Hungary redoubles efforts to improve competitiveness

kormany.hu/Márton Kovács

The government is preparing an action plan to make Hungary more attractive for investments, Minister of Foreign Affairs and Trade Péter Szijjártó told an AmCham business forum in Budapest on Friday, as reported by state news wire MTI.

Szijjártó said the government, as before, welcomes recommendations from AmCham members. He added that he will meet with Minister for Innovation and Technology László Palkovics at the end of the month to finalize the plan based on the proposals, which they will then forward to the government.

The Hungarian government is against unifying tax rates in the European Union as it encourages irresponsible economic policies. Hungary will therefore fight such plans, Szijjártó noted.

It is in Hungaryʼs interest for trade to be as free and equal in conditions for everyone as possible, the minister said, adding that he hopes that ongoing international trade disputes would be resolved.

In the current global environment, Hungary must redouble efforts to improve its competitiveness, Szijjártó observed. Further tax cuts and steps supporting the advance into the next global economic era serve this goal, he said.

Figures

VC Investments in CEE at EUR 940 mln in Q2 2024 – Vestbee

World

American Hungarian Diaspora Org Sets Sights on Young People

Energy Trade

Ganz’s Giant Transformer to Connect Hungarian and Eastern European Power Grids

Budapest

Karácsony: Budapest Ready for Flood Wave

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For over 30 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.