HUF 7 Billion Tender Announced To Support Fashion & Design Industry In Hungary

  • 25 Nov 2020 8:09 AM
  • Hungary Matters
HUF 7 Billion Tender Announced To Support Fashion & Design Industry In Hungary
The government has announced a 7 billion forint (EUR 19.4m) tender to support the competitiveness of Hungary’s fashion and creative industry, in view of the sector’s growing role in international markets and its “world-class quality”, a government official has said.

Fashion and design firms can apply for funding between 5 and 150 million forints for technological developments, wage subsidies as well as marketing and legal services, Balázs Rákossy, the state secretary for the utilisation of EU funding, told MTI.

The government will waive repayment of the funding if the company fulfils predetermined targets, Rákossy said. The scheme is expected to help some 200 companies, he added. Applications will be accepted from January 5, 2021, he added.

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