General Electric will join the government‘s supplier support programme under a declaration of intent signed by Mihály Varga, the economy minister, and GE Hungary chairman Joerg Bauer in Budapest on Monday.
After the signing ceremony, Varga told a press conference that small and medium-sized businesses could benefit from joining the supplier network of large companies through increased competitiveness.
The government expects its supplier support programme to allow Hungarian companies to have a bigger share in the production and development of high value-added products, Varga said. The programme is designed to boost the number of local suppliers to multinationals’ Hungarian businesses over the coming years, so that multinationals can build a reliable supplier network here, he added.
Varga said GE Hungary will play an important role in implementing the programme. The company gives special focus to developing digitalisation, Varga said, adding that this could boost Hungary’s competitiveness, as digitalisation is also a key element of the Hungarian government’s economic policy.
Bauer said GE has always had a positive opinion on the Hungarian workforce, its skillset and the company’s relationship with the Hungarian government. This is partly the reason why GE has created some 3,000 jobs in Hungary over the past few years, he added.
US-based GE has been active in Hungary since 1989. It currently has 12 plants in the country and employs 10,000 people.