The US technology consulting and development company HTEC Group will create more than six hundred jobs in four Hungarian cities with an investment of HUF 4.7 billion, the Minister of Foreign Affairs and Trade Péter Szijjártó announced in Szeged on Tuesday.
The head of the ministry reported that the company would establish an IT center in Budapest, Szeged, Debrecen, and Pécs. With an investment of HUF 700 million supported by the state, a 120-person unit will be set up in rural locations and a 250-person unit in the capital as planned.
In his speech, he emphasized that the project provides well-educated, language-speaking young people with the opportunity to stay not only in Hungary but also in large rural cities. He also pointed out that these types of investments significantly contribute to the change of dimension of the Hungarian economy.
Péter Szijjártó emphasized that the last twelve years were an age of crises, and all of them brought about the overturning of the status quo of the world economy.
“World economic conditions have fundamentally changed, new global competition has been launched to redistribute capacity, and competition between countries for investment to create high value-added jobs has intensified,”
He then noted that the government had done everything in its power to make Hungary successful in these competitions, so that it had not given up its policy of tax cuts and a work-based society, even in the midst of the worst crises. As a result, last year was a record year for the economy, he said.
Finally, the minister underlined that the value of bilateral trade between the United States and Hungary rose by 21 percent last year to over $ 7 billion, a new high of about $ 4 billion.
He added that American companies form the largest investment community in Hungary outside the European Union, employing 100-105,000 people.