Chinese telecommunications giant Huawei will set up a research and development center in Budapest, Minister of Foreign Affairs and Trade Péter Szijjártó said on Tuesday, according to a report by state news wire MTI.
The investment, which will create jobs for at least 100 Hungarian engineers, is Huaweiʼs third in Hungary, Szijjártó said.
Szijjártó said the new R&D center will focus on artificial intelligence, streaming, image processing, and signaling technologies, as well as extremely large distribution systems.
Huawei Technologies Hungary executive manager Cai Lingyu said the company had invested USD 1.5 billion in Hungary since 2005 and it has nearly 2,400 employees now.
Huawei has considered Hungary a key location for the past 15 years because it provides a balanced and open business environment for the company, he said. He added that the company is committed to Hungary and plans to expand its activities in the future, among other things, in the field of university collaborations and adult education.
Huawei Technologies Hungary had revenue of HUF 77 bln in 2019.