Gov't approves economy operative corps proposals
Image by Shutterstock.com
The government has approved six proposals submitted by the operative corps for coordinating the economic recovery, Minister of Foreign Affairs and Trade Péter Szijjártó, who heads the body, said at a press conference on Friday.
The government decided to expand the number of counties in which the investment value threshold for subsidies is EUR 5 million by two to seven, Szijjártó said.
The investment value threshold for subsidy eligibility is EUR 10 mln in other counties.
The value threshold for R&D investments eligible for subsidies will be lowered from EUR 3 mln to EUR 1 mln, while the job creation threshold for such investments falls from 30 to 10, he added.
Regulations governing Magyar Eximbank will be modified allowing it to offer businesses flexible export credit insurance, he said.
Rules on telecommuting will be streamlined and "unnecessary" statutes eliminated, he added.
To address labor shortages in some sectors, Szijjártó said workers who were trained abroad and whose first language is not Hungarian will be allowed to take practical vocational examinations with the help of an interpreter.
He said the government decided to expedite 17 infrastructure investments necessary for job-creating investments by businesses.
Hungarian Chamber of Commerce and Industry (MKIK) head László Parragh, who joined Szijjártó at the press conference, noted that some of the proposals had been made by economic players and acknowledged the government's rapid response to the matters.
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.