Can Hungary be an R and D leader in Europe?

The government aims to make Hungary one of the leading countries in Europe in terms of research and development (R and D), Foreign Minister Péter Szijjártó said on Friday.

Hungary as an R and D leader?

Szijjártó told an event announcing a new investment project by audio-visual products manufacturer Lightware that achieving a change of dimension in the economy required an increase in R and D capacities.

“It is indeed a great achievement that a Hungarian-owned company launched by two university students can be a supplier for the likes os Google, Facebook, Netflix and Microsoft,” he said.

Lightware will expand its research and development hub in Budapest and set up a new engineering service centre in Szeged, in southern Hungary, creating 43 jobs for development engineers.

The government is contributing to the 9 billion forint (EUR 22.8m) development project with 2.4 billion forints of support, Szijjártó said.

He also said that last year’s total spending on R and D in Hungary was 1,032 billion forints, up 12 percent in one year.

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Featured image: illustration, depositphotos.com