Finnish firms to set up R&D centers in Hungary

Several Finnish companies are considering setting up research and development centers in Hungary, according to Petri Tuomi-Nikula, Finlandʼs ambassador in Budapest, the Hungarian daily Magyar Hírlap reported.

Finnish companies are continuously seeking opportunities to bring production to Hungary or to enter the market there, Tuomi-Nikula said, adding in an interview.

One of the most important R&D centers of the Finnish telecom giant Nokia is already located in Hungary, employing 1,500 people. Its headcount is expected to rise further, Tuomi-Nikula said.

The ambassador said he expects Finnish companies to play an especially important role in the energy and electromobility sectors in Hungary, adding that Finland’s Pyhäjoki nuclear power plant, which is currently undergoing construction, has the same structure as the planned upgrade of Hungary’s sole nuclear power plant in Paks, which also creates conditions for cooperation.

Finnish companies have invested more than EUR1bn in Hungary to date, news agency MTI noted, adding that among the biggest are Konecranes, Scanfil and Lindström.

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