Nokia 5G technology project will create 150 new jobs in Budapest

01. 06. 2022 Wednesday / By: Robert Denes / Industrial / Exact time: BST / Print this page

T his was announced by Péter Szijjártó, Minister of Foreign Affairs and Trade, on Tuesday. Nokia's HUF 2.5 billion investment is supported by the government's HUF 633 million research and development program related to 5G technology, which is unique in Nokia's history, as we can only read about downsizing and austerity in recent years.

According to Foreign Minister Péter Szijjártó, such investments underpin Hungary's long-term economic growth.

Minister of Foreign Affairs and Trade Péter Szijjártó said: "World-class infrastructure is worth nothing without world-class professionals." He added that the coronavirus epidemic further accelerated the change of dimension of the Hungarian economy,

The goal is to "move from the Made in Hungary period to the Invented in Hungary period as soon as possible."

The Minister noted that the Hungarian government is still not increasing the tax burden on companies engaged in production and research and development, adding that between 2010 and 2022, the amount spent on research and development increased from 0.98% of Hungarian GDP to 1.6%.

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