Hungarian economy minister: State to award support to a further 35 large companies

Budapest, January 13 (MTI) – The government has decided to award non-refundable support worth just over 24 billion forints (EUR 78m) to 35 major domestic companies, Mihály Varga, the economy minister, told a news conference on Friday.

The support will lead to developments worth 60 billion forints, creating 1,147 jobs in the country, Varga said.

The support is directed towards companies that cannot participate in European Union funding for developing their technologies, expanding capacity and creating new jobs, he said.

Varga said the ministry’s initiative was unveiled in 2015, and since then experience shows that the form of support employed is working. In the first phase of the initiative, 14 companies took part in the scheme and this resulted in 9 billion forints of investments and the creation of 500 jobs, Varga noted.

Photo: MTI

Source: MTI