Hungary set to become regional defence industry hub in manufacturing, R+D

The government considers it a priority goal of its national and economic strategy that Hungary should become a decisive defence industry hub for central Europe in terms of manufacturing and research and development, an official of the ministry of technology and industry said on Wednesday.

Zsolt Kutnyaszky told the press at an event presenting Rheinmetall’s plant and elements of its off-road test track in Zalaegerszeg that the strategic goal is for the Hungarian Army to possess the means that guarantee self-sufficiency. The high-tech defence industry should generate an annual turnover of at least HUF 500 billion (EUR 1.2 billion) next year and have significant research, development and innovation capabilities, he added.

• Read also: Trade union: shops should close on Sunday afternoons in Hungary

National security and economic interests justify the manufacturing of as much strategic equipment within Hungary as possible, he said. Increased capacities will reduce dependence on external suppliers which limits national autonomy, he added. The state acting as an investor can then acquire the most up-to-date equipment and technology under preferential conditions, Kutnyaszky said.

Read alsoBreaking: EUR/HUF 410, USD/HUF 400, new historical lows – UPDATE

Source: MTI