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Gov’t to Launch ‘Export Protection Programme’

MTI-Hungary Today 2020.06.22.

The government has decided to launch an export protection programme within its economy protection action plan, using a budget of 25 billion forints (EUR 72.1m), Minister of Foreign Affairs and Trade Péter Szijjártó said on Monday.

Out of the grand total, 23 billion forints will be available to large companies planning to make investments “at any distant point in the world”, while small companies could benefit from grants of up to 50 million forints from the remaining 2 billion, to help access to export markets, the minister said.

The scheme complements an export promotion programme, financed from a budget of another 25 billion forints and launched last Friday, aimed at assisting companies investing in neighbouring countries, Szijjártó said.

Szijjártó spoke at a ceremony where representatives of eight companies (Alpha-Vet, Bábolna Tetra, Hell Energy, HungaroControl, Ilcsi Szépitő Füvek, Meditop, Silveria Elektronikai and Tungsram Operations) signed agreements to join the government programme.

Featured photo by Márton Mónus/MTI