It is the Hungarian government’s strategic goal to make Hungary a competitive country performing successfully in a new global economic age, the foreign minister said at a founding ceremony in Győr, in north-western Hungary, on Thursday.
Péter Szijjártó addressed the groundbreaking ceremony for the country’s first-ever Centre of Higher Education and Industry Cooperations at the Széchenyi István University.
The Hungarian government has entered the global economic competition “with strong cards,” the minister said, listing incentives Hungary has to offer for investors.
Hungary has the lowest corporate and personal income tax rates in Europe, he said, adding that the government had launched several investment support and financing schemes and would continue to reduce payroll taxes.
Szijjártó also noted the government’s objective to increase spending on R+D to 1.8 percent of GDP by 2020 and to 3 percent by 2030.