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GE looks to raise R&D spending in Hungary

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General Electric expects R&D spending to continue to increase this year, Jorg Bauer, the companyʼs country chief, said yesterday on GEʼs blog of its activities in the region, noting that the firm spent almost $25 mln on research and development in Hungary last year, nearly four times the amount of five years earlier.

GE raised its R&D staff in Hungary from 150 to 500 during the period, and it expects to hire even more staff, Bauer said in the blog post. 

"Information technology is perhaps the most important of all fields as it provides an excellent opportunity for Hungary to catch up, or even to gain a competitive edge, given the traditionally high-quality IT education in the country and in the whole CEE region," he said.

"So we have the IT quality but more commitment is needed for Hungary to become the ʼSwitzerland of ITʼ," he added.

GE employs approximately 10,500 people in Hungary, not including staff at Budapest Bank, which it has agreed to sell to the Hungarian state, national news agency MTI reported.

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