The performance and success of the Hungarian economy in recent years has been fundamentally affected by the fact that a large number of international corporate investments have arrived in Hungary, Minister of Foreign Affairs and Trade Péter Szijjártó said.
The minister said, however, that large Hungarian companies should also be successful in foreign markets.
It is often the case that they can only increase their international market share if they also establish a presence abroad, for example, by building a factory. Expansion abroad will then make it possible to repatriate their profits in foreign markets, thus strengthening the Hungarian economy, he added.
The government has decided to launch a foreign market support program at the suggestion of the Operational Group responsible for restarting the economy. The budget of the program is HUF 10 billion, and it will be available for Hungarian companies that expand abroad by setting up a foreign subsidy or building a factory.
The support can reach a maximum of half of the investment amount, but not more than HUF 4 billion. Also, companies funded must undertake to increase their sales in Hungary by at least as much as the support received for foreign expansion, Szijjártó explained.