Economy & Policy

Construction companies can compete for tens of billions

Grant applications can be submitted for the Építők-5 program, which is part of the economic restart action plan and has a budget of more than HUF 10 billion.

According to Tamás Schanda, Parliamentary and Strategic Secretary of State at the Ministry of Innovation and Technology, the tender is being opened for the fifth time to provide non-refundable support for technological developments, machinery purchases and reindustrialization investments to improve the construction sector’s operational efficiency and productivity.

According to the announcement, micro-enterprises with a Hungarian headquarters, site or branch can apply for a minimum of HUF 8 million and a maximum of HUF 50 million.

Companies that have already done so in the previous calls for proposals in 2018 and 2019 may also apply. Applications may be submitted electronically until March 5.

Construction output in Hungary has grown by nearly 70 percent since 2010. Improvements and other measures in the government’s Action Plan to Reboot the Economy, including a 5 percent VAT on home construction and a soft loan for renovations, could give a further boost to the sector, the state secretary said.

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