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Economy & Policy

Government further supports green businesses

HUF 10 billion is available for the technological development of green businesses under the Green National Champions program.

In a statement issued by the Ministry of Innovation and Technology, László György, State Secretary for Economic Strategy and Regulation, confirmed that “the government is committed to supporting the technological development of green economy enterprises with high growth potential because it will create not only high-tech but also sustainable jobs in Hungary, which will help us win the decade ahead.”

As MTI reported, the Green National Champions program (GINOP Plus 1.3.1-21) aims to strengthen companies’ energy-efficiency improvements, ensuring water efficiency, promoting electromobility, producing raw materials from secondary sources, and manufacturing finished products that replace single-use and other plastic products.

“So far, nearly half a hundred such companies have already been awarded grants,” László György said.

Under the program, businesses can purchase new equipment and machinery, invest in real estate, use renewable energy technologies, carry out experimental development, obtain manufacturing licenses and know-how, and receive consultancy services.

Under the call, businesses operating in the field of the green economy can receive between HUF 20 million and HUF 1.5 billion in the form of a conditional grant with a maximum intensity of 50 percent. 

The call is open to enterprises with at least three employees and that have at least one full year of closed business and are not subject to the KATA (small company taxation). A further criterion is that the applicant company must have a net turnover of at least HUF 30 million according to the annual account of its last approved and closed full financial year preceding the submission of its application for aid. 

Applications for the Green National Champions program can be submitted by registering at znb.ifka.hu until midnight on January 19, 2022. Applications will be accepted between February 10 and 24, 2022, following the evaluation.

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