Domestically-owned high-tech manufacturer announces R&D development, investing in two cities

The announcement of Lightware's latest investment was held in the capital on Friday, when it was announced that the Hungarian audiovisual products company

• will expand its research and development centre in Budapest,
• And in Szeged, he is setting up an engineering service centre,

thereby creating 43 new jobs for development engineers with tertiary qualifications.

Speaking at the event, Minister of Foreign Affairs and Trade Péter Szijjártó said:

The government is supporting this nine-billion-forint investment, which has a very high added value and will also help to change the dimension of the economy, with a budget of 2.4 billion forints. The Hungarian-owned company, which was started by two university students, is among the suppliers of Google, Facebook, Netflix and Microsoft.

Hungarian development base produces almost exclusively for export

The company, which derives almost all of its revenue from export markets, has always been keen to keep its development activities in Hungary, with more than 300 of its approximately 400 employees working in the country, and this number is now growing.

The Minister stressed that the current investment also shows that Hungarian-owned companies can now play a role in changing the dimension of the economy, unlike before.

"We are talking about an investment of importance beyond the Hungarian economy, which is why the government is happy to support a Hungarian company developing a world-class product in Hungary with Hungarian engineers. I think there are very few, if any, investments with a better return than this," he said.