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Huawei will establish a new research and development (R&D) center in Budapest, and the cooperation between Hungary and China is better than ever, said Foreign Minister Péter Szijjártó at the company’s jubilee event in Budapest. .
The minister highlighted: One of the giants of the telecommunications world, Huawei’s investment in Budapest is already the third in Hungary.An R&D center will be established in the capital employing at least 100 Hungarian engineers, he said. The Minister of Foreign Affairs and Trade described the investment as a milestone in the strategy of opening to the East and changing the size of the Hungarian economy.
The new R&D center will focus on artificial intelligence, transmission, image processing and signaling technologies, and extremely large distribution systems. The development provides an opportunity to enhance Hungary’s reputation and Hungary’s engineering and technical expertise.
Péter Szijjártó stressed that Huawei was the first Chinese company with which Hungary signed a strategic agreement seven years ago. Players in the Hungarian telecom market are highly dependent on Huawei’s infrastructure, which has been active in investments so far.
The corporate giant also operates the largest logistics center outside of China in Hungary. said the Minister. He said it was important for the company to announce a significant investment in Hungary even during the pandemic, and thanked the company for its donations to control the epidemic.
He mentioned: With the strategy of opening up to the east, exports from eastern Hungary increased by 22 percent and trade by 25 percent in ten years. Last year, 60 percent of the investment value received in Hungary came from the East, and 40 percent of the new jobs are linked to companies from the East. One of the main objectives of the strategy is to establish close, pragmatic and mutually beneficial cooperation with the People’s Republic of China. In the past 10 years, the country has received $ 5 billion in Chinese investment, Chinese companies employ 15,000 Hungarian workers, and Hungary has 8 Chinese strategic partners.
He described as understandable that Hungary was the first EU country to join the “One Zone-One Road” initiative and was the first foreign sovereign actor to successfully issue bonds on the Chinese bond market.
Economic, political, cultural or educational cooperation between Hungary and China has never been as good as it is today: last year, China became Hungary’s 10th most important trading partner.
In the first eight months of this year, the turnover increased by 19 percent, while Hungarian exports to China also increased by 10 percent.
Cai Lingyu, Managing Director of Huawei Technologies Hungary on the occasion of the company’s presence in Hungary for 15 years and in Europe for 20 years, said: As one of the world’s leading providers of infocommunication solutions, the company has invested $ 1.5 billion in Hungary since 2005, making it the second largest Chinese investor. Eighty percent of the Hungarian population uses the company’s telecommunications equipment in their daily communications.
In 2009, the assembly was first installed in Hungary, and in 2013 Huawei’s largest supply center outside of China, the Europe Supply Center, opened its doors. The center manufactures and supplies telecommunications, servers, data storage and 5G equipment, based on the latest generation mobile networks built in the European Union, from Hungary to more than 50 countries. The company has about 2,400 employees.
“Huawei has considered Hungary a priority location for the past 15 years because it provides the company with a balanced and open business environment,” he said. The company is committed to Hungary and plans to expand its activities in the future, among other things, in the field of university partnerships and adult education.
Huawei Technologies Hungary’s sales revenue in 2019 was 77 billion HUF, and in the last 5 years it has paid 83.4 billion HUF ($ 277 million) in budget taxes. The company is in contact with more than 600 Hungarian partners and is involved in strategically important developments such as the Internet Superfast Program or 5G networks.
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