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Government Signs Strategic Partnership with Siemens

MTI-Hungary Today 2021.02.11.

The government has signed a strategic cooperation agreement with Siemens Energy, the company announced on Thursday, adding that they would launch a one billion forint (EUR 2.8m) investment project in Hungary.

Péter Szijjártó, the minister of foreign affairs and trade, said that the government would contribute 294 million forints to the project.

Fidesz Spends Far More On Hungary's Corporations Than Previous Governments
Fidesz Spends Far More On Hungary's Corporations Than Previous Governments

The government has been actively providing funding for large domestic and multinational corporations in return for the creation of jobs in Hungary, reports Free Europe. According to the Ministry of Foreign Affairs and Trade, 67.1 billion forints (EUR 187.5m) of government money were allocated to 27 corporations in 2020. The German Thyssenkrupp Components Technology Hungary […]Continue reading

Under the partnership agreement, Siemens Energy will build closer cooperation with Hungary’s education system and further its ties with Hungarian suppliers, Szijjártó said. The company’s new development project will facilitate application of the latest technologies and help preserve 1,400 jobs, the minister added. He also said that Siemens Energy had one of its largest bases in Budapest, a major manufacturer of turbine blades.

featured image via Péter Szijjártó’s Facebook page