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The Hungarian national export protection program benefits all

The government subsidies provided for strengthening the position of Hungarian companies will pay off, Péter Szijjártó, Minister of Foreign Affairs and Trade said in Kecskemét.

A total of 46 companies will benefit from the HUF 2 billion allocated to the government’s national export protection program, including three Hungarian-owned companies in Kecskemét, the minister said. Szijjártó pointed out that companies can strengthen their position in foreign markets through brand-building, digital development and marketing; also, government support will provide the beneficiary companies with new orders and customers, which can increase revenues and contribute to the growth of the Hungarian economy and job creation.

The government is currently supporting the foreign market activities of BIM Design Kft., KÉSZ Metaltech Kft. and Univer Product Zrt. with funding of HUF 102 million. These companies achieved export revenues of HUF 8 billion in 2019, and the additional resource will allow them to multiply this figure, he added. 

Szijjártó emphasized that the pandemic turned life upside down, bringing both health and economic challenges. But due to the creativity, diligence and professional performance of the Hungarian people, Hungary’s economic weight far exceeds its size. While it is 92nd in terms of population, it ranks 34th in the world in terms of export performance, he pointed out. 

He added that the ratio of Hungarian exports to GDP is above 83 percent, which is the sixth highest value in the European Union.

These figures show the strength of the Hungarian economy and the direction of its development, said the Minister, adding that the government’s key task is to help Hungarian companies take advantage of the opportunities that have arisen on the world market.

Source
www.kormany.hu
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