Gov't Mulls Steps After EC Blocks Vehicle Parts Plant Aid
![](/uploads/banners/20246/pexels-dusan-cvetanovic-254415846-12541596.jpg)
Photo by Dušan Cvetanović/Pexels
Hungary's government is weighing further steps after the European Commission blocked state aid for a vehicle parts plant in the country's underdeveloped north, the Hungarian Investment Promotion Agency (Hipa) said.
According to portfolio.hu, Hipa CEO István Joó argued the EC's decision ran counter to the European Union leaders' new European competitiveness deal and obstructed renewal on the continent.
"Bad decisions in Brussels over the past years have brought European competitiveness to a low point," he added, pointing to the importance of supporting investments amid the economic and geopolitical circumstances.
"Hungary has no desire to assist in this endeavor. The government is weighing further possible steps," he said.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.