Thursday, Aug 18, 2016. 11:27

Finnish firms eye investment in Hungary

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Several Finnish companies are considering setting up research and development centers in Hungary, Petri Tuomi-Nikula, Finlandʼs ambassador in Budapest, told Hungarian daily Magyar Hírlap in an interview published today.

The ambassador told the paper that Finnish companies are continuously seeking opportunities to bring production to Hungary or to enter the market here. He recalled that one of the most important R&D centers of Finnish telecom giant Nokia is located in Hungary, employing 1,500 people. The headcount is expected to further rise, according to Tuomi-Nikula.

The ambassador said he expects Finnish companies to play an important role in the energy and electromobility sectors in Hungary. He added that Finland’s Pyhäjoki nuclear power plant, which is currently undergoing construction, has the same structure as the planned upgrade of Hungary’s sole nuclear power plant in Paks, which also creates conditions for cooperation.

Tuomi-Nikula added that demand in Finland to make investments in Hungary is strong.

Finnish companies have invested more than €1 bln in Hungary to date, news agency MTI noted, adding that among the biggest are Konecranes, Scanfil and Lindström.

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