Hungary sees Romania as one of its most important business partners, and has a vested interest in strengthening mutual cooperation, Péter Szijjártó, Hungary’s minister of foreign affairs and trade, said at the opening of a Hungarian-Romanian business forum in Budapest.
At the forum attended by 80 Hungarian and 66 Romanian companies, Szijjártó said Hungarian economic policy was based on low taxes, with the lowest corporate taxes in Europe, and a competitive PIT. Meanwhile, the Hungarian government’s crisis management efforts focus on boosting investments rather than handing out money to those in need, he said. This has led to Hungary avoiding mass unemployment rather than having to handle it, he said.
Government grants supported 1,434 companies in Hungary last year, which have pledged to preserve some 270,000 jobs and investments worth a total of 1,676 billion forints (EUR 4.7bn), he said. Four Romanian companies have also received 2.7 million euros in Hungarian government grants, he said. The government also supports Romanian companies in capital allocation, and the Hungarian Eximbank has opened a 440 million euro credit line to support cooperation between Hungarian and Romanian companies, Szijjártó said. Meanwhile, Hungarian companies see Romania as one of the most promising fields of investment, he added.