“Evosoft Hungary Ltd. will be realising two investment projects in future worth a total of 5.2 billion forints (EUR 16.1 million), with which it will be creating a total of 125 new workplaces for highly-trained IT professionals”, Minister of Foreign Affairs and Trade Péter Szijjártó announced at a press conference in Budapest on Thursday.

“Those states will be successful and competitive within the global economy that switch to the digital age the most rapidly. The Hungarian Government has introduced a host of measures to facilitate this, thanks to which Hungary has the lowest rate of corporation tax in the EU, and one of the lowest rates of personal income tax”, he highlighted.

Evosoft Hungary is the country’s leading software development company, and is owned by the German Siemens Group.

One of the investments being realised by Evosoft is an R&D&I development project costing 4.5 billion forints (EUR 14 million), which will be realised in Budapest and Miskolc and will create 75 new jobs. The other job-creating investment will be realised in Miskolc and Szeged, costing 700 million forints (EUR 2.17 million) and creating 50 new jobs.

Evosoft soft will be receiving 1.4 billion forints (EUR 4.35 million) in non-returnable funding from the Hungarian state towards the two projects, the Minister told the press.

Mr. Szijjártó recalled that according to one of IBM’s latest surveys, Hungary is the world’s 7th most popular investment destination, and according to a recent report by the German-Hungarian Chamber of Commerce, over 80 percent of the German companies operating in Hungary would invest in Hungary again.

According to the Minister of Foreign Affairs and Trade, this latest investment will further reinforce investment and trade relations between Hungary and Germany, and Hungarian exports to Germany could exceed 20 billion euros this year.

Mr. Szijjártó also spoke about the fact that Hungarian foreign trade could set a new record again this year, and that following last year’s record, Hungarian exports are expected to once again exceed 100 billion euros.

Operative Director of Evosoft Hungary Ltd. István Petényi told the press: the company provides the most highly developed software solutions for Siemens and employs some 1600 extremely highly trained professionals.

The company realised 25 billion forints (EUR 77 million) in revenues and 2 billion forints (EUR 6.2 million) in after-tax profits during the last financial year between 1 October 2017 and the end of September 2018.