Hungary to remove new jobs condition for investment subsidies

BUDAPEST - Hungary’s government will offer cash subsidies from October for private sector investments that use innovative technology, dropping a requirement that jobs must be created, the foreign minister said on Tuesday.

With a scarcity of workers limiting its old economic model of attracting foreign investment with cheap labor, Hungary is looking to transform itself into a capital-intensive economy to sustain high levels of growth. “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.

Szijjarto said that with no more than 5 million available workers, Hungary, which is strongly opposed to immigration as a cure for labor shortages, had to transform its incentive system for investments.

CLEVER.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Deutsche Post plans new investment as ecommerce boomsDeutsche Post DHL set a new target for an operating profit of 5.3 billion euros ... When would you invest your STRONG WILL-POWER to quit Smoking, Alcohol, Drug, PORN, Premarital Sex and Extramarital Affairs Please GROW-UP till the level of CHILDREN. We have very less time to become a GOOD HUMAN BEING. Please try to do it FAST. When would you invest your STRONG WILL-POWER to quit Smoking, Alcohol, Drug, PORN, Premarital Sex and Extramarital Affairs Please GROW-UP till the level of CHILDREN. We have very less time to become a GOOD HUMAN BEING. Please try to do it FAST.
Herkunft: Reuters - 🏆 2. / 97 Weiterlesen »

'If you opt in, we will not leave you behind' — PwC's global chairman announces a $3 billion investment in job trainingPwC, the global professional services firm, is investing $3 billion over the next few years into job retraining, which it sees as a competitive edge.
Herkunft: BusinessInsider - 🏆 729. / 51 Weiterlesen »