“The 806 enterprises that are making use of competitiveness-increasing funding have undertaken to realise 377 billion forints (EUR 1.09 billion) in investment over the coming months, and by doing so are protecting 143,618 workplaces, towards which the government is providing 169 billion forints (EUR 487.3 million) in funding”, Minister of Foreign Affairs and Trade Péter Szijjártó emphasised in Székesfehérvár at a ceremony to present the related funding agreement to Fehér Ablak Limited on Monday.

Mr. Szijjártó highlighted the unique nature of the funding, which clearly indicates that the efforts of the past ten years have achieved results, and that it is no accident that the Hungarian economy is one of the fastest growing economies in Europe and that Hungary is the most attractive target for investment in Central Europe.

Amongst others, the Minister said that the Hungarian economy will once again be successful and one of the winners of the recovery following the crisis caused by the coronavirus epidemic not based on international credit, but on the work of the Hungarian people. According to Mr. Szijjártó, in such a situation it is courageous enterprises that realise investments, and accordingly it is support for investment projects that is currently at the focus of Hungarian economy policy and economy protection.

According to the Minister, it is no accident that the first funding certificate was presented in Székesfehérvár in view of the fact that in recent years the government has always been able to count on the city and on Fejér County when it comes to economic development. “Fejér County has the highest pro rata economic performance in the country following Budapest and Győr-Moson-Sopron County, while the rate of unemployment has fallen from 11.4 percent to 1.6 percent over the past ten years, and industrial production has increased by over 50 percent”, he added.

Mr. Szijjártó said 49 Fejér County enterprises are receiving 11 billion forints (EUR 31.7 million) in competitiveness-increasing funding, realising a total of 24.5 billion forints (EUR 70.6 million) in investment, which is providing the opportunity to protect 7500 workplaces. In Székesfehérvár, 29 enterprises are realising 15 billion forints (EUR 43.2 million) in investment with the help of 7 billion forints (EUR 20.2 million) in state funding, with which they are protecting 3500 jobs.

The Minister told the press that Fehér Ablak Limited, one of the country’s largest manufacturers of external doors and windows, is launching a 455-million-forint (EUR 1.31 million) investment project using the 227 billion forints (EUR 655 thousand) in state funding, with which it is protecting the workplaces of its 94 employees. “The machinery being procured by the company and the development projects it is realising will assure that the company will start from a better position than its rivals when the economic competition recommences”, he stated.

The region’s Member of Parliament Tamás Vargha (Fidesz) praised the fact that the Ministry had recognised that in addition to protecting health, it must also concentrate on what life will be like following the first phase of protecting against the global pandemic. He said that in his opinion enterprises must take the initiative and take action, and the competitiveness-increasing funding is encouraging companies to take action in their own interests with the help of the program.

Managing Director of Fehér Ablak Limited Péter Sipos pointed out that the company was in a similar situation during the 2008 economic crisis, and at the time had also decided to invest in the future. He said that in his opinion at such times it is expedient to realise development and to prepare for the economic upturn to ensure that the favourable period can be exploited well and efficiently. With relation to the investment project, Mr. Sipos said the company will be realising an energy development project within the framework of which the central office and three production halls will be fitted with solar panels, in addition to which it will be purchasing a high-performance truck for shipping finished goods, as well as fork lift trucks and various other pieces of handling equipment. The company will also be expanding one of its production halls in Székesfehérvár, for which it will be purchasing a machining centre, cutting and welding machinery, and several other pieces of smaller equipment.

(MTI/Cabinet Office of the Prime Minister)