articleimg-1
Jun 23, 2020

Hungary launches export protection program

The foreign minister said the government has decided to launch an export protection program within its economy protection action plan, using a budget of HUF 25 billion.

 

The foreign minister said the government has decided to launch an export protection program within its economy protection action plan, using a budget of HUF 25 billion (EUR 72.1m).

Péter Szijjártó, Minister of Foreign Affairs and Trade, said that out of the grand total, HUF 23 billion will be available to large companies planning to make investments “at any distant point in the world”, while small companies could benefit from grants of up to HUF 50 million from the remaining 2 billion, to help access to export markets.

The minister said the scheme complements an export promotion program, financed from a budget of another HUF 25 billion forints and launched last Friday, aimed at assisting companies investing in neighboring countries.

Minister Szijjártó spoke at a ceremony where representatives of eight companies (Alpha-Vet, Bábolna Tetra, Hell Energy, HungaroControl, Ilcsi Szépítő Füvek, Meditop, Silveria Elektronikai and Tungsram Operations) signed agreements to join the government program.