Government’s development targets revealed for American entrepreneurs

Hungary’s government will continue to cultivate high-level cooperation with economic players, the minister of technology and industry told a business forum of the American Chamber of Commerce (AmCham) on Monday.

Forums such as the Artificial Intelligence Coalition, the Hungarian Hydrogen Alliance and the Circular Economic Technology Platform (KGTP) have been set up recently to ensure effective communication, László Palkovics said.

Regarding the ministry of technology and industry, which was set up in May with the inauguration of the fifth Orbán government, Palkovics said it was the largest portfolio. It has launched a reform of R+D+I financing, carrying on with the reform of Hungarian higher education, and it is introducing market-sensitive courses in adult education, he said.

“The government aims for Hungary’s economy to be Hungarian, green and high tech,” Palkovics said. It has launched economic development programmes, and it is ensuring that all companies can access information on the government funding they are eligible for, he said.

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Regarding transport policy, Palkovics noted the launch of an integrated public transport system. Some 20 percent of Hungary’s motorways were built between 2018 and 2022, he added. Railway development is a priority of the government, which has launched a modernisation programme of the network as well as the development of the Budapest-Belgrade line, he said.

Another focus is the climate policy action plan, Palkovics said.

The government will invest some 16 billion euros in 25 projects until 2030 to strengthen energy sovereignty,

he said. The ministry will continue to pursue the technology and industry policy of the past four years, Palkovics said. The main aims will be to improve productivity and competitiveness, to develop sustainable and high value-added industry and a stable, affordable and sustainable energy supply, as well as full employment to support economic growth, he said.