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.