A new operative board for restarting Hungary's economic life after the coronavirus epidemic was officially established.Continue reading
The government has approved six proposals submitted by the operative board 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 5 million euros by two to seven, Szijjártó said.
The investment value threshold for subsidy eligibility is 10 million euros in other counties.
The value threshold for R+D investments eligible for subsidies will be lowered from 3 million euros to 1 million euros, while the job creation threshold for such investments falls from 30 to ten, 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 labour 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.
Featured photo by Lajos Soós/MTI