The healthcare industry, together with the newly created capacities, is expected to generate a value of HUF 500 billion per year - declared Mihály Varga at the exhibition of Hungarian enterprises participating in the Healthcare Support Program (ETP) organized in Székesfehérvár.

"Hungary's health care cannot depend only on foreign suppliers."

The Minister of Finance emphasized that the new investments will allow the sector to grow by one and a half times compared to before the program, and that the country's self-sufficiency in the future cannot depend only on foreign suppliers. In the crisis situation caused by the coronavirus, we achieved high technological development in an area that is clearly the strategic industry of the future, Mihály Varga said. The health industry not only strengthens the long-term growth ability of the economy, but also significantly contributes to Hungary's export performance and competitiveness at the European level - explained the head of the ministry, adding that the new investments created in the ETP are expected to generate HUF 180 billion in annual sales revenue.

Mihály Varga pointed out at the event: the Health Industry Support Program therefore goes well beyond its primary goal, which was to create the health security of the Hungarian people and the security of the supply of the domestic health industry. Thanks to the program, among other things, investments have been made that allow us to cover the raw material needs of the protective equipment manufacturers in the entire region. In addition, the domestic production of Favipiravir tablets, an effective medicine against the coronavirus, and 40 million medical pipettes used for laboratory tests per year have been ensured, as well as developments that have made us self-sufficient in the production of masks and disinfectants, the Minister of Finance listed.

Within the framework of the Health Industry Support Program, the government in 2020 and 2021 supported domestic health industry production in 67 locations with a total of HUF 67 billion in non-refundable development resources, contributing to HUF 87 billion in development.

Source: magyarhirlap.hu

Featured image: Government of Hungary