Focus of govʼt grants will switch to R&D, technological improvements, says Szijjártó

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The system of investment incentives will change to focus more on supporting technological improvements next year, and it will be sufficient to maintain employment to win a grant from the central budget for such projects, Minister of Foreign Affairs and Trade Péter Szijjártó said yesterday, according to state news agency MTI. At present, raising employment is a condition to get such grants.

In another new element, the government will launch a program to specifically support research and development, and that support will be available to companies in Budapest too, not just the less advanced regions of the country.

Speaking about the changes at an event organized by the German-Hungarian Chamber of Industry and Trade, Szijjártó said that “the more big international companies settle in Hungary, the more international companies expand their capacities in Hungary, the better it will be for domestic SMEs, the more domestic SMEs will be able to get involved in the supply network of these companies”.

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