“The more enterprises realise investment projects, the more realistic it is that the country will be able to rapidly return to its 2019 growth trajectory”, Minister of Foreign Affairs and Trade Péter Szijjártó said on Tuesday in Tolna.

Mr. Szijjártó, who officially presented a certificate to Fastron Hungária Ltd. for the funding it has been awarded within the framework of the competitiveness-increasing program, added: “806 Hungarian enterprises are realising 377 billion forints (EUR 1.06 billion) in investment as a result of the program, towards which the government is providing 169 billion forints (EUR 475.3 million) in funding, which is contributing to the preservation of 143,619 workplaces”. “Hungary has successfully brought to a close the first phase of healthcare protection against the coronavirus”, he emphasised. “One of the important targets of economic protection is that we create at least as many jobs as are being taken away by the crisis”, he stated. “In order for the Hungarian economy to be successful again, the work of the Hungarian people is required, not loans that lead to vulnerability”, he emphasised. “The whole Hungarian nation owes a debt of gratitude to enterprises that are investing and not downsizing amid the current challenges; this is what is required to enable them to overtake their regional competitors and acquire further markets”, he pointed out.

The Minister also spoke about the fact that Hungary is ranked in 92nd place globally with relation to its population, but the Hungarian economy boasts the 34th largest export performance with over 100 billion euros in annual exports. He told reporters that the 564-billion-forint (EUR 1.59 million) investment being realised by Fastron Limited, which produces mainly for export and manufactures automotive industry and other high-added-value electronics products, is receiving 282 million forints (EUR 793,000) in state funding, with the help of which the company will  be increasing its capacity, introducing robots and purchasing a new assembly line. The company has undertaken to preserve 217 workplaces. Mr. Szijjártó added that 11 enterprises in Tolna County are realising a total of 5.3 billion forints (EUR 14.9 million) in investment with the help of an additional 2.6 billion forints (EUR 7.31 million) in state funding, which is protecting a total of 1400 workplaces.
Szekszárd’s Member of Parliament István Horváth (Fidesz) reported, amongst others, on the fact that 146 enterprises in the electoral district have been awarded 1 billion 305 thousand (EUR 3.67 million) forints in competitiveness-increasing state funding and wage subsidies, as a result of which the government has contributed to the preservation of 1921 workplaces.

Managing Director Krisztián Kovács told the press that the goal of Fastron Limited is to become the largest employer in Tolna County. “The development project is vital to enabling the company to begin from the best possible position in the recommencing competition”, he stated. Co-executive Péter Varga told Hungarian news agency MTI that the company, which employed 660 people at the beginning of the year, now works with 493 staff. Production was temporarily stopped for two weeks in April and two weeks in May because of the coronavirus pandemic. The company, which manufactures electromechanical parts and mounted components at its two production units, achieved a new turnover of 8.4 billion forints (EUR 23.62 million) in 2018 and had planned to increase that to 9 billion forints (EUR 25.3 million) this year, but is currently expecting to achieve between 7 and 8 billion forints (EUR 19.5 - 22.5 million) in turnover.

(Ministry of Foreign Affairs and Trade/MTI)