Decision to Support Enterprises Made in Record Time


The first decisions regarding a government tender to support technology upgrades made by enterprises from the budget of 33 billion forints (EUR 95.5m) have been made in record time, Mihály Varga, the finance minister, has said.

Interest in the government’s scheme which started last Friday has been immense, the minister said. So far six companies have won almost 200 million forints in development funding. Decisions will continue to be taken in the coming weeks, and it is likely that almost 1,500 businesses will receive the funding.

The aim of the scheme is to protect jobs and create new ones amid the coronavirus crisis, Varga noted. The government aims to swiftly channel subsidies to micro, small and medium-sized firms as soon as possible, with fast-track applications and simplified assessments. The support is for new equipment and new technologies for automated production as well as IT, real estate investment and product and service development and training, he said. Between 5 million and 150 million forints is available to each firm, funding up to 70% of the total costs of the planned investment.


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