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The Ministry of Innovation and Technology looks to decrease business bureaucracy

The Ministry of Innovation and Technology is working to improve the international competitiveness of enterprises.

Based on the proposals of the Hungarian Chamber of Commerce and Industry (MKIK), new bureaucracy-cutting measures are being developed to improve the international competitiveness of enterprises and create a more favorable business environment.

László György, State Secretary of the Hungarian Ministry for Innovation and Technology, said that the strategy to strengthen SMEs adopted in the autumn of 2019 includes the reduction of the burden on businesses and the improvement of the business environment as a separate pillar.

The state secretary recalled that the reduction of the burden on entrepreneurs was due to the six-year agreement concluded with partners in 2017, through which the rate of the social contribution tax was further reduced in July of this year.

The Hungarian Chamber of Commerce and Industry conducted a questionnaire and interview survey on behalf of ITM between March and April 2020 to identify administrative burdens that weaken the competitiveness of Hungarian small and medium-sized enterprises.

The survey found that companies’ confidence in public administration has improved significantly, but they expect their business environment to improve further, including a predictable and simpler tax and tender system.

Among other things, MKIK proposes a review of notarial fees, in particular for crisis-related credit and other financial products, and further simplification of tender administration in order to provide businesses with access to finance.

György also spoke about the fact that the first two phases of the economic protection action plan to mitigate the negative effects of the coronavirus epidemic have been effective. By June 2020, there were almost 4.5 million employed in Hungary, 12,000 more than in January and only minimally lower than in June 2019. Meanwhile, 700,000 more people are currently working in Hungary than in 2010.

Source
www.vg.hu
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