Hungarian companies have recognised that investment gives them the opportunity to gain a competitive edge over their regional and international peers, Foreign Minister Péter Szijjártó said on Wednesday.

Speaking on the sidelines of a government meeting, Szijjártó said 806 mid-sized companies have already applied for a total of 169 billion forints (EUR 487.3m) in government support to undertake 377 billion forints’ worth of investments.

Fully 491 companies have already received 113 billion forints, he said.

Eight large companies have also registered their intent to invest 60 billion forints in total, he added.

The government’s scheme to support companies in expanding abroad has received 14 applications for a total of 18 billion forints in export support, Szijjarto said.

Meanwhile, 397 Hungarian companies have applied for support for investments in ethnic Hungarian regions abroad, with the investments totalling 21 billion forints, he said.

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