“The vitality of Hungary enterprises is indicated by the fact that they have assessed that if they decide in favour of investing, increase their capacities, and realise development projects during this difficult period, then they will be able to overtake their international rivals”, Minister of Foreign Affairs and Trade Péter Szijjártó told reporters in the recess of Wednesday’s Cabinet meeting.

Mr. Szijjártó added that enterprises will also be able to acquire new markets thanks to their investments. The Minister highlighted the fact that the Hungarian government is providing all possible support to Hungarian enterprises in the interests of achieving this, of whom hundreds have also indicated that they would like to make use of the opportunities provided by the various investment funding programs.

The Minister said that within the field of medium-sized investments, 806 enterprises have applied for a total of 169 billion forints (EUR 487.4 million) in state funding towards the realisation of 377 billion forints (EUR 1.09 billion) in investment. Of these, 113 billion forints (EUR 325.9 million) has already been transferred to 491 enterprises, and the disbursement of the remaining funding is occurring continuously. Within the field of large investments, eight large companies have already indicated that they will be realising 60 billion forints (EUR 173 million) in investments, he added.

Mr. Szijjártó indicated that within the framework of the tender launched last week in the interests of increasing the foreign market share of Hungarian enterprises, 14 Hungarian companies that would like to establish production units abroad have already applied for funding. “These enterprises have applied for a total of 18 billion forints (EUR 51.9 million) in funding towards the development of their export activities. In addition to these, 397 Hungarian enterprises have already indicated that they would like to realise investment projects in cross-border areas that are populated by Hungarians, at a total value of 21 billion forints (EUR 60.5 billion)”, the Minister of Foreign Affairs and Trade told reporters.

(MTI/Cabinet Office of the Prime Minister)