Szijjarto: IBM to invest HUF 3.5 bn in IT centre development

Information technology giant IBM is starting a 3.5 billion forint (EUR 9.7m) development of its IT centre in Szekesfehervar, in central Hungary, Peter Szijjarto, the minister of foreign affairs and trade, told a press conference on Monday. The government is supporting the investment, which will create 300 jobs, with a 1 billion forint grant, he said. Service centres like IBM are key to providing jobs for well-trained young workers, and to building a research and development-based economy, Szijjarto said. IBM's headcount in Hungary is almost 6,000, while US companies employ 105,000 in total, Szijjarto noted. Investments during the coronavirus pandemic are key to keeping the Hungarian economy robust so it withstands the crisis, as it did in 2008, Szijjarto said.