The government is providing funding to enterprises that maintain workplaces and create new jobs, because the past ten years have proven that this economic policy model functions well”, Minister of Foreign Affairs and Trade Péter Szijjártó declared on Friday in Budapest at an event to present funding certificates for the competitiveness-improvement program.
“Following successful healthcare protection against the global pandemic, the next task it to successfully realise economic protection, and the implementation of the Economy Protection Action Plan is now the number one priority”, the Minister emphasised.
“The competitiveness-improvement program came to a close on Thursday, and according to the final figures a total of 806 applications were submitted, with applying enterprises undertaking to realise 376 billion forints (EUR 1.08 billion) in investments, and protecting some 143,600 workplaces as a result”, he stated. “The government originally launched the program with a budget of 50 billion forints (EUR 143 million), but later tripled this sum, making available a total of 150 billion forints (EUR 428 million). Applications have been submitted with relation to total funding of 178.5 billion forints (EUR 511 million), and we will be asking the government to fund the additional amount in excess of the current 150-billion-forint budget”, he indicated.
“A new global economic competition is commencing in which Hungarian enterprises must face new stakeholders, and the distribution of power will also be transforming”, Mr. Szijjártó highlighted. He pointed out that this is not the first time that Hungary has faced economic challenges of this nature. “Ten years ago, the country was in a similar situation, but on this occasion the difficulties are not being faced by an extremely weakened economy but, thanks to the efforts of the Hungarian people and enterprises, by one of Europe’s most dynamically growing economies”, he explained.
The Minister emphasised that the government’s goal is “to protect all workplaces that have become endangered, and to create at least as many jobs as will be lost as a result of the coronavirus pandemic and the difficulties that follow it”. “Jobs can only be created through investments, and this is why it is important for enterprises that use the current period for development receive as must assistance and support as possible”, he pointed out.
Three more company directors were ceremoniously presented with funding certificates at the Ministry of Foreign Affairs and Trade on Friday.
Flextronics International Limited will be realising an investment of 566 million forints (EUR 1.62 million), towards which it is receiving 282.4 million forints (EUR 808 thousand) in state funding. The electronics manufacturer, which is present in several sectors of industry, will be investing in a development project linked to its automotive industry division. At the event, the region’s Member of Parliament László Vígh (Fidesz) emphasised: “Zalaegerszeg will be one of the important bastions of the automotive industry thanks to the vehicle test track being constructed there. He highlighted the cooperation between Flextronics and the government, citing the investment project planned by the company and the state funding being provided towards it by the government as a good example of this.
GS Yuasa Hungary Limited will be receiving some 287.1 million forints (EUR 821 thousand) in state funding towards its investment of over 635.6 million forints (EUR 1.82 million). The automotive industry parts manufacturer will be realising a capacity-increasing investment project at its plant in Miskolc. The region’s Member of Parliament Katalin Csöbör (Fidesz) emphasised: “In view of the economic effects of the pandemic, the most important task has become to ensure that enterprises are able to retain their employees”. She drew attention to the fact that GS Yuasa has chosen further development in the current, difficult situation, and by doing so it is retaining workplaces, which is good for both the city and the region.
MET-NA Limited will be realising an investment of 565.9 million forints (EUR 1.62 million), towards which it is receiving 282.9 million forints (EUR 810 thousand) in state funding. The Győr-Moson-Sopron County-based, family-owned metal industry company is a supplier to the automotive industry, and will be investing in equipment to facilitate the machining of tools.
(Ministry of Foreign Affairs and Trade/MTI)