“The Hungarian Government is committed to the development of the infocommunications sector, in view of the fact that the digital transition is the key to a high rate of economic growth”, Minister of Finance Mihály Varga declared following talks with European Region Group President of Huawei Technologies James Li in Beijing.

“The Hungarian economy offers a suitable operating environment for Huawei, which is Hungary’s second largest Chinese investor”, the Finance Minister stressed.

“Huawei is an important strategic partner of the Government, it provides jobs to over 2000 people in Hungary, and the company’s largest supply centre outside China operates in Hungary. The continuously improving performance of the Hungarian economy, the continuously decreasing taxes and the investor-friendly government measures all contribute to the fact that the company continues to view Hungary as a potential investment destination”, the Minister explained.

At the meeting, both parties agreed that the digital transition not only bears with it opportunities, but also social, economic and security challenges, for which national governments must also prepare. “For this reason, we greatly appreciate the fact that Huawei, one of the leading global providers of information and telecommunications technologies, wishes to support our country in the development of financial know-how and the proliferation of infocommunications technology”, Mr. Varga highlighted.

“We both see further cooperation opportunities within the fields of intelligent transport, digital teaching, sustainability and employment policy”, he said. At the meeting, the parties discussed, amongst others, the establishment of so-called intelligent customs-free areas and zones, and online tax possibilities that can be further simplified using infocommunications technologies. At the meeting, James Li thanked the Hungarian Government for handling Huawei’s development and presence in Hungary rationally and factually, and for providing the company with a fair and balanced business environment.

Mr. Varga pointed out that according to a previous agreement, the Chinese company will be assisting the further proliferation of broadband internet access in Hungary, with which Huawei will also be contributing to the Government’s goal of ensuring that 90 percent of Hungarian households have access to a high-speed internet connection by 2025.

(Ministry of Finance)