Companies operating in Hungary can build their success on Hungary’s economic environment, which has been offering an increasing number of opportunities, and the support of the Government, Minister for National Economy Mihály Varga said at the ceremony for presenting the Awards for Successful Enterprises in Budapest.
Despite somewhat modest data in the first quarter but having received positive results from April and May, the Government continues to expect annual GDP growth of 2.5 percent, he added.
The Government considers it a key task to provide work for every Hungarian jobseeker, and these are also assisted through re-training and vocational training schemes. The structure of the labour market, however, concerning certain sectors, is not capable of quickly adjusting to economic processes, Mihály Varga pointed out. In order to address so-called structural unemployment, the Government is working on a programme addressing short-term, transitory issues.
The Minister stressed that the EU must face up to the consequences of Brexit. The EU can be bolstered through competitive and sovereign national economies, he stated.
Mihály Varga called the work which the Government has completed in terms of employment one of the success stories of the domestic economy. It is a huge achievement, he said, that the unemployment rate has fallen from some 12 percent to 5.5 percent.
The history of the Awards established in 2013 also shows a strengthening economy. About one hundreds companies have hitherto received the distinction, he said. While at the beginning it was widely questioned whether there were enough successful enterprises which would live up to strict professional and financial expectations, it has turned out that the increasing number of prosperous companies is indeed a guarantee of the Hungarian economy’s success.
At today’s event, six companies received the Awards. Companies which have won the national round or a special distinction of the European Enterprise Promotion Award also participated at the event.
The “Investor of the Month” award went to explosives producer Ruag Ammotec Hungary Plc. and car components manufacturer Delphi Connection Systems Hungary Ltd.
Borsodi Műhely Fémmegmunkáló Ltd, a producer of custom-made metal components, and Inwatech Ltd, developer of modern environmental technologies, were awarded the “SME of the Month” title.
Móra-Bookr Kids Ltd. and Notch Interfaces Inc. received the “Startup of the Month” award: the former is maker of smart phone applications for children and the latter designs and creates personal sensor products.
(Ministry for National Economy)
