New compensation scheme for large enterprises
2020. 09. 23.
In line with the approval of the European Commission on June 23, 2020, a new compensation scheme has been introduced by the Ministry for Foreign Affairs and Trade, managed by the Hungarian Investment Promotion Agency (HIPA). The new scheme is available from July 6, 2020 for large companies based on the amendment of Decree 7/2020 (IV.16) of the Ministry for Foreign Affairs and Trade on the subsidy to improve competitiveness required as a consequence of coronavirus situation and the introduced administrative measures.
The coronavirus outbreak has a severe economic impact that resulted in declining revenues and operating profit. Therefore, Hungary has adopted a new compensation scheme that compensates the affected undertakings for the damage caused by the COVID-19 outbreak and administrative measures adopted with the intention to minimize the spread of the virus.
The compensation will be granted in the form of non-refundable cash grant for those companies that are willing to contribute to economic recovery of Hungary. Hungary has allocated a budget of HUF 50 billion from national resources for the realisation of the aid scheme.
For further information about the program, please refer to our presentation by clicking here.
Sector articles
The Hungarian Investment Promotion Agency (HIPA) achieved outstanding results in 2024, with investment capital inflow into the Hungarian economy exceeding the EUR 10 billion mark for the second year in a row. HIPA CEO Mr. István Joó highlighted that the results ...
2025. 01. 16.
HIPA #HIPALeading investment platform AIM Congress gathered renowned FDI stakeholders from all over the globe in Abu Dhabi yet again where HIPA was presented the AIM Investment Award for the Central, Eastern Europe & Turkey Region.
2024. 05. 27.
HIPA #HIPAAmerican companies form the fourth largest investor community in our country, and economic relations stand the test of time. Hungary does everything to ensure that US businesses would continue to bring FDI here, stressed HIPA CEO Mr. István Joó at AmCham Hungary...
2024. 05. 13.
HIPA #HIPA