Nokia is investing one hundred and fifty new jobs in Nokia Budapest
One hundred and fifty new, highly skilled jobs have been created in Budapest as a result of Nokia’s new investment in a research and development program related to 5G technology, said Péter Szijjártó, Minister of Foreign Affairs and Trade.
The head of the ministry said in the announcement of the investment that the state is supporting the project of the Finnish telecommunications company, which is present in nearly 130 countries and is worth about HUF 2.5 billion, with HUF 633 million. In connection with this, he also mentioned that more than two thousand people are already working at Nokia’s research and development center in Budapest, which helps to keep young talent in Hungary.
In his speech, he emphasized that the world’s research and development investment world line is the long-term economic growth trajectory, and to attract them, the reform of higher education was essential, as “world-class infrastructure is nothing without high-quality professionals.”
As he said, the coronavirus epidemic has further accelerated the change of dimension of the Hungarian economy, which is welcome because they want to move from the Made in Hungary period to the Invented in Hungary period as soon as possible “.
Péter Szijjártó emphasized that it was right to focus on competition for high value-added investments, and the government continues to insist on its successful economic policy so far.
“Despite the extremely challenging international environment, we are not increasing the tax burden on manufacturing and R&D companies,” he said, adding that the successful economic policies of recent years have been underpinned as well by keeping labor taxes low.
He pointed out that between 2010 and 2022, the amount spent on research and development increased from 0.9 per cent of Hungary’s gross domestic product (GDP) to 1.6 per cent, an increase of 60 per cent.
The minister also reported that a new world economic era had begun in the wake of the coronavirus epidemic, and now not only was the period of abundance over, but energy prices had risen and raw materials and services had become extremely expensive, and this negative spiral was now not even see the end.
He emphasized that, despite the poor conditions, Hungary was producing economic results in the post-transition period.