“Hungary is recommending that the European Union simplify regulations on the state promotion of investment, in the interests of successful economic defence against the coronavirus pandemic”, Minister of Foreign Affairs and Trade Péter Szijjártó said in a video message posted to his Facebook page on Thursday.

In the interview for public media, Mr. Szijjártó emphasised: “We are preparing the largest and most important economy boosting action plan in the history of the Hungarian economy”.

The Minister said he had held talks on the subject on Thursday morning with EU Commissioner for Budget and Administration Johannes Hahn. “European Union regulations relating to the state promotion of investments are extremely strict”, he added. “Hungary is asking the European Union to allow nations and member states to freely promote investment, and to thereby support them in the best possible handling of the economic consequences of the coronavirus pandemic”, he stated.

In a statement to public media following the meeting, Mr. Szijjártó declared: “One of the most important front lines in protecting against the pandemic runs parallel to the economy”. “The coronavirus pandemic is endangering jobs and the country’s economic growth”, he added. “For this reason, we must also protect against the virus within the field of the economy, we must protect the economic results that we have achieved in recent years, and must protect Hungarian workplaces”, he stated.

“We will be able to protect these results through investments”, the Minister said. “It is important for Hungary to maintain the competitive advantage that it has acquired in recent years”, said Mr. Szijjártó, adding that it is also important for Hungary to remain the most attractive investment destination within the Central European region. “This requires the further promotion of investment, and it is in this spirit that we are drawing up the largest and most important economy boosting action plan in the history of the Hungarian economy”, he stated.

(Ministry of Foreign Affairs and Trade / MTI)