Shenzhen Technological Giants to Invest in Hungary
Huawei Technologies have agreed to place a logistics center in Hungary. In an agreement signed by Huawei and the Hungarian department, the deal will involve an investment of US$ 1.5 billion dollars. Huawei is currently the biggest Chinese company in terms of investment volume in Europe.
The deal is part of cooperative agreements from both countries that will also cover investments in telecommunications, agriculture, finance and infrastructure. Aside from Huawei Technologies, several companies such as ZTE Corp, China Development Bank and the Chinese Ministry of Commerce have already made deals with the Hungarian government. The agreements were sign and made during Vice Premier Li Keqiang’s visit to Hungary.
ZTE Corp. has already made a deal with the Hungarian government and will be putting up a operating maintenance center that will target consumers across Europe. ZTE recently finished the first phase of their investment and currently employing 40 local people and is planning to recruit more locals in the next three years.