Research and development, bolder entrepreneurial spirit and supportive economic policy are offering a competitive edge for Hungary’s economy, Minister for National Economy Mihály Varga said at the ceremony for presenting the Awards for Successful Enterprises.

We can only be successful if Government objectives coincide with the projections and opportunities of the private sector, he noted. Currently, the biggest challenge lies in improving Hungary’s competitiveness compared to our regional peers and within the EU. This requires, first of all, the more efficient integration of R&D into the economy, he stated, adding that the Government is earmarking substantial domestic and EU funds to develop this field.

Mihály Varga said the unprecedented agreement on wage hikes and the reduction of payroll taxes concluded by the Government and social as well as economic partners for the next six-year period signals that every economic stakeholder is dedicated to improving competitiveness in the country.

The “Investor of the Month” awards went to Horváth Rudolf Intertransport Ltd. and Egis Pharmaceuticals Plc. The 30-year-old transport company is building a new logistics center and has recently purchased 125 new vehicles, creating new jobs. Egis, one of the leading pharmaceuticals companies of the CEE region is about to launch a project of HUF 5.6bn to develop products against illnesses currently without proper cures.

“Naponta” Food Trade Ltd and Renner Bt were awarded the “SME of the Month” title. “Naponta”, producer and trader of muesli, muesli bars, breakfast cereals and pasta products, has embarked on research and product development aimed revitalizing their Cerbona product line. Renner Bt manufactures rubber products, such as anti-vibration devices, motion controls and shock absorbers, which are used by the industrial, agricultural, construction and transport sectors.

The team of Sybrillo and LeoPoly Ltd received the “Startup of the Month” awards. Sybrillo’s first product is a video accessory used with GoPro cameras. LeoPoly is a software developer specializing in customized 3D printing solutions.

(Ministry for National Economy)