"Nokia Siemens Networks is to start talks with the Hungarian government in the following weeks about possibly expanding its Budapest base, Prime Minister Gordon Bajnai told Hungarian newswire MTI in Helsinki.The Premier met several top officials of Finnish companies that either have an interest in Hungary or wanted to know more about investment opportunities in the CEE country.
Bajnai said negotiations about the expansion of the R&D centre of Nokia Siemens in Budapest, where 800 people work presently, will start in the following weeks. The facility is in close co-operation with several Hungarian universities.
Bajnai first visited the telephone equipment maker Nokia group where he met Simion Beresford-Wylie, member of Nokia's Board of Directors and the CEO of Nokia Siemens Networks.
The PM also met the top management of other Finnish companies, including Elcoteq and Sanoma.
The companies represented at the meetings employ more than 15,000 people in their Hungarian businesses. They asked Bajnai to cut red tape further in Hungary.
According to Central Statistics Office (KSH) data, Hungary's exports to Finland amounted to EUR 120.7 m in the first half of the year and imports from the northern country totalled EUR 179.3 m (hence the deficit of EUR 58.6 m in H1 for Hungary). The comparative figures from 2008 are EUR 373.3 m exports, EUR 559 m imports and a trade gap of EUR 185.7 m.
According to Finland's statistics, Finish companies have invested a total of EUR 1 billion in Hungary up to date. "
Source: Portfolio Online Financial Journal
07.09.2009