In the competition fought for investments, the development of a digital environment will be the most important factor, while technological projects and investments will play a key role in keeping highly qualified university graduates at home, Minister of Foreign Affairs and Trade Péter Szijjártó said on Tuesday in Budapest, at his press conference where he announced the project of the software development company Cloudera.
He stressed that technological development had accelerated to an unprecedented degree, and therefore decision-makers are required to keep track of the process commonly referred to as digital revolution. The Minister highlighted that the US firm Cloudera specialising in data analysis is extending its office in Hungary as part of an investment worth HUF 3 billion, thereby creating its second largest development centre in the world. Thanks to this investment, the floor space of the Budapest office will increase by 1,100 square metres and 250 new jobs will be created by the end of 2019. With regard to this, the government is providing an additional HUF 605 million for the enlargement project, he added.
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He highlighted that Cloudera’s expansion project is being implemented through a Hungarian university cooperation scheme, and the government looks upon software companies relying on young people for their work force as strategic economic players. Mr Szijjártó described Hungary’s economic cooperation with the United States as a success story, indicating that some 1,700 US companies provide jobs for more than 100,000 people in Hungary.
Tom Reilly, Chief Executive Officer of Cloudera pointed out that, according to a US business magazine, the world economy is no longer determined by oil, but by technological expertise. He added that everyday devices connected to the world wide web generate enormous amounts of data, and by analysing that data mass it is possible to recognise new market needs and to create services that had not existed before.
Áron Sógor, Director of Cloudera Hungary stressed that it is increasingly worthwhile to invest in Hungary, and expressed hope that the office to be expanded will train the leaders of technological development. He described the development project as a milestone in the company’s history, adding that Cloudera lays a great deal of emphasis on finding and fostering talent.
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Member of Parliament (KDNP) István Hollik said the government would like to achieve that investors coming to Hungary see it as a country of opportunities thanks to its economic and legal environment. The candidate for Member of Parliament said that one of the most important issues of the upcoming parliamentary elections is whether we will manage to preserve the country’s attractiveness as, he said, the future of jobs may depend on investments.
(MTI)
