After the last six, the government has now adopted another seven pieces of legislation that will allow the Hungarian economy to start up again the fastest in Europe, announced Minister of Foreign Affairs and Trade Péter Szijjártó during his visit to Belgrade on Thursday.
Of the seven new laws adopted, two help the inflow of skilled labor into the country and the growth of employment, one law causes a reduction in the costs of small and medium-sized enterprises, and an amendment to the law reduces the costs of large investments in order to "ensure that global economic capacities to be successful in the global competition for distribution, to be able to bring as many investments to Hungary as possible in Hungarian".
Three other pieces of legislation provide financing for the establishment of a stronger position of Hungarian companies on international markets, he said. According to Péter Szijjártó, the global pandemic has ushered in a new world economic era, a new global economic competition has started. "It is in our interest that Hungarian companies are the most successful in this new global economic competition, as this is necessary in order to be able to show economic growth of 5.5 percent by the end of the year," he said . The minister pointed out that with the legislative amendments regarding the labor market, it will be possible "in a controlled manner and under strict conditions for workers from non-neighboring third countries to come to Hungary for a temporary period, also through temporary employment" . According to a very strict set of criteria, a qualified labor hire circle will be established, which will create the opportunity for Hungarian labor hire companies with serious, extensive experience and a great international outlook to make skilled labor available to Hungarian companies.
The other legislation regarding the labor market allows businesses to use the wage subsidy that creates jobs in the future without any restrictions or other bureaucratic obligations in order to be able to hire registered job seekers. "Thus, we are helping all those who become or have become unemployed, their quick re-employment is thus possible without any restrictions and bureaucratic burden," he explained. The head of the department said that small and medium-sized enterprises are getting more and more credit opportunities, they have more and more to do with notaries, and in order to prevent this from being too much of a burden, the arising notary's fees will be reduced by fifty percent. In addition, the archaeological costs associated with the investments are also reduced, so that the investments are not delayed by months.
Regarding the international competitiveness of Hungarian companies, the minister said that Eximbank is launching a "discounted investment loan program" to finance the acquisitions of foreign companies by Hungarian companies. He added that Eximbank will also launch a green financing program, which will provide investment loans with discounted interest rates for Hungarian companies that prioritize environmental protection, environmental awareness, and sustainability during their investments. In addition, they will also introduce a facilitation at the Eximbank, which will make the state guarantee provided to exporting Hungarian companies, i.e. the export guarantee, cheaper.
National Press Service
(Header image:
