On November 20, we welcomed Minister of Foreign Affairs and Trade Péter Szijjártó to our Business Forum.
The minister addressed global political and economic developments and presented the Hungarian Government’s plans to stimulate economic growth. He introduced a renewed Foreign Direct Investment (FDI) strategy and incentive scheme, designed to attract projects that prioritize innovation, automation, R&D, digitalization, and added value in Hungary’s economy. The strategy also emphasizes renewables and energy efficiency as key focus areas.
As part of these efforts, Minister Szijjártó highlighted that R&D-based grants are now accessible to a broader range of companies, including those with at least 100 employees, with the maximum grant amount raised from EUR 15 million to EUR 25 million.
The Business Forum also celebrated the renewal of the AmCham-HIPA Cooperation Agreement. Marking its 10th anniversary, the renewed agreement underscores our shared commitment to fostering policies that promote business growth and innovation.
AmCham, which has long advocated for transitioning the economy from a quantitative to a qualitative focus, views the new strategy presented by the Minister as a significant step forward. The updated FDI strategy, favorizing higher-value-added investments, not only benefits corporations but also has the potential to elevate Hungary’s economy to a more advanced and competitive position. This collaborative approach reflects the shared commitment of policymakers and businesses to fostering sustainable economic growth. AmCham’s Recommendation Package, shared with key stakeholders, emphasizes these priorities and underlines the importance of aligning policy with business needs. AmCham remains dedicated to channeling feedback from the business community to ensure that policies support a sustainable and competitive business environment over the long term.
The government’s readiness to negotiate a U.S.-Hungarian Double Taxation Treaty is also welcomed. AmCham continues to stress the importance of this agreement across various platforms, highlighting its potential to enhance bilateral economic ties and provide significant benefits for businesses in both countries.