ADVERTISEMENT

Hungary to partner with Huawei on 5G rollout

Science

Photo by Martina Badini/Shutterstock.com

Hungary will cooperate with Chinese telecommunications giant Huawei to build its 5G network, Minister of Foreign Affairs and Trade Péter Szijjártó said at the second Hongqiao International Economic Forum in Shanghai on Tuesday, state news wire MTI reports.

Szijjártó said Hungary does not discriminate based on the nationality of companies. Compliance with local laws and regulations is the only condition for becoming a business partner with Hungary, he added.

He said Huawei will work with Vodafone and Deutsche Telekom on the 5G rollout.

Hungary is at the forefront of digitalization among European Union member states, and the Hungarian government has placed a great emphasis on developing e-commerce, which opens doors to SMEs while cutting costs, Szijjártó said.

Hungaryʼs tax rates - the lowest in the EU - along with various preferences and subsidies, attract foreign investors who bring with them new technologies that support digitalization, the shift to industry 4.0 and the development of the internet of things, he added.

Hungary was the guest of honor at last yearʼs CIIE.

ÁKK Sells HUF 82.5 bln of Bonds at Auction, Above Plan Debt

ÁKK Sells HUF 82.5 bln of Bonds at Auction, Above Plan

EC Puts Hungary 2024 GDP Growth at 2.4% EU

EC Puts Hungary 2024 GDP Growth at 2.4%

Bosch Revenue in Hungary Little Changed in 2023 Manufacturing

Bosch Revenue in Hungary Little Changed in 2023

Marcelito Pomoy to Perform in Budapest Next Week Music

Marcelito Pomoy to Perform in Budapest Next Week

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.