Government to help Hungarian businesses to expand in foreign markets, says FM minister

Hungary’s government will help Hungarian-owned businesses to expand in foreign markets by all means at its disposal, Péter Szijjártó, the minister of foreign affairs and trade, told a foreign trade conference in Budapest on Monday.

Drawing investments and support of exports, as well as that of the foreign expansion of companies, is even more important in the current economic climate, the foreign ministry cited Szijjártó as saying.

He said Hungarian diplomats were expected to “find out about the investment plans of foreign companies as fast as possible, faster than everyone else… and to be the first to learn about business opportunities abroad.”

At the conference organised by the foreign ministry, the foreign minister signed cooperation agreements with five Hungarian companies as part of the government’s KEPP priority exporter partnership programme, including B+N Referencia Ipari, BioTech USA, Continest Technologies, Ganz Holding and Videoton Holding. These companies generated a combined revenue of 402.5 billion forints (EUR 1bn) last year, 49 percent of which came from exports, the ministry said.

Launched in 2019, KEPP has provided non-financial support to 40 Hungarian-owned businesses with a high share in Hungary’s exports.

As we wrote earlier, American ExxonMobil Hungary’s new Budapest office inaugurated last week, details HERE.

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