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GOVT LAUNCHES HUF 2 BN SME SUPPORT SCHEME

 

Hungary’s government is launching a new 2 billion forint (EUR 5.7m) scheme to support small and medium-sized businesses, Péter Szijjártó, the foreign affairs and trade minister, said on Facebook over the weekend. Starting on Aug. 3, SMEs looking to build their brand abroad, prepare smaller investment projects or set up online distribution channels will be invited to bid for a maximum of 50 million forints in government support, the minister said. The new era of the global economy set to emerge from the novel coronavirus pandemic presents both challenges and opportunities to countries like Hungary that rely heavily on exports, Szijjártó added. This is why the government has decided to launch a new support scheme for Hungarian SMEs that can take advantage of the new era and be successful on foreign markets, he said.