Chinese giant Huawei will set up a research and development (R&D) center in Budapest, Foreign Minister Peter Szijjarto announced on Tuesday, the Budapest Business Journal reported.
The investment, which will create new jobs for at least 100 Hungarian engineers, is Huawei’s third in Hungary, Szijjártó said.
He added that the new R&D center will focus on artificial intelligence, streaming services, image processing, cutting-edge technologies, mass distribution systems.
Cai Lingyu, head of Huawei Technologies’ subsidiary in Hungary, said the company had invested $ 1.5 billion in the country since 2005 and now has almost 2.400 employees.
Last year, the Hungarian subsidiary Huawei Technologies recorded revenues of 77 billion forints.
Is not the first Chinese investment in Hungary, personal computer maker Lenovo will also build its first European plant in Hungary, as Money Buzz! Europa reported.