Only innovative policies can lead Hungary out of the crisis, Prime Minister Viktor Orbán said at the opening of GE's global business service centre in Budapest on Tuesday.

The Prime Minister called cooperation between General Electrics and Hungary a success story which is helped significantly by talent, commitment and dedication of the company's Hungarian employees.

The Hungarian economy is stable at a macroeconomic level and data for the last quarter of 2013 shows that it has been growing at the fastest rate within the Central European region, he added.

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GE is the largest US investor in Hungary, employing more than 13,000 people. In 2012, GE had 2,000 Hungarian suppliers, which accounted for 65 percent of all its suppliers.

The new service centre will create 1,300 new jobs over the next few years. It will use cutting-edge technology to offer integrated business services to GE divisions both in Europe and outside the continent. Joerg Bauer, Managing Director of GE Hungary, confirmed that the new centre has already signed on the first 200 people to its staff.

Ferdinando Beccalli-Falco, President and CEO of GE Europe, added that GE plans to continue to invest in the region and that Hungary's primary appeal is its well-trained workforce.

GE has been present in Hungary since the end of 1989, when it purchased a majority stake in light bulb manufacturer Tungsram; since then, it has expanded all its divisions in Hungary. It operates 12 factories in Hungary as well as three regional business centres and three R+D units.

In 2011, the Hungarian Government signed a strategic cooperation agreement with the company.

(Prime Minister's Office)