ADVERTISEMENT

Ministry launches development program for mid-sized firms

Initiatives

The Ministry for National Economy is launching a development program from European Union funding worth HUF 1.7 billion to support medium-sized companies showing high growth with grants, István Lepsényi, secretary of state for economic development and regulation, said on Wednesday.   

Lepsényi said SMEs generate 50% of Hungaryʼs total economic output, employing two-thirds of all the employed. 

More than 400 of the top 500 medium-sized companies are Hungarian-owned, he added.

The aim of the development program targeting medium-sized companies is to ensure that manufacturing companies use up-to-date technologies, automate production, be more innovative, take part in R&D programs, use modern corporate governance methods, and familiarize themselves with foreign markets. 

The program will run until May 2019.

Heavy Rains Expected This Week to Ease Drought Weather

Heavy Rains Expected This Week to Ease Drought

Hungary Treats Smooth EU Transition as Priority, Says Bóka EU

Hungary Treats Smooth EU Transition as Priority, Says Bóka

HU-rizon Program: HUF 8 bln Funding for International Resear... Science

HU-rizon Program: HUF 8 bln Funding for International Resear...

Inspiring Women at the Focus of Gourmet Fest In Budapest

Inspiring Women at the Focus of Gourmet Fest

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.