The Hungarian Government provides HUF 700 bn (EUR 2.2 bn) for research, development and innovation in the 2014-2020 EU Financial Framework period, said Deputy State Secretary of the Ministry of Foreign Affairs and Trade Levente Magyar on Friday, in Debrecen.

At the inauguration ceremony of FAG Hungary Industry Ltd’s Schaeffler Academy, the Deputy State Secretary said HUF 50 bn (EUR 160 million) of the budget is to be dedicated to set up 7,000 workshops for students.

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Deputy State Secretary Magyar said that the Schaeffler Academy is one of the leading forces in the motoring industry in Hungary, adding that in 2010, when the Government started the reorganization of the country’s subsystems, higher education and vocational training systems were among the firsts to be reformed. The driving factor of this decision was to ensure the availability of highly qualified workforce for the economy, according to actual needs of the industry. The motoring industry is the flagship of the Government’s reindustrialization programme, producing 22 percent of the country’s export and employing 140,000 people. 

Levente Magyar said that the opening of Schaeffler Academy in Hungary is one of the best examples of government-supported dual vocational training, which contributes greatly to Hungary’s competitive and sustainable development.

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Deputy Mayor of Debrecen László Papp pointed out that after the fall of the socialist regime, local motoring industry almost disappeared, and was eventually saved and further developed by the German Schaeffler Group. Its Hungarian subsidiary, FAG, is now one of the biggest employers in town, providing jobs for 1,400 people and contributing to their training and education. The Deputy Mayor underlined that the company’s strength today does not lie in its buildings or machines, but in its highly-skilled workforce.

Managing Director of FAG Hungary Péter Szabó said that the two-storey Schaeffler Academy was built for HUF 140 million (EUR 450,000) and machinery of HUF 68 million (EUR 220,000) was installed. From September on this year, 30 students will start their vocational training here. Over 100 people have been trained here since 2008, and half of the graduates are still working for the company. The Academy cooperates with several universities and currently provides scholarships for 30 students.

Schaeffler Group, with its 3 main brands INA, LuK, and FAG, generated a turnover of over EUR 11.2 bn in 2013, employing 79,000 people at over 170 sites. The group is the world’s leading supplier of rolling bearings and a respected partner of almost all automotive companies. It is one of the largest family-owned companies in Germany and across Europe.

(Ministry of Foreign Affairs and Trade)