Hungary to launch 2nd round of tenders for companies harmed by Brexit

The government is launching a 12 billion forint (EUR 32.6m) second round of tenders for companies harmed by Brexit, Péter Szijjártó, the minister of foreign affairs and trade, said on Tuesday.

Companies can apply for government support of up to 2 billion forints equal to their provable losses linked to the United Kingdom’s exit from the European Union in the tender launching on Jan. 17, Szijjártó said.

The support can cover up to 70 percent of the losses of small enterprises, 60 percent of those of mid-size firms and 50 percent of large companies, he said.

The funding can be used to purchase equipment for technological development. It can also be used to upgrade infrastructure and real-estate, purchase licences and know-how, and make developments that curb energy consumption, he said.

In the first round last autumn, 37 companies received a total of 10.2 billion forints in support of investments worth a total of 19 billion, Szijjártó noted.