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

Abstract : 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 Tuesday.

BUDAPEST, Sept. 29 (Xinhua) — 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 Tuesday.

The 8.2-billion-Hungarian-forint (26.3 million U.S. dollars) 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. (1 U.S. dollar = 311.5 Hungarian forints)
Enditem

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

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