Minister for National Economy Mihály Varga presented the “Investor of the Month” award to Poppe+Portthoff Hungária Gépgyártó Ltd; while “Kis” Szerelő és Kereskedő Ltd was awarded the “SME of the Month” title, and in the category of “Startup of the Month” the Minister handed the award to H3Hungary Ltd at a ceremony held in the building of the Ministry for National Economy in Budapest.

In his speech, the Minister pointed out that since August last year he presented awards every month to those laudable enterprises that have achieved remarkable results.

The Ministry aims to call attention to enterprises that play a key role in the country’s economic performance and which, through their achievements, are capable not only of contributing to GDP growth, but also of acting as role models, Mihály Varga stressed.

Speaking about economic processes the Minister said that the past months have been favourable. Moody’s, the usually very critical credit rating agency, revised Hungary’s credit rating outlook from negative to stable. He also stressed that in September industrial output growth was 7.6 percent and this has been the thirteenth consecutive month of output expansion.

Hungary’s state budget posted surpluses in September and October, which have been “unprecedented in living memory”, as Mihály Varga put it, adding that good economic performance has been making its effect felt in fiscal processes.

As far as next year’s budget is concerned, the Minister emphasised that the Government is and will be focusing on improving employment and competitiveness.

“Investor of the Month” awardee, Poppe+Portthoff Hungária Gépgyártó Ltd, is a company with headquarters in Ajka which provides the car industry with self-developed common rail sub-systems and high-pressure diesel injection tubes. The enterprise has been a supplier of respected car manufacturers. Due to increasing market demands, they have launched an investment project valued at some HUF 6bn in Ajka, through which production capacity and product range could be expanded and the number of jobs increased by 50. The factory currently has 420 employees.

The Sajóbábony-based (Northern Hungary) "Kis" Szerelő és Kereskedő Ltd was presented the “SME of the Month” award. The company was founded in 1990 with six employees as an enterprise for general maintenance and installation of technologies. They have since then developed some in-house technologies as well. The company provides a living for more than twenty engineers and 116 semi-skilled workers.

In October 2014, the “Startup of the Month” was H3Hungary Ltd, an enterprise established by career-starters last year which produces in- and out-door calisthenics equipment. Since the company was founded, it has sold equipment worth some EUR 90 thousand, of which 60 percent was exported. The enterprise has fitted several public parks with its products, but it has got orders from private persons as well.

(Ministry for National Economy)