At the inauguration of the Bosch Rexroth Innovation Experience Center (Bosch CU.BE – Customer Benefits) in Budapest on Wednesday, Minister for Economic Development Márton Nagy emphasised that the backbone of the Hungarian economy is the strong presence of high-tech industries.
He noted that advanced technology plays a significant role in the growth of the Hungarian industry. According to research by the International Monetary Fund (IMF), high-tech industries account for 70 per cent of the Hungarian economy, surpassing almost every developed country. He added that Hungary ranks 14th in the world in terms of complex exports, and within the manufacturing sector, the proportion of high-tech exports is exceptionally high.
The minister described Hungary’s achievements in technology and knowledge transfer as remarkable. According to the Global Innovation Index,
Hungary ranks 7th in terms of the utilisation of knowledge in the local economy.
Speaking about the active role of Hungarian industrial policy in lending and investment incentives, Márton Nagy mentioned that over 4.7 million people work in Hungary, and a significant proportion of them are skilled workers. Foreign investments reached a record level in Hungary in 2022, and in 2023, foreign capital inflow could reach up to 4 trillion forints, he added.
He noted that according to the Savills Nearshoring Index, Hungary was the second most attractive investment destination in the European Union in 2020.
Márton Nagy reminded that the Bosch Group is a strategic partner of the Hungarian government and emphasised that the company’s presence in Hungary has contributed to the country becoming a development centre. The minister stated that
Bosch is a good example of how a family business can become a competitive international corporation.
Regional Sales Manager responsible for Bosch Rexroth in Eastern Europe and the Middle East Thomas Ilkow emphasised the importance of innovation during the opening ceremony. He pointed out that the innovative experience centre in Budapest facilitates the realisation of creativity, cooperation, and networking.
Regional President for Bosch Hungary and the Adriatic region István Szászi stated that the company is building an ecosystem where it can work together with industrial partners, participants from higher education, universities, and research centres to ensure that future technologies are integrated into everyday life as soon as possible. CU.BE is one unique venue for this work.
Managing Director of Bosch Rexroth Ltd István Ács stated that with the innovative experience centre, an open space has been created where all players in the industry are welcome for collective thinking and exchange of ideas about the future of industrial technology. CU.BE showcases the achievements of industrial digitalisation, making the functioning of modern manufacturing and the directions of development tangible.
As one of the leading suppliers of drive and control technology, Bosch Rexroth offers solutions in the fields of hydraulics, electric drives and controls, gearing technology, and linear motion and assembly technology worldwide. The company has locations in over 80 countries, employs more than 32,000 people, and achieved a turnover of 7 billion euros in 2022. Bosch has been present in Hungary with its products since 1898, and the regional trading company, re-established in 1991, has now become a significant business group. In the financial year 2022, the total net sales reached 2.255 trillion Hungarian forints, with 314 billion forints coming from sales outside the Bosch Group on the Hungarian market. The Bosch Group in Hungary employs over 18,300 people.
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