Finance Minister Mihaly Varga – Photo: MTI

Varga: Government unveils HUF 137 billion tender for corporate R and D

The government is devoting "an exceptionally high amount" of 137 billion forints (EUR 383m) to boosting the research and development of Hungarian companies, the finance minister said on Friday.

The number of companies that may take advantage of the tender could reach 300, Mihaly Varga said in a video on Facebook, adding that the scheme was part and parcel of relaunching the economy and staying competitive in a changing global economic environment.

Companies forming new products, technologies or services can apply for the government grants. Innovation, industrial research and asset acquisitions are also among the scheme’s competitive criteria, he added.

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