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French pharmaceutical company Sanofi has inaugurated its global competence centre in Budapest. The ceremony was attended by Minister of Foreign Affairs and Trade Péter Szijjártó. The centre will employ 350 people, providing financial, accounting, HR and payroll services in seven languages, he said. Sanofi now has five sites in Hungary and employs more than 2,000 people in the country, he added. Szijjártó said that thanks to low taxes, a good investment environment and political stability, Hungary was at the forefront of the global competition for investments. Currently 120 business service centres operate in Hungary, employing over 55,000 people, mostly multilingual degree-holders, he said. A total of 14 companies set up service centres in the country in the past 12 months and talks are currently under way with eight large companies about setting up their service centres, he added.