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Huawei’s Economic Influence in Hungary Growing

MTI-Hungary Today 2020.12.08.

The influence of Huawei Technologies on Hungary’s economy has grown over the past five years, with one-seventh of its European spending taking place in Hungary last year, according to a study by Oxford Economics.

Huawei contributed 600.5 million euros to Hungary’s GDP last year through its European activities, according to the analysis cited by Huawei Technologies Hungary. Its contribution has grown steadily, averaging 5.5 percent each year between 2015 and 2019.

Last year Huawei contracted goods worth 1.18 billion euros from its Hungarian suppliers, accounting for 14.1 percent of the company’s European purchases, which have grown markedly — by an annual 4.8 percent since 2015.

Foreign Minister: Good Cooperation with Huawei National Interest
Foreign Minister: Good Cooperation with Huawei National Interest

Continuing good cooperation with telecoms giant Huawei is a national economic and strategic interest for Hungary, Foreign Minister Péter Szijjártó said on Friday. Szijjártó, who is attending the second Belt and Road international forum in Beijing, held several one-on-one meetings, among others with James Li, Huawei Technologies European regional chairman, and William Wu, head of […]Continue reading

Huawei’s activities supported the employment of 21,500 Hungarian employees last year, up from 18,000,900 in 2015, an average annual increase of 3.3 percent.

State revenues have grown accordingly: Huawei generated revenues of 246.4 million euros last year, up 5.7 percent from 2015.

Huawei to Set up R+D Centre in Budapest
Huawei to Set up R+D Centre in Budapest

Chinese telecommunications giant Huawei is setting up a research and development centre in Budapest, Minister of Foreign Affairs and Trade Péter Szijjártó said on Tuesday. The investment, which will create jobs for at least 100 Hungarian engineers, is Huawei’s third in Hungary, Szijjártó said. Szijjártó said cooperation between Hungary and China was better than ever. […]Continue reading

The company has boosted its ICT investments in Hungary in recent years and has contracts with more than 600 Hungarian partners involved in developments such as the country’s 5G network. Hungary is also home to Huawei’s largest supply centre outside of China.

In the featured photo: Huawei Technologies Hungary executive manager Cai Lingyu. Photo by Márton Mónus/MTI