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Electronics Production | January 23, 2006

Hungary seeks US investors

The republic of Hungary has set up an office known as the Hungarian Technology Center (HTEC) in Virginia, US.
The Hungarian government established the HTEC a few years ago. Its mission was to get better access to other international markets and give companies assistance. HTEC is also based in the Hungarian capital of Budapest and Hong Kong, Red Herring reports.

HTEC's office in the United Stated provides a kind of incubation facility where Hungarian companies can set up shop and try to reach the U.S. market.

According to HTEC, Hungary has more Nobel Prize winners per capita than any other country. Wages are low and technical skills are high thanks to many universities.

Flextronics, Ericsson, Siemens, Nokia, Philips and IBM are examples of firms that have set up research and development operations in Hungary.

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