Péter Szijjártó, Hungarian Minister of Foreign Affairs and Trade, told an audience at the opening day of the 2nd Hongqiao International Economic Forum that Chinese telecommunications giant Huawei will build a fifth-generation (5G) network in Hungary, in cooperation with British Vodafone and Deutsche Telekom.
The minister stated that Hungary will not judge companies based on their country of origin but rather if they can comply with Hungary’s laws and regulations.
Szijjártó said that Hungary is a leader in the field of digitization in the EU and that e-commerce is a priority for the government because it provides small and medium-sized enterprises more development opportunities and reduces their costs. Hungary is on the forefront of this sector because it has been able to attract tech companies with its low tax rates and subsidies and thus is at the center of the latest developments in arenas such as Industry 4.0 and the Internet of Things (IoT).
The Forum is part of the China International Import Expo (CIIE) on Digitalization and E-Commerce. Its theme was “Open Innovation, Cooperation and Win-Win,” and 30 members of the World Trade Organization (WTO) were present at various meetings aimed at promoting innovation and cooperation.
Hungary has been at the expo two times now and is this year a guest of honor. In his speech, FM Szijjártó noted that Hungary and China are celebrating their 70th anniversary of diplomatic relations this year and emphasized Hungary’s pride in being one of the first countries to recognize the People’s Republic of China.