Ministry of National Economy of Hungary : Hungary aiming to become the region’s leader in digitalization

Hungary aims to become the regional centre of digital technology development, Minister for National Economy Mihály Varga said in Shenzhen, visiting telecoms giant Huawei and Build Your Dreams (BYD), a leading manufacturer of electric vehicles and accumulators.

Several Chinese enterprises seek cooperation with Hungary regarding the development of of e-mobility, intelligent transport systems, autonomous cars and smart cities, he stressed. An increasing number of investment projects are underpinning the solid growth of China's FDI in Hungary, Mihály Varga noted. In accordance with Hungary's industrial development efforts, the Government supports investment and economic activities with high R&D and innovation content.

Mihály Varga welcomed the fact that both companies show a long-term commitment to Hungary: Huawei expressed interest for cooperation in building the technical background for the planned test track in Zalaegerszeg, and the company is developing programmes for Hungary's Tax and Customs Administration. BYD is to build its first European electric bus factory in Komárom, Northern Hungary. During the talks, the Minister drew attention to the Government's support programme for suppliers. The rising volume of investment projects, he noted, are increasing not only the number of jobs but, as a knock-on effect, they may also bolster Hungarian enterprises and research capacities.

Huawei, one of the world's leading telecom companies established in 1987, has been operating a logistics centre in Biatorbágy that serves the entire European region. In 2015, the company generated revenues of HUF 67.5bn, and employs 242 people.

BYD, one of the largest enterprises in China, has specialized in manufacturing high-tech accumulators used in various sectors. The company's investment project in Hungary may help the country's advancement in terms of automated transport.

(Ministry for National Economy)