Hungarian government to prepare action plan to promote investment

The government will prepare a plan to “make Hungary an even more attractive destination for investment“, the foreign minister told a business forum organised by the American Chamber of Commerce on Friday.

Péter Szijjártó said that the plan would be prepared in cooperation with innovation and technology minister László Palkovics based on proposal received at the end of June.

On another subject, Szijjártó said that

his government is against plans to unify tax brackets across Europe because “it would award irresponsible economic policies”.

Tax cuts should follow political and economic achievements, they are “not given for free”, Szijjártó said. He insisted that “not all EU members” have consolidated their fiscal policies and cannot afford cutting taxes.

Szijjártó also said that economic ties between Europe, the US and China are weakened by trade disputes, which “should be avoided”. He noted that exports accounted for 90 percent of Hungary’s GDP, three quarters of those exports going to Europe while the US and China were the second and third largest trading partners of the country.