properly skilled workforce.
“As a result of the developments in Hungary in recent years, we can now confidently say that the world’s elite, the largest, best-known and most powerful international companies also recognize the higher level of education, creativity, diligence, and innovation skills of Hungarian people, which means that we can attract more and more high value-added R&D-based investment to Hungary,” he emphasized.
Photo: Facebook/Péter Szijjártó
The foreign minister added that the number of R&D jobs has increased by almost 4,000 in a year, and now exceeds 90,000. In this context, he stressed that
attracting R&D activity to Hungary is also important for improving the efficiency of production, which is linked to sustainability and reducing the ecological footprint.
He also pointed out that German companies continue to be the largest investor community in Hungary, but Japanese companies are also in the top ten. “The combination of these two usually means good news for Hungary from an economic point of view,” Szijjártó underlined.
Featured photo via Facebook/DMG MORI HEITEC Digital Kft.