The dimensional change of the Hungarian economy has accelerated in the past year and a half despite the coronavirus epidemic, which can be seen from the fact that projects based on research and development (R&D) represent an ever-increasing share of investments, Minister of Foreign Affairs and Trade Péter Szijjártó stated on Tuesday.
The portfolio manager took part in the dedication ceremony of the research and development center of the biotechnology company Soft Flow Kft. in Pécs.
FOR THE TWO BILLION HUF INVESTMENT, THE STATE PROVIDED A SUBSIDENCE OF ABOUT HUF 770 MILLION, AND AS A RESULT OF THIS, THE COMPANY WILL CREATE 90 NEW JOBS IN ADDITION TO THE EXISTING 31.
According to the announcement, he emphasized in his speech that the government has mobilized and is mobilizing significant resources in order for the production-oriented economy to advance at least one step as soon as possible and become an economy driven by research and development.
Source: Pécs Stop
According to his words, despite all kinds of contrary global influences, even during the pandemic, it was possible to speed up this process.
Where the technologies of the future are developed, there is a high probability that the economic capacities of the future will also be developed," he emphasized, adding that for this reason, HUF 182 billion will be allocated from the budget to innovation, a larger amount than ever before.
He underlined: last year, both the public and private sectors spent roughly 10 percent more on research and development than in 2019. And in ten years, the increase was about 60 percent.
Péter Szijjártó welcomed the extremely high added value investment made by the Danish FOSS group. He pointed out that the company has subsidiaries in 32 countries, so there was significant international competition for development. He also reported that
80 PERCENT OF THE GRAIN ON THE WORLD MARKET AND 85 PERCENT OF THE MILK ARE INSPECTED WITH THIS COMPANY'S INSTRUMENTS.
According to him, this means that "an investment that dictates the pace of the entire world economy in the field of food safety has been lured to Hungary".
He stated that the government "somehow imagines the future of higher education as shown by the excellent cooperation between Soft Flow Kft. and the University of Pécs". They consider it important that the closest possible cooperation is established between higher education and the economy.
The minister called the government's strategy focused on keeping jobs and encouraging investments a success. As he said, during the "black year and a half of the global economy", the investment and employment peak, as well as the highest ever quarterly economic growth record, were broken in Hungary.
Source: origo.hu
Featured image: mfor
