Government awards subsidies for big company investments

Finance Minister Mihály Varga on Thursday awarded three companies grant money allocated to support investments at big businesses.

Varga awarded 6.8 billion forints (EUR 18.3m) in grant money to CECZ Logistic Park Management for a 20 billion forint logistics park in Vac, on the outskirts of the capital; 2.7 billion forints in subsidies to RE-POL Innovacios for a 5.6 billion forint rubber recycling plant; and 1.7 billion forints to metal sheet maker FERZOL for a 3.8 billion forint automated plant complemented by energy and technology upgrades.

The investments will create 350 jobs,

he said.

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The funding earmarked for big company investments has supported 250 projects with a combined value of 570 billion forints since the scheme was launched in 2015.

Meanwhile, Péter Szijjártó, the minister for foreign affairs and trade, inaugurated a 450 million forint (EUR 1.2m) industrial park in Csurgo in southwest Hungary on Thursday. Szijjártó said the 8.5-hectare park, set up with European Union funding, will draw “significant investments” that could create “several hundred jobs” in future.

Industrial parks contribute to Hungary’s investment-friendly, competitive economic environment which was at the root of Hungary’s record year in 2021, despite the worldwide crisis, he said.

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Source: MTI