articleimg-1
Jul 30, 2020

FM: Investment is key to Hungary's competitiveness

The foreign minister said Hungarian companies have recognized that investment gives them the opportunity to gain a competitive edge over their regional and international peers.

 

The foreign minister said Hungarian companies have recognized that investment gives them the opportunity to gain a competitive edge over their regional and international peers.

Speaking on the sidelines of a government meeting, Péter Szijjártó said 806 medium-sized companies have already applied for a total of HUF 169 billion (EUR 487.3m) in government support to undertake HUF 377 billion worth of investments. A total of 491 companies have already received HUF 113 billion. He said eight large companies have also registered their intent to invest HUF 60 billion in total.

According to MTI, the minister said the government’s scheme to support companies in expanding abroad has received 14 applications for a total of HUF 18 billion in export support. Meanwhile, 397 Hungarian companies have applied for support for investments in ethnic Hungarian regions abroad, with the investments totalling HUF 21 billion.

Minister Szijjártó said the investments undertaken by Hungarian businesses will also allow them to expand into new markets, adding that the government would provide these companies with all the support they need.

Photo credit: 24.hu