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Construction industry pushes for earlier funding payouts

Construction industry association EVOSZ is urging the government to make funding for investments at SMEs available sooner, association chairman László Koji told state news agency MTI.

The Ministry for Innovation and Technology is making HUF 36 billion in funding available for capacity expansions and technology investments by 2020. 

EVOSZ wants tenders for the HUF 12 bln and HUF 8 bln earmarked for 2019 and 2020, respectively, moved up to April of this year, Koji said. Bringing the tenders forward would allow 10-15% of eligible companies to avail themselves of the funding, compared to just 4-5% at present, he added.

Koji said EVOSZ would organize job fairs in Bavaria, Lower Austria and Baden-Württemberg this year to attract Hungarian building industry professionals working abroad back home.

Hungaryʼs construction industry is among the industries hardest hit by the local labor shortage, MTI notes.