American HTEC Group to establish an IT center in Debrecen

The US-based technology consulting and development company is investing HUF 4.7 billion to create jobs for well-educated young Hungarians with language skills.

Photo credit: https://www.facebook.com/szijjarto.peter.official

Minister of Foreign Affairs and Trade Péter Szijjártó announced that the American HTEC Group will set up IT centers in Budapest, Szeged, Debrecen and Pécs. The state-subsidized investment of HUF 700 million is planned to create a 120-person unit in the provincial locations and a 250-person unit in the capital.

The investment will provide well-educated young people who speak languages with the opportunity in Hungary. The investment contributes significantly to the change of dimension of the Hungarian economy, the minister added.

Szijjártó stressed that “the world economy has fundamentally changed, a new global competition for the redistribution of capacity has begun, and competition between countries for investments that create high value-added jobs has intensified.”

The government has done its utmost to ensure that Hungary can succeed in these competitions. Even during the most severe crises, it has not abandoned its policy of tax cuts and a work-based society. As a result, last year was a record year for the economy, he said.

The value of bilateral trade between the U.S. and Hungary rose by 21 percent to over USD 7 billion in 2021, a new record, and Hungarian exports accounted for some USD 4 billion of this. American companies are the largest investor community in Hungary outside the European Union, providing jobs for 100,000 to 105,000 people, the minister said.