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Government approves strategic plan for industrial development

Automotive

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The government has approved the Irinyi plan submitted by the National Economy Ministry last Friday that sets out the most important industrial development tasks for the 2016-2020 period, state secretary at the ministry István Lepsényi said today, according to Hungarian news agency MTI.

The plan aims to raise the industrial sectorʼs contribution to annual GDP from the current 23.5% to 30% by 2020.

The goal is to have a balanced economic development. As such the industrial sectorʼs dependence on vehicle manufacturing must be reduced and other segments of the industry must be strengthened, said Lepsényi.

The program will be financed by Hungarian and European Union sources, he added.

The Irinyi plan designates seven areas that will be key for economic development in the future, among them vehicle manufacturing, the pharmaceutical sector, infocommunications and the defense industry.

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