The foreign minister has announced that the government is launching a HUF 30 billion (EUR 83.6m) investment support scheme to help large companies upgrade and expand production.
Péter Szijjártó, Minister of Foreign Affairs and Trade, said on Facebook that eligible sectors include battery and pharmaceutical production, manufacturing of medical equipment, and the food industry. Companies intending to invest at least 2 million euros will be eligible to apply for funding coming to 20-33 percent of the investment value, depending on the development level of the county they are located in.
The minister added that under European Commission regulations, the funding cannot exceed 1.8 million euros. Companies involved must pledge to retain all their workers and raise their wages, as well as investing in cutting-edge technologies to increase value-added and to prioritize research and development.
Minister Szijjártó noted that the government’s investment scheme for large companies has so far drawn in 1,434 companies and preserved some 270,000 jobs.