More companies eligible for investment subsidies in Hungary

An increased number of companies will be eligible for investment subsidies from Monday, the minister of foreign affairs and trade said on Sunday.

Péter Szijjártó said on Facebook that significant changes had been introduced to simplify the system of investment support. The minimum investment requirement for eligibility has been reduced from 4 billion forints (EUR 10.1m) to 1.2 billion forints in smaller rural settlements which will enable many Hungarian-owned companies to get 50 percent support for their investments. The system of guarantees will be simplified and investments involving renewable energy will be eligible for support also in Budapest, he added.

Additionally, a new type of support will become available in the entire area of Hungary, for strategic investments that promote the transition to green economy, he said.