GE Lighting and Oracle Corp. have announced to strengthen their operations in Hungary, catering for the government's goal to boost employment.
For GE Lighting, it is to launch an LED development laboratory, reorganizing engineers from other Hungarian operations, while Oracle will set up an 'Applications Lab' in Hungary, increasing the current number of employees, which is 200, by 10%, and is looking to increase this.
Csaba Remenyi, managing director of Oracle Hungary said, "This is not brain drain; we export knowledge but brains themselves remain here in Hungary."
Hungary's ailing economy is desperate for a rise in the employment rate after the country was hit hard by the economic crisis and is slowly emerging from that. The average unemployment rate from June to August was 10.4%. To counter this effect, the government has pledged to cooperate with manufacturers as well as research and development firms. The government isn't providing any financial backing for these developments but its program focuses on maintaining a favorable relationship with experts in the education field.
