Government subsidy for grand investments
Thursday, May 26, 2005, 07:09
In the period 2003-2008 twenty-six large investments can be realized due to the support system developed by the Ministry of Economy and Transport (GKM), business daily Világgazdaság reported. Total sum of the investments is euro 2.7 billion that is Ft 660 billion, while total value of support was not made public, but it usually provides 7-10% of the investment. Innovations create 17 thousand new workplaces. The support system was launched in 2003 and those investments can receive financial help which are significant from the point of view of national economy. These are the minimum euro 50 million projects in the processing industry and euro 25 million investments in the creation of regional supply centers. In 2004 four such companies could make a contract with GKM.