“The government is placing Hungarian enterprises into a favourable position through funding investment projects, so that they can enter the competition from the best possible starting position in the new global economic era”, Minister of Foreign Affairs and Trade Péter Szijjártó declared in Budapest at a ceremony to present funding certificates within the framework of the competitiveness program.

Mr. Szijjártó emphasised that economic growth can only come about via performance, and performance is only generated through work, and accordingly the state must primarily support work and workplaces. “In view of the fact that workplaces are not created without investment projects, funding investing enterprises must be placed at the focal point of effective economic policy and effective crisis management”, he explained, adding that the government has been following this economic philosophy since 2010.

“806 enterprises are receiving funding within the framework of the competitiveness-increasing program; these companies have undertaken to realise 377 billion forints (EUR 1.091 billion) in investment, towards which the government is contributing 169 billion forints (EUR 489.5 million) in state funding”, he stated. Mr. Szijjártó also said that in view of the success of the program, the cabinet may soon be coming to a decision on its continuation.

The Minister highlighted the fact that protection against the coronavirus pandemic has reached the end of an important phase and in the upcoming period, in addition to measures aimed at protecting human life and health, the government will be concentrating on the implementation of the Economy Protection Action Plan. “The goal of the Action Plan is to replace all workplaces that have been lost because of the epidemic, and to protect all jobs that are being endangered by the effects of the epidemic”, he reminded those present.

“Hungary has an open economy, and Hungarian etherises are involved in international market competition, and accordingly the negative tendencies of the global economy also have an effect on the Hungarian economy, but we must use these negative developments to our advantage”, the Minister said. As he explained, after 2010 a Hungarian economy that was much weaker than the current one succeeded in turning the global economic challenges to its advantage, and so now that a Hungarian economy that is at full strength is facing similar challenges, there is a much greater chance of success.

Three more companies were ceremoniously presented with their funding certificates at the Ministry of Foreign Affairs and Trade on Friday. Mr. Szijjártó said with relation to the three enterprises that they are realising a total of 1.65 billion forints (EUR 4.78 million) in investment with which they are protecting 754 jobs, towards which the government is providing a total of 808 million forints (EUR 2.34 million) in funding.

The Hungarian state is contributing 282.4 million forints (EUR 818 thousand) towards the 582.4-million-forint (EUR 1.68 million) investment project being realised by LISS Limited. The Repcelak-based gas cartridge manufacturer will be acquiring a special press with the help of the state funding, in the interests of broadening its product line with larger-sized cartridges. The region’s Member of Parliament Péter Ágh (Fidesz) emphasised that the government has already proven its partnership via the funding of major infrastructure and other local development projects. “Liss Limited is particularly important for Vas County. The company is the county’s largest, fully Hungarian owned enterprise and the largest employer within a 20-kilometre area around Repcelak”, he told the press.

VESZ-MONT 2000 Limited will be realising an investment of 506.6 million forints (EUR 1.467 million), towards which it has been awarded 253.3 million forints (EUR 733 thousand) in state funding. The Nemesvámos-based company, which amongst others operates within the automotive industry, will be beginning the construction of a new assembly hall with the help of the funding. The region’s Member of Parliament Péter Ovádi (Fidesz) highlighted: “It is companies like VESZ-MONT 2000 Ltd. that provide the economic environment for the dynamic development of Nemesvámos in Veszprém County; the company’s success is also a success for the community”. “It is enterprises like these that make the Hungarian economy strong”, he explained.

WAREMA PT Hungary Limited has undertaken to realise an investment of 564.8 million forint (EUR 1.636 million), towards which the Hungarian state is contributing 282.4 million forints (EUR 818 thousand) in funding. The company, which manufactures plastic parts for several other sectors of industry, will be procuring a new production line in the interests of expanding its capacities. The region’s Fidesz MP and State Secretary at the Ministry for Innovation and Technology Péter Cseresznyés told the press: “The level of development that Nagykanizsa has already achieved is, in addition to the state funding, also the result of the fact that enterprises have been heavily involved in development, the expansion of their product ranges, and technological upgrading and modernisation in the interests of conforming to market expectations”. “As a result, they have also attracted other enterprises to the city”, he indicated.

(Cabinet Office of the Prime Minister/MTI)