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Bosch Launches Innovation Programme In Hungary

By Tamás Székely // 2015.03.05.

Hungary’s economy minister Mihály Varga attended the opening ceremony of a 2.2 billion forint (EUR 7.17m) development project by the German Bosch concern in northern Hungary’s Miskolc. In his address at the ceremony, Varga said that Hungary’s economy will meet the government’s 2.5% GDP growth target. He said that the country’s good positions could be maintained if the government not only supported businesses but also took care of the business environment.

Varga also said that in the coming years, Central Europe is going to become the centre of growth in Europe, “which is also underpinned by Hungary’s economic results over the last year, with which we have succeeded in becoming one of the fastest growing countries of the EU”.

Talking about Bosch, Varga emphasised that over the last two decades, the company has become the third largest foreign manufacturing company and the fifth largest foreign employer in Hungary. “The Bosch Group’s commitment towards Hungary contributes to increasing the number of workplaces and the value of investments, as well as to improving the competitiveness of the economy”, the Economize Minister stressed.

In the framework of the innovation programme of the Robert Bosch Power Tool Ltd. Miskolc that has just been launched, a development of HUF 2.2 billion has started, for which the company had won EU funds worth HUF 1 billion. As a result of the project due to be concluded in 2016, 350 new workplaces will be created.

via hungarymatters.hu and kormany.hu photo: János Vajda – MTI