German software company Evosoft invests €8.7 million in a new R&D project in Hungary

The government is focusing on a paradigm change in the Hungarian economy, and on transforming Hungary into the most innovative economy of Europe as swiftly as possible, the minister of foreign affairs and trade said in Budapest on Monday.

Péter Szijjártó announced that German-owned software developer Evosoft is investing 3.4 billion forints (EUR 8.7m) into a new R and D project developing the effectiveness of installing production lines. The project has received a 682 million forint government grant and will create 75 jobs, 57 of them in Budapest and 18 in Miskolc, in north-east Hungary, a ministry statement quoted Szijjarto as saying.

He said Evosoft, a member of the Siemens Group, operates several R&D facilities in the region, and Hungary won the investment amid stiff competition.

German companies remain the largest group of investors in Hungary, with some 21 percent of all investments linked to German companies, Szijjártó said. He said that Germany is also Hungary’s largest trading partner, with bilateral trade surpassing 70 billion euros last year.

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