The core objective of the new Széchenyi Plan is to create one million (legal) jobs in ten years, the 200-page consultative paper unveiled by the Ministry of the National Economy showed today.

The government is now awaiting proposals from SMEs and local governments as to how the programme should work.

The document claims that of the HUF 7,870 bn EU funds earmarked for 2007-2013, only some HUF 1,830 (23%) remain available. There are HUF 1,480 bn worth of projects underway and HUF 4,127 bn worth of projects on which Hungary already has obligations.

There are HUF 155 bn funds available for immediate access for SMEs. The government will contemplate the withdrawal of projects worth HUF 477 bn. It has already freed funds of HUF 41 bn after the revision.

The seven "breakout points" named in the consultative paper as the focus of the programme are the following:

1.) Health industry (curative-preventive healthcare, rehabilitation, R&D, biotechnology, medical equipment manufacturing, spas, etc.)
2.) Green economy (renewables, geothermal energy, biotech R&D, etc.)
3.) Home building programme
4.) Development of the business environment (stable economic, business and tax environment)
5.) Science and Innovation (R&D spending aimed to reach 1.5% of GDP by 2015)
6.) Employment (create jobs, boost employment, activity rate, etc. - main objective: one million new jobs in ten years)
7.) Transport - Transit economy (logistics, haulage, logistics development, etc.)"

Source: Portfolio Online Financial Journal