Gov’t Supports Hungarian Businesses Entering Foreign Markets, Says Orbán

  • 15 May 2024 7:08 AM
  • Hungary Matters
Gov’t Supports Hungarian Businesses Entering Foreign Markets, Says Orbán
A crucial component of the Hungarian government’s industrial strategy is to provide incentives to Hungarian businesses entering foreign markets, Prime Minister Viktor Orbán said at the inauguration of a MOL complex in Tiszaújváros, in north-eastern Hungary.

Currently 12,000 Hungarian companies are active abroad or make products for export, he said. The government’s industrial strategy “is a good one”, Orbán said, adding that MOL had an important role. “Just like MOL, the industrial strategy is ambitious … but with both feet on the ground,” he said.

MOL, Orbán said, “has taken the same path as the Hungarian economy, having a single focus 20 years ago, trading in crude oil; now it is spreading in the region, it has a biogas and diesel plant, it has entered the haulier market and it has become a crucial player in waste management.”

The company’s new polyol plant will produce the “Swiss knife of plastics manufacturing”, good for the automotive industry, furniture production, the construction sector and textile manufacturing, he noted.

The prime minister noted that MOL already had two plants in Tiszaújváros, built with support from Japanese investors, while the new polyol plant had taken over technology from Germany’s Thyssenkrupp.

“MOL is Hungary’s largest and most successful company … when they build something … it is built solid,” Orbán added.

Orbán: Govt to Import 'Developed' Industries 

Prime Minister Viktor Orbán pledged to introduce the most developed industries to Hungary at the inauguration of a MOL complex in Tiszaújváros, in north-eastern Hungary.

Orbán said the country’s electricity demand would increase by 50% by 2030 due to the new industries.

“We will have Eastern and Western car plants, technologies and production capacities to store green energy, we will participate in space research and link Hungary to the [international] bloodstream of the most modern information technologies,” the prime minister said.

In addition, Hungary has ambitions to build the most modern defence industry in Europe, and develop its food, pharmaceutical and chemical industries to a higher level, he said. Orbán said the government’s industrial policies would ensure that the industry was supplied with sufficient energy and a well-trained labour force.

Concerning the Tiszaújváros plant, he said value-added jobs were being created, “providing a secure, predictable future for 300 people”. Hungary is in the process of diversifying its energy resources. Hungary will import gas from Qatar, buy green energy from Azerbaijan, increase its solar energy capacities, while the upgrade of the Paks power plant is under way, he added.

Meanwhile, Nagy Discusses Europe Plan to Speed Up Electric Car-Making With German Company Bosses

Márton Nagy, the national economy minister, has discussed the transition to electric vehicles and related matters with German car industry executives over the past two days.

He met Audi chief executive Gernot Dollner, BMW board member Frank Weber, and Mercedes vice president Eckart von Klaeden, the ministry said in a statement.

Ahead of Hungary’s turn at the EU rotating presidency, they discussed the competitiveness of the German and European automotive industry, especially regarding the electric vehicle industry and the transition to electric vehicles, and agreed that electric cars would be an inextricable part of Europe’s future.Cooperation between Hungary and the German automotive industry played a decisive role in this, the statement said.

Nagy stressed the need for an action plan to speed up the adoption of electric cars and fulfil the 2035 green transition, covering the whole of Europe. Related infrastructure such as a long-distance, fast and hassle-free continental network must be developed with EU and private investments, they agreed.

The officials also discussed reforming the regulatory environment to ensure more fast charging points along the trans-European transport (TEN-T) network installed every 50 kilometres. Another goal would be to locate fast charging points at many petrol stations on the continent, the statement added.

They also agreed on the need for an EU incentive scheme for car purchases aimed at both manufacturers and customers, and this would require changing rules on state support.

In addition, Nagy advocated providing support for the trade of used electric cars by developing new standards. A draft of the action plan will be presented to EU member states as a white paper at the meeting of the Competitiveness Council on July 8-9 under the Hungarian EU presidency, the statement said.


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