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GOVT PLANS GRANTS FOR SMES IN UNDERDEVELOPED REGIONS

 

Hungary’s government plans to launch a grant scheme supporting up to 70% of investment costs at SMEs in underdeveloped regions in January, state secretary for economic strategy and regulation László György has said. Grants of between 2 million forints and 10 million will be available for businesses in 1,202 localities in designated “free business zones”, while grants up to 60 million will be available in 162 “converging settlements”. The money is available to companies in all sectors, including commerce, services and construction. It may be used for payroll costs or employee training as well as for equipment, machinery, property developments or IT upgrades. The ministry has already invited input from the public on the programme.