Siemens Hungary President-CEO Dale A. Martin (left) and Minister for National Economy Mihály Varga | Ministry for National Economy

Siemens joins govn't supplier program

October 9, 2017

Siemens Ltd, the Hungarian subsidiary of Europe's largest industrial manufacturing company, has joined the working group of the National Supplier Program, the Hungarian Minister for National Economy Mihály Varga said at the signing of a letter of intent.

"We must work to enable every economic stakeholder in Hungary to adopt and use future technologies," the Minister stressed.

The Siemens Group is one of the largest German investors in Hungary, which has been present in Hungary for 130 years, since 1887, the Minister pointed out. Hungary highly appreciates the fact that the company has been contributing to efforts aimed at raising the Hungarian economy’s competitiveness in almost every sector, he noted. This process is aptly reflected in the increasing number of completed development and R&D projects, university partnerships as well as in the high number of Hungarian suppliers.

A press release by the Ministry of National Economy quotes the Minister as saying that the program (which Siemens is joining) is designed to assist domestic enterprises obtain knowledge that enables them to join international value chains as suppliers. On the other hand, he added, enterprises already operating as suppliers are helped to do better quality work. The economy’s rapid transformation requires cooperation between the Government and enterprises, and in these efforts the Siemens Group has been a key partner, Mihály Varga said.

Hungary can only be successful during the ongoing industrial revolution if the entire economy becomes capable of addressing new challenges. Achievements in this field show, however, that we are heading in the right direction, because as of today already four large enterprises – Knorr Bremse, GE Hungary, Bosch and Siemens -- have joined the Government’s supplier development scheme, he stated.

As Siemens Hungary President-CEO Dale A. Martin said, Siemens has not only been a long-time investor in Hungary: the company has also been contributing to Hungary’s economic and social progress. The Group is also aiming to be a predictable, reliable business partner for Hungarian partner companies, and that includes assistance in bolstering the regional positions of Hungarian SMEs, he added.


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