BUDAPEST, Sept. 29 — Chinese tech giant Lenovo Group will build a factory in Hungary, Foreign Minister Peter Szijjarto said here on Tuesday.
According to Szijjarto, the 8.2-billion-Hungarian-forint plant will be built in Ullo on the outskirts of the capital, with a government grant of two billion forints.
"The investment will create 1,000 jobs and introduce advanced technological solutions. Production at the plant could begin in early 2021," the minister said, adding that the investment would accelerate development-based industrial production, which means it offers great opportunities for the Hungarian economy and Hungarian engineers.
Szijjarto stressed that the decision by Lenovo confirmed that leading technology companies trusted Hungary and justified the "Eastern Opening" policy of the country, underlining that there was fierce global competition for Chinese investment.
Have you found that article insightful?
That article was found insightful by 100% readers.
Read the original article "Chinese tech giant Lenovo to build Hungarian manufacturing plant: Hungarian minister" at https://www.thestar.com.my/news/world/2020/09/30/chinese-tech-giant-lenovo-to-build-manufacturing-plant-in-hungary-hungarian-minister