Hungary to buy arable land in Central European countries

MTI/János Mészáros

The government decided to create a private capital fund to buy arable land in Eastern and Central Europe. They would like to help the foreign expansion of Hungarian agriculture companies abroad through the fund.

According to index.hu, the relevant decree published in the Friday official gazette entrusted Foreign Minister Péter Szijjártó to create the private capital fund with the help of Eximbank. The deadline is September 30, and its budget will be EUR 400 million. 280 million of that will be provided by the national budget. However, the source of the remaining 30 pc is not yet known. Moreover,

it is not known where the Hungarian government would like to buy arable land in the region.

According to MTI, the government is launching another program worth HUF 10 billion (EUR 27.8m) aiming to support Hungarian companies looking to increase their presence in foreign markets, Péter Szijjártó, the Minister of Foreign Affairs and Trade, said on Sunday.

As part of the scheme recommended by the operative board for coordinating the economic recovery, the government will cover

a maximum of half the costs of companies’ investments abroad up to 4 billion forints,

Szijjártó said on Facebook.

Businesses that receive funding will have to undertake to increase their sales revenue in Hungary resulting from their expansion abroad by at least as much as they receive in support through the scheme, Szijjártó said.

While

the Hungarian economy in recent years has seen record investments by multinational companies,

certain large Hungarian companies that are successful abroad have also got stronger, Szijjártó said. But many of them are now only able to increase their international market share if they establish a presence abroad by, for example, building factories, he said. Their expansion in foreign markets allows them to bring their profits back home, which is a boost to the Hungarian economy, the minister added.

Hungarian deputy PM decorates Chinese investor Frank Liu

Source: MTI, index.hu

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4 Comments

Monika Miklos says:

19/07/2021 at 07:19

We still have amazing harvestable farm cropland in Hungary throughout all states.
The countries debts haven’t even been paid off. It seems owning land and providing local jobs in other countries for Hungarians seems like a profitable plan, but where is the money coming from to buy those lands?
Monika Miklos says:

19/07/2021 at 07:35

We still have amazing harvestable farm cropland in Hungary throughout all states. The countries’ debts haven’t even been paid off. It seems owning land and providing local jobs in other countries for Hungarians seems like a profitable plan, but where is the money coming from to buy those lands?
Monika Miklos says:

19/07/2021 at 07:37

In 1984 or 1985 my parents won the National Lottery approximately 200 + Million Forints (HU Currency)
My Dad died before he was able to claim the money.

WHERE IS MY PARENTS’ MONEY???
Monika Miklos says:

08/08/2021 at 04:21

Most Hungarians of my generation has decided to leave the country due to its lack of supplies and adequate amount of fair jobs. It’s been very rough for many of us. The past decade especially has been a real challenge and those who became unemployed and stayed in local shelters have been attacked. It’s not all dreamland just so you know.