Hungary will present its 5G strategy as early as this coming October, the country's Innovation and Technology Minister Laszlo Palkovics said at the International Telecommunications Union's (ITU) "Telecom World 2019" conference held here on Tuesday.

He said that Hungary is one of the world leaders in terms of both fixed and mobile internet coverage and access, and now ranks 8th in terms of download speed. "The introduction of 5G will push the country even higher up in this ranking," said Palkovics.

He emphasized that the aim of the Hungarian government is to support the spread of 5G applications in Hungary.

He said that it was important to have the economy connected to 5G as the value of the required investment is huge.

"5G will be used in many areas, such as transport and the health industry," Palkovics said, adding that the state must play a role in building the infrastructure in such a way that it does not distort competition.

Late on Monday, Hungarian President Janos Ader also spoke about the need to introduce 5G services in Hungary.

"Hungary's goal is to implement 5G mobile technology as early as possible, thereby achieving almost unlimited bandwidth," Ader said at the "Telecom World 2019" gala dinner.

The four-day ITU event will run until Thursday.