“We can only contribute to the building of a developing society if we can rely on strong economic fundamentals and successful enterprises,” Minister for National Economy Mihály Varga said at the ceremony for presenting the Awards for Successful Enterprises in the Ministry for National Economy. The Government has always used its own toolkit to stimulate the development of enterprises and help improve competitiveness and market access, he added.

The Government continues to work on boosting the competitiveness of enterprises in each area of economic development, from the tax regime to vocational education. Accordingly, the industrialization programme of the country and tax reductions are to continue. This year, in line with the six-year wage deal, payroll taxes are set to decline further, he noted.

In accordance with the original schedule, the Government launched the Széchenyi Venture Capital Fund and the Irinyi II Venture Capital Fund at the end of August 2017. Besides, and preparations are under way for the establishment of the National IPO Assistance Fund, designed to pave the way for the market launch of the Irinyi I Venture Capital Fund and domestic SMEs on the Budapest Stock Exchange, he pointed out.

The “Investor of the Month” awards went to the manufacturer of aluminium automotive components Hydro Extrusion Hungary Ltd and packaging specialist Edelmann Hungary Packaging Plc. The “SME of the Month” titles were handed over to managers of OptiCost Ltd, a producer of safety systems, and veterinary medical product manufacturer Lavet Pharmaceuticals Ltd. The designer and maker of inclusive playground equipment, MagikMe, and innovator of ergonomic solutions iAXS Motionsystem Kft were selected as “Start-up of the Month” in November and December, respectively.

(Ministry for National Economy)