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COMPANIES APPLY FOR SUBSIDIES TO SUPPORT HUF 295 BN OF INVESTMENTS

 

So far 625 companies have applied for government subsidies for investments that support job preservation during the coronavirus crisis, Peter Szijjártó, the foreign affairs and trade minister, said on Monday. The applications are for funding that will support investments of 295 billion forints (EUR 841.5m) and save some 111,000 jobs, Szijjártó said after presenting government subsidy certificates. Hungarian economic players will have to hold their own in a new global economic competition after the novel coronavirus pandemic, he said.
Among the most recent recipients of the support are German-owned Thyssenkrupp Components Technology Hungary and Italian yarn company Filati Maclodio, which were each awarded more than 282 million forints for their 565 million forint investments, along with Nanushka International, which has received more than 287 million forints for an investment worth over 574 million forints, Szijjártó said.