Foreign market growth support programme launched in Hungary
The performance and success of the Hungarian economy in recent years has been fundamentally affected by numerous large corporate investments in Hungary which provide quality jobs, Hungarian Foreign Minister Peter Szijjarto wrote on Facebook on Sunday, announcing that the government will launch a foreign market growth support programme.
FM Peter Szijjarto emphasized that in parallel with the increasingly higher investment records, large Hungarian companies reaching success in foreign markets have also been established and gained strength. Often, they can only increase their international market shares by establishing their foreign presence, by building a plant, for example. Their expansion abroad will then allow them to strengthen the Hungarian economy by the profits they earned, he added.
The Hungarian government has therefore decided to launch a foreign market growth support programme at the suggestion of the Operative Group responsible for restarting the economy. The programme is open for Hungarian companies expanding abroad by setting up subsidiaries or building factories. The budget of the programme is 10 billion forints (around 28 million euros) this year.
The financial support can be a maximum of half of the amount invested by the company, but cannot exceed 4 billion forints (11 million euros), and can be received by the company which undertakes to increase its Hungarian revenue resulting from the foreign expansion by at least the sum of the support, the minister explained.