Hungarian minister meets Electrolux, Ericsson heads in Stockholm

Swedish investments are bringing future technologies to Hungary while contributing to the country’s long-term growth, Péter Szijjártó, the minister of foreign affairs and trade, said after meeting executives of Electrolux AB and Ericsson in Stockholm on Tuesday.

The 170 Swedish companies currently employing over 150,000 people in Hungary are important players in the transformation of its economy, and their cutting-edge technologies are an important factor in its future success, he said.

“Hungary’s government has created a friendly tax environment, and it supports investments that attract investments with high value-added, cutting-edge technologies, and large R and D content to Hungary,” he said.

Electrolux, which has been present in Hungary for thirty years, is embarking on its largest investment yet in Nyíregyháza, in eastern Hungary, where a 35 billion forint (EUR 98m) development will create a plant manufacturing smart fridges, he said.

Ericsson is developing a 6G network with the help of its engineering team in Hungary, and continues to bring R+D capacities to the country, he said.

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