Aluminium die casting producer started capacity expansion project in Northern Hungary

The Government aims to stimulate market participants to create new jobs where they are needed most, Minister for National Economy Mihály Varga said at the opening of a capacity expansion project by Fémalk Fémöntészeti és Alkatrészgyártó Zrt in Erdőhorváti, Northern Hungary.

As the Minister added, this goal has been underpinned by Government measures: tax cuts, amendments to labour law and other regulatory incentives. Hungary can close the economic gap with highly developed countries only if our enterprises are sound and capable of progress, therefore

the Government is assisting companies’ advancement through, among others, an industrial development programme and EU funds.

One of these schemes is the Large Enterprises Investment Support Programme, through which the Government assists domestic enterprises of real market potential to preserve and bolster their marker position, Mihály Varga pointed out.

Speaking of economic achievements in recent years, the Minister said that private sector job growth registered in the first half of the year had been unprecedented in more than one-and-a-half decades: payroll numbers increased by some 60 thousand year-on-year at enterprises with at least five employees.