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China’s Fiberhome will set up its largest European base in Hungary, where it will manufacture optical cables. The HUF 8 billion (EUR 20 million) investment could create about 150 new jobs, Minister of Foreign Affairs and Trade Péter Szijjártó said in Beijing on Wednesday.
After holding talks with the heads of several Chinese companies at the beginning of the week, the Minister announced that Fiberhome, one of the world leaders in the field of info-communications, has decided to set up its largest European base in Hungary.
The company will bring a modern investment to Kisbér (northwestern Hungary), where it will manufacture optical cables.
The project is worth HUF 8 billion and will receive 15 percent financial support from the state, helping to create around 150 new jobs in the town. “Chinese companies are now among the world leaders in sectors requiring the most modern and sophisticated technological solutions,” he said. To underline Fiberhome’s technological sophistication, he pointed out that the company currently holds around 4,000 patents.
The Minister said that the demand for fiber optic cables is constantly growing, as this type of infrastructure carries a significant part of communication traffic, and the demand for communication is increasing.
If the demand for optical cables continues to grow and if there is a need for further expansion of production capacity, the company has already indicated that it will make further investments in Hungary,”
he noted.
“It is therefore good news that Chinese companies continue to see Hungary as their number one investment destination in Central Europe, and the process of Chinese companies contributing to the growth of the Hungarian economy looks set to remain stable in the future,” the Minister concluded.
Via MTI, Featured image: X/FiberHome