Stimulation for four sectors

As a part of the government’s crisis management- and economy-stimulating program a capital-attracting- and -supporting program will be launched for the strategic sectors, such as the vehicle industry, biotechnology, logistics and information and communication sectors, reported Hungarian Daily, Világgazdaság.


The government plans to restructure the regulations, the support system and educational background of these sectors to assist in their dynamic growth. Besides providing support for export and suppliers the government has already launched a training program for the leaders of municipalities in order that they will be able to meet the requirements of investors. Most of the state-supported research, development and innovation project tenders based on EU funds are also realized in these sectors. The companies of the four sectors also will be able to access the other elements of crisis management and economy stimulating program such as partaking in the Ft1400 billion direct financial supports.
The aim of this program is to attract foreign investments for long- term periods and to provide support in establishing and developing a large number of Hungarian companies that are able provide exportable products and services.
The actual plans for regulations and support are still under process, but it is certain the program will be available only for a limited period with the possible inclusion of other sectors over time.

The BpSun Staff

03.12.2008