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Hungary to invest Ft 2,000 bln in green industry

Hungary is to invest an unprecedented amount in environmental protection over the next five years, said Environment Minister Miklós Persányi on Tuesday. As a result of investments worth close to Ft 2,000 bln, or €8 billion, environmental companies will grow faster, the environment will be cleaner and more jobs will be created in the sector, Persányi said. The competitiveness of Hungary's green industry will be helped by a series of gradual cuts in value added tax, environment protection and services.