Economy & Policy

The budget for competitiveness aid may increase

The government wants to help companies gain a competitive edge.

Minister of Foreign Affairs and Trade Péter Szijjártó said that just this Monday, 14 companies applied for the competitiveness support, and a total of 540 have done so since the aid was first announced. So far, applicants have undertaken developments worth a total of HUF 260 billion. The support program assists companies with an immediate, non-refundable state contribution.

The coverage of the competitiveness-enhancing program doubled last week to HUF 100 billion. But demand for the aid exceeded HUF 100 billion, so the government can increase the amount of their contributions, the minister announced in Budapest. He is asking the government to open new resources for the program. Just like people need their health to be protected, so they need to be able to rely on a workplace for a fresh start in this environment, Szijjártó emphasized.

The relations and rules of the global economy are changing, and those who can develop and expand now can gain a competitive advantage, the minister further explained. Szijjártó added that the government would consider raising the subsidy limit of EUR 800,000, but this would only be possible after the approval of EU decision-makers.

On Tuesday, the Ministry of Foreign Affairs and Trade handed over support documents to three companies. 

Merkbau Építőipari és Kereskedelmi Kft.’s investment of HUF 580 million will receive more than HUF 287 million in budgetary resources. Gémtech Gépészeti Mérnöki Technológiai Tervező és Gyártó Kft.’s near HUF 574.5 million investment will also receive more than HUF 287 million. And Teka Magyarország Zrt.’s development worth some HUF 188 million will receive a contribution of more than HUF 94 million.

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