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Our country’s push toward a knowledge- and research-based economy depends on the people working in rural factories, Foreign Minister Péter Szijjártó said on Wednesday, announcing a new U.S.-backed R&D investment in Debrecen, eastern Hungary.
The minister said at the announcement of Emerson NI’s investment that the American company is implementing a research and development project worth approximately 745 million forints (2 million euros), aimed at the technological renewal of testing and control systems. The government is providing 112 million forints (300,000 euros) in support, thereby helping to create fourteen new highly skilled jobs.
In his speech, he thanked the company and its employees for increasingly emphasizing the Debrecen site not only in manufacturing but also in research and development, giving it growing strategic importance.
He noted that
within a single month this is already the seventh American investment announced in Hungary, which, in his words, shows that the momentum has continued this year following last year’s record figures.
He also noted that Debrecen has clearly become one of the major provincial strongholds of the Hungarian economy and the economic center of Eastern Hungary, where 101 investments have been realized over the past ten years with government support.
“These investments represent a total value of 4,600 billion forints (12 billion euros) and have created 33,000 jobs in Debrecen. There is no other Hungarian city outside Budapest where so many developments and jobs have been created over the past ten years,” he said.
Péter Szijjártó. Photo: MTI/Czeglédi Zsolt
Péter Szijjártó stressed that over the past decade and a half, many large-scale manufacturing investments—significant even by European standards—have come to Hungary. Through these, the companies involved have gained such positive experiences that they have begun relocating their higher value-added functions, as well as more technologically advanced service and R&D activities, to the country.
“In doing so, they create opportunities for young, talented, multilingual, highly educated workers to build international corporate careers at home. And this does not work in reverse. It is somewhat like a triangle: if it stands on its base, it is stable; if it stands on its tip, it falls over. In other words, a knowledge-based economy cannot exist without knowledge acquired through production,” he continued. “And as people from rural areas, we believe we are justified in objecting when billionaires from Budapest look down on those working in rural factories by calling them mere assembly plants, or when they fail to recognize that many of the products assembled in these plants are also used by them in their everyday lives,” he said.
He also welcomed the fact that last year brought a record in Hungary in terms of research and development investments.
Never before have so many R&D investments been made in Hungary in a single year as last year. Companies invested 230 billion forints (608 million euros) in R&D functions, and the number of global corporate centers operating in Hungary doubled last year, where the average age is 34.5,”
he highlighted.
“I believe that together—the actors of the economy and political life—we can rightly be proud of the performance that the economy has delivered over the past decade and a half, despite the European and global security environment,” he stated.
“After all, one million new jobs have been created in a country of ten million people. We have become one of the European flagships of the modern automotive industry and the global electronics industry, and the past four years—despite being spent in the shadow of a war next door—have been the four most successful years in the history of the Hungarian national economy in terms of investment,” he added.
Via MTI, Featured image: MTI/Czeglédi Zsolt
The post U.S. Company to Launch Multi-Million-Forint R&D Project in Debrecen appeared first on Hungary Today.
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