Consumer electronics company Cloud Network Technology, a member of the Foxconn group, is planning to invest 5 billion forints (EUR 14.3m) at its base in Komárom, in northwest Hungary, Péter Szijjártó, the minister for foreign affairs and trade, said on Tuesday.
The government will support the investment with a 1 billion forint grant, the minister added. Warehouse capacity will increase by 17,000sqms at the base and headcount will reach 600 as a result of the project.
Over 90 percent of Foxconn’s workers have already received the coronavirus vaccine, which
ensured seamless operations during the lockdown,
Szijjártó said.
Thanks to investments bringing cutting-edge information technology to Hungary, the Hungarian economic development has grown rather than stalled during the pandemic, he said. Other investments have shortened the sector’s supply chain, making Hungary a significant player in the field, he said.
please make a donation here
Hot news
Top Hungary news: new form of crime at BUD, missing Ukrainian girl, parking crisis, Munkácsy, Beijing, Charity Fair – 26 November, 2024
Massive search underway for missing 16-year-old Ukrainian girl – Check out her photo
Budapest’s parking crisis: Growing consensus that the city is no longer drivable
Raising the stakes: Hungary faces growing EU pressure for child protetcion law!
PHOTOS: Iconic sculpture group returns to the astonishing Buda Castle
Minister Szijjártó: Hungary ‘number one’ destination for Chinese investment in Europe
