Videoton awarded gov't grant for investment in Bulgaria

Manufacturing

Image by Videoton Holding Zrt.

Minister of Foreign Affairs and Trade Péter Szijjártó on Friday awarded a HUF 430 million government grant to Hungarian-owned electronic manufacturing service provider Videoton Holding to support an HUF 860 million investment at the company's base in Bulgaria, according to a report by state news wire MTI.

The grant was part of funding earmarked to boost Hungarian companies' presence on foreign markets.

So far, the government has awarded 50 companies a total of HUF 70 billion from the funding, supporting investments with a value of HUF 140 bln at bases abroad, Szijjártó said. Fifteen of those investments are in Romania and 10 are in Serbia, he added.

Around three-fourths of Videoton's products are exported.

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