Foreign minister Peter Szijjarto – Photo: Facebook

Szijjarto: Nokia investment to create 150 jobs in Hungary

Finnish telecommunications and IT company Nokia's 2.5 billion forint (EUR 6.35m) investment is set to create 150 advanced-skill jobs in Budapest as part of an R+D programme in 5G technology, Peter Szijjarto, the minister of foreign affairs and trade, said on Tuesday.

The government is supporting the investment with a 633 million forint grant, Szijjarto said. Nokia now employs more than 2,000 people at its R+D centre in Budapest, which helps keep young talent in Hungary, the minister said.

Investments in R+D lay the foundation for Hungary’s long-term growth path, he said, adding that the reform of Hungary’s higher-education system played a crucial part in attracting more investors to the country.

Szijjarto said the pandemic had further accelerated the dimensional shift of the Hungarian economy, adding that the country aspired to go from the “Made in Hungary era” to the “Invented in Hungary era” as quickly as possible.

He said Hungary had made the right decision by focusing on the race for high value-added investments. The government continues to insist on its current economic policy, he added.

Hungary has gone from spending 0.98 percent of its GDP on R+D in 2010 to spending 1.6 percent in 2022, a roughly 60 percent increase, he said.

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