The Business Chambers Forum, which comprises representatives from the Hungarian Chamber of Commerce and Industry (MKIK), the National Association of Entrepreneurs and Employers (VOSZ), the Confederation of Hungarian Employers and Industrialists (MGYOSZ), the National Federation of Hungarian Building Contractors (EVOSZ), AmCham Hungary and the German-Hungarian Chamber of Industry and Commerce (DUIKH) met for the sixth time since its establishment early in 2023, the National Economy Ministry said in a statement.

The sides discussed the economic situation, especially the performance and competitiveness of the Hungarian economy, as well as domestic and international trends affecting consumption, it added.

National Economy Minister Marton Nagy asked the business chambers to play a role in strengthening local SMEs and help draft an action plan to support those businesses.

He said the plan included changes to the Szechenyi Card Programme favourable to businesses, the launch of a capital programme supporting SME investments and competitiveness, a credit scheme to boost SME exports, a loan and capital programme for SME investments abroad, a targeted "1+1" programme for SME investments, a digitalisation package that would ensure all SMEs have their own website and email address, a European Union-funded business development programme and a scheme to support corporate purchases of electric vehicles.

He added that SMEs also needed a scheme to support big investments based on one-off government decisions, such as the one for large companies.

The sides agreed that the statutory minimum wage level could realistically reach 50pc of the average wage by 2027, but would require the minimum wage to rise 11-12pc per year, on average, in the coming three years.

Mr Nagy acknowledged the chambers for their partnership with the government, for constructive dialogue, and for their recommendations and feedback.

He said a new state secretary for SMEs would be named to ensure the action plan had the broadest impact.

He added that Hungary's GDP growth could reach 3-5pc in 2025.

Photo for illustration purposes only

Source: 
MTI - The Hungarian News Agency, founded in 1881.

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