Are you sure?

Hungary establishes new trade and investment agency

The Hungarian Investment and Trade Agency (HITA) aims to protect Hungarian jobs and create new ones by rewarding investments in the country and developing trade, HITA head Erzsebet Dobos said at a press conference on Thursday, showcasing the newly established indpendent government office.

HITA will make expanding Hungarian SMEs' export markets a priority, Ms Dobos said.

HITA wants to raise the proportion of Hungarian exports from SMEs from 18% to 20% within the foreseeable future, said deputy chief Gyorgy Kerekes.

The agency plans to operate with a staff of 155 and run six regional offices in addition to its base in the capital. Tenders have been called to fill the positions.

The agency will work closely with professional associations, business chambers and trade development agencies.

HITA plans 173 export development programmes in 20 sectors on 40 target markets this year. The programmes will give some 3,000 companies efficient, direct assistance. Emphasis will be placed on competitive, job-creating sectors, such as biotechnology, the drug industry, green industries, the food industry, IT and software development.

The agency will operate with a budget of HUF 3.6 billion, in 2011. Most of the money will be cover professional tasks.

The HITA officials said the agency is not the legal successor of the Hungarian Investment and Trade Development Agency (ITD Hungary).