Economy & Policy

R&D&I tenders will get more resources than ever before

The government will provide a total of HUF 182 billion for research, development and innovation tenders.

Péter Szijjártó, Minister of Foreign Affairs and Trade, spoke at the investment announcement event of Japan’s DMG MORI and the German software development company HEITEC.

The minister emphasized that FDI in Hungary has remained unbroken, and investments based on research and development represent an increasing share of it. 

Given the development of technological solutions in Hungary, it will remain an attractive destination for capital looking to establish or increase capacities in the coming period.

In one year, the Hungarian foreign trade surplus doubled, and in the first four months of this year, the surplus is already at EUR 3 billion, he added. 

With the Japanese-German joint venture of DMG MORI and HEITEC, a Hungarian research center will be established in Budapest’s 11th district. The government will provide HUF 1 billion in support for the HUF 4 billion investment, especially given the creation of 55 new jobs related to high value-added research and development.

He added that the expansion of DMG MORI HEITEC’s activities in Hungary is also significant from the point of view of the national economy because all the venture’s products created here are sold abroad, which greatly contributes to Hungarian export performance.

Péter Szijjártó pointed out that the aim of the government is clear. By the end of the year, we want to achieve 5.5 percent economic growth and return this year’s personal income tax to families. This could provide a huge boost early next year, not only to family budgets but to the entire Hungarian economy, he concluded. 

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