Finland’s Nokia is investing 3 billion forints (EUR 9.8m) at its research and development centre in Budapest, State Secretary for Foreign Affairs and External Economic Relations Péter Szijjártó and Nokia Networks Managing Director Róbert Ésik announced on Wednesday.

As a result of the investment, 150 new jobs will be created, increasing the number of Nokia’s local employees to 1400, the Hungarian State Secretary emphasised, adding that the Hungarian Government is supporting the investment with a 211 million forint grant. He recalled that in 2010 the Government set the goal of transforming Hungary into Europe’s production centre, pointing out that the strategy can be considered a success, since more and more manufacturers invest in Hungary.

Mr Ésik stated that Nokia decided to expand its business in Hungary because the country offers a number of well-trained and creative engineers and competitive price levels. The company also promised to keep the new jobs for at least five years, he added, emphasising that Budapest is one of Nokia’s biggest global technology centres, and its role will be strengthened in future.

(Prime Minister's Office)