The government has approved proposals made by the body responsible for working out ways to revive Hungary’s economy, with a view to boosting the competitiveness of enterprises and developing infrastructure, Péter Szijjártó, the foreign and trade minister who is also in charge of rebooting the economy, said on Tuesday.
The pot of subsidized loans that micro, small and medium-sized enterprises can draw on for investments is growing to 300 billion forints from 150 billion, giving 900 companies the chance to enhance their competitiveness, he said.
Also, 4 billion forints will go towards infrastructure developments in Göd, on the periphery of Budapest, to help Samsung SDI further expand one of the world’s largest electric battery plants. The minister said that given the importance of the car industry to Hungary’s economy, it was vital to have as many big international electrical producers as possible located here.
Szijjártó also announced that a road connecting Páty to the M1 motorway and a bypass will be built, making it easier for locals in the Zsámbék Basin to reach transport networks. The new road is also expected to attract investments to the new industrial area there.
Meanwhile, the government has decided to speed up construction of a new building complex for the Museum of Transport as part of a brownfield investment in the Kőbánya area of Budapest.
In the featured photo illustration: Minister Szijjártó. Photo by Attila Balázs/MTI