China's Fiberhome to produce optical cables in Hungary

China's Fiberhome is to set up its largest European base in Hungary, where it will manufacture optical fibre cables, Minister of Foreign Affairs and Trade Péter Szijjártó announced in Beijing on Wednesday.

The company will manufacture optical cables in the town of Kisbér, he said. The project is valued at eight billion forints, with the state funding 15 percent of the cost, thus contributing to the creation of around 150 new jobs in the town.

"Today, Chinese companies are amongst the leaders in the global market, even in sectors requiring the most modern and sophisticated technological solutions," the Foreign Minister said.

Szijjártó added that the company has already indicated that it will pursue further investments in Hungary if the demand for optical cables continues to grow and there is a need for further expansion of its manufacturing capacity.

"It is thus very good news that Chinese companies continue to see Hungary as their number one investment destination in Central Europe, and the trend of Chinese companies contributing to the growth of the Hungarian economy looks to remain stable in the future," he said.