Labor & Education

Hungary focuses on its universities to stay competitive

Hungary's competitiveness and its future depend largely on its universities and the availability of qualified professionals.

Minister of Foreign Affairs and Trade Péter Szijjártó spoke at the inauguration of the incubation and accommodation building of Széchenyi István University in the ZalaZone Science and Innovation Park, next to Europe’s largest automotive test track.

In his speech, he said that in times of crisis, there is fierce competition between countries to attract the most investment. A crucial factor in this competition is the tax rate, and Hungary has the lowest corporate tax rate on the continent at 9 percent. Also, a predictable and stable political environment, which Hungary has had in place for more than a decade, is also important, and the country’s infrastructure is improving.

The quality of human resources, where the skilled professionals needed for advanced industries are available, is increasingly determining competition as well, he added. 

The cooperation between Bosch and Széchenyi István University is a good example of the link between the economy and higher education, the minister said.

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