Chinese tech giant Lenovo to build manufacturing plant in Hungary: Hungarian minister

Date: 10 Oct 2020

Chinese tech giant Lenovo Group will build a manufacturing facility in Hungary, the country's Minister of Foreign Affairs and Trade Peter Szijjarto said here on 29 Sept.

The 8.2-billion-Hungarian-forint ($26.3 million) plant will be built in Ullo on the outskirts of the capital, with a two-billion-forint government grant, according to Szijjarto.

"The investment will create 1,000 jobs and introduce advanced technological solutions. Production at the plant could start in early 2021," the minister said, adding that the investment would accelerate industrial production based on development, meaning it offers great opportunities for the Hungarian economy and Hungarian engineers.

Szijjarto stressed that Lenovo's decision confirmed that leading technology companies trusted Hungary and justified the country's "Eastern Opening" policy, underlining that global competition for Chinese investment was fierce. 

Source: China Daily

Click here to view the original article.

The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting such content (including texts, pictures, photos and diagrams) to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of any content/information (such as texts, pictures, photos and diagrams that infringe on any copyright) received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer for more details.