Economy & Policy

Four more economic proposals were adopted by the government

According to Péter Szijjártó, Minister of Foreign Affairs and Trade, enterprises will be made more competitive.

In addition to improving the competitiveness of businesses, the government has taken further steps to improve infrastructure and transport.

The foreign minister, who also serves as Head of the Operational Group responsible for relaunching the economy, said on Tuesday that the government had adopted four new proposals to increase the competitiveness of businesses, as well as improve infrastructure and transport. 

These include increasing subsidized loans for investments by Hungarian micro, small and medium-sized enterprises from HUF 150 billion to HUF 300 billion, thus helping to boost the competitiveness of 900 companies.

Szijjártó reported that the government had approved a HUF 4 billion infrastructure development plan to expand the Samsung SDI battery factory in Göd, which would also allow additional suppliers to move to the city. Péter Szijjártó said Hungary’s flagship economic sector is the automotive industry, which is currently undergoing a revolutionary renewal, so it’s important that as many large international companies engaged in the production of electrical technologies as possible imagine their future in Hungary.

Regarding the connecting road and bypass to be built between the M1 and Páty, the minister said that the investment will make life easier for the people living in Páty, as well as provide an opportunity for investment in a new industrial area developed there.

Finally, he reported on the acceleration of the new Museum of Transport, which could help the renewal of Kőbánya as part of a brownfield investment.

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