The status of a country achieved in international competition depends on the country’s capability of and willingness for innovation and the adaptation of new solutions – that is, the capacity for rapid progress, Minister for National Economy Mihály Varga said at the ceremony for presenting the Awards for Successful Enterprises. National values, political stability and the country’s economic policy are nowadays all seen as positive competitiveness factors.

It is the Government’s job to assist enterprises with stable growth outlook that are capable of quick adaptation, he pointed out. Hungary’s industrial policy, the related programmes and funding schemes all serve this purpose, he added. Other constructive measures are, for example, the facilitation of the transition to an innovation-driven economy, industrial production and enterprise development in both the domestic and international markets; the creation of favourable business conditions beginning with the reduction of red tape right through to the improvement of the education system – everything that underpins the successful operation of Hungarian enterprises, the Minister stressed.

The Minister drew attention to the fact that, thanks to our economic achievements, the Government has various instruments at its disposal and sufficient funds to contribute to the growth of Hungarian enterprises. Mihály Varga mentioned the supplier development programme, the large enterprise investment support programme and the transformation of the vocational education system as some of the schemes aimed at the qualitative improvement of the determinants of competitiveness required for economic expansion, Mihály Varga said.

The “Investor of the Month” award went to Mapei Ltd, a producer of environmentally friendly building materials and EGLO Hungary Ltd, the manufacturer of decorative interior lighting products. Nordikal Ltd., the maker of top quality aluminium doors and windows, and the software-developer Precognox Ltd were awarded the “SME of the Month” title. In the category “Startup of the Month”, the Minister handed the award to Mindtech Ltd, developer of an app linking the human brain to a computer, and Electromega Ltd, the creator of electric garbage trucks.

The Minister also distinguished two companies which had been selected as winners of the Hungarian round of the European Enterprise Promotion Award 2017: the university incubator programme Startup Campus by Enterprise Hungary Nonprofit Ltd and the project InnoTrade by the Hungarian National Trading House Ltd.

(Ministry for National Economy)