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Hong Kong-based technology firm Lenovo Group will build a $26.3 million manufacturing facility in Hungary create 1,000 jobs and introduce advanced technological solutions, says the country's Minister of Foreign Affairs and Trade Peter Szijjarto.
The investment was supported by a $6.4 million Hungarian government grant.
The plant, which will rise in Ullo on the outskirts of Budapest, could start producing desktops, data center products, and workstations by early 2021.
The minister noted that the investment would accelerate industrial production and offer great opportunities for Hungary's economy and its engineers.
Szijjarto stressed that investment confirmed that leading technology companies trusted Hungary.
He added that global competition for Lenovo's investment was fierce.
Lenovo's presence in Hungary is currently based solely on trade, utilizing a workforce of 80.
