EU funds
Hungary to nurture Hungarian multinationals
The "Hungarian Multinational Programme 2" will serve to bolster SMEs with outstanding growth potential and will help develop their value-added activities and market expansion opportunities, while the "Hungarian Multinational Programme 3" aims to assist in the complex development of with outstanding growth potential in manufacturing, Rákossy said.
Businesses receiving support from these programmes will improve their competitiveness and may begin a more conscious growth trajectory as they will be able to plan future investments with a strategic approach, he added.
SMEs may increase value added through developing independent Hungarian products and services and through brand building. In addition to improving competitiveness, they can also shift towards efficiency-oriented and innovation-focused operation, which will help increase wages and job security, according to Rákossy.
The two programmes will grant non-refundable subsidies to an estimated 100 to 130 businesses, Rákossy said. The programmes will only be open to SMEs that have passed the pre-qualification procedure of the "Hungarian Multinational Programme 1" and have made a development plan as part of that procedure.
Winners may also spend the money on various consulting services and on buying equipment that will result in technological development, Rákossy said.
Businesses receiving support from these programmes will improve their competitiveness and may begin a more conscious growth trajectory as they will be able to plan future investments with a strategic approach, he added.
SMEs may increase value added through developing independent Hungarian products and services and through brand building. In addition to improving competitiveness, they can also shift towards efficiency-oriented and innovation-focused operation, which will help increase wages and job security, according to Rákossy.
The two programmes will grant non-refundable subsidies to an estimated 100 to 130 businesses, Rákossy said. The programmes will only be open to SMEs that have passed the pre-qualification procedure of the "Hungarian Multinational Programme 1" and have made a development plan as part of that procedure.
Winners may also spend the money on various consulting services and on buying equipment that will result in technological development, Rákossy said.
This article is part of the work programme titled "The impacts of EU cohesion policy in Hungary - Present and Future" which is carried out by Net Média Zrt., the publisher of Portfolio.hu, between 1st April 2019 and 31st March 2020 with European Union financing. The views in this article solely reflect the opinions of the author. The European Commission as the funding entity does not take any responsibility for the use of information presented in this article.
