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Hungary's future is in research and development

Hungary's foreign minister said the world has experienced a significant change, nothing is like it used to be and we are living in a new world order

Hungary's future growth lies in the hands of intellectuals who are able to cultivate research and development prospects, according to Hungary's foreign minister.

"The growth of the Hungarian economy must be moved forward into a new phase based on research and development and innovation; we must build on creativity and intellectual capital. These are excellent foundations for the establishment of the next phase of development of the economy," Péter Szijjártó, minister of Foreign Affairs and Trade, has said.

During a two-day science and technology conference, Minister Szijjártó stressed that "this will prepare the economy for a totally new industrial era in which IT and industry will merge," he said, adding that “we must convince investors that Hungary is the best destination for digital and research and development projects."

Szijjártó added that Hungary will continue to base the growth of the Hungarian economy on the automobile industry along with new avenues to be explored.

Szijjártó also spoke about the fact that the world has experienced a significant change, nothing is like it used to be and we are living in a new world order.

“A few years ago, Hungary received criticism for its seemingly very courageous economic policy measures, but it has become clear that these decisions served the goal of enabling Hungary to stand its ground amid the new challenges well, and indeed has become successful," he highlighted.

“A Hungarian model has been established, which proves that it is possible to simultaneously achieve fiscal discipline and economic growth," he added.