October 1, 2019 / 8:20 AM / 16 days ago

Hungary to remove new jobs condition for investment subsidies -minister

BUDAPEST, Oct 1 (Reuters) - Hungary’s government in October will eliminate the need to create new jobs as a condition for private sector investments receiving cash subsidies, shifting the focus instead to technology and innovation, the foreign minister said on Tuesday.

“If companies in Hungary introduce new technology, bring in new machinery, introduce new processes to maintain or upgrade competitiveness without creating new jobs they are eligible for the same cash incentive up to 50% of the volume of the new investment,” Foreign Minister Peter Szijjarto told a conference. (Reporting by Gergely Szakacs and Krisztina Than, Editing by William Maclean)

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