Demján: Hungary needs 10-year plan for trade sector

Banking

National Association of Entrepreneurs and Employers (VOSz) president Sándor Demján today stated that government and business leaders must consider formulation a ten-year strategy for the trade sector, with particular emphasis on food production/distribution.

At the annual “European Trade Day” event, Demján argued that the very center of such a strategic plan would be the revival of Hungary’s lagging food sector, suggesting a new organizational structure which would involve the country’s larger supermarket chains and more fostered labor.

According to Demján, taxes and the black market for food product are drags on the greater sector, and both problems go hand-in-hand. Where there are high taxes, he stated, there black market thrives. With lower taxes on food items, among which Hungary’s rates are among the European Union’s highest, competitiveness would be enhanced within the EU market and at home.

Further, with lower tax rates, the meat industry could completely eliminate its black market activity, said Demján.

In light of Demján’s remarks, VOSZ trade and services section head László Krisan proposed establishing a roundtable discussion of VOSz and government representatives to draw up such a strategy.

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