Hungarian Economy Minister talks about the future

Committee hearings in the Parliament

The work of the parliament is organized in committees. The new parliament has 20 committees, and they spent Monday and Tuesday listening to the thoughts and plans of ministers to be. Once the committees approved each candidate, they were inaugurated and started their work as ministers.

István Kapitány, Minister of Economy and Energetics

During his committee hearing, István Kapitány, former Global Executive Vice President of Shell who has worked in high-level positions globally, talked about how he sees Hungarian economy. One important statement was that the key to an economy’s success is stability and predictability. This, alongside the impending end of the rule by decree, means that we are expecting a focus on predictable legislation and an end to overnight unexpected changes.

Kapitány also emphasized the importance of trust in legislative powers. Significant changes should be made through transparent processes, preceded by public dialogue and thorough consideration for how each change will impact stakeholders. As a result, some measures currently in force will probably remain in effect for a bit longer, until the new government has a chance to conduct these dialogues.

Some of the other key areas Kapitány mentioned during his committee hearing included making Hungary more friendly to innovation and startups. He also mentioned the administration currently required from businesses, and how the volume of that should be reduced to allow better focus on economic growth.

Good news for Hungarian economy

Stability, predictability, fair competition, and trust – these are the key elements of the new government’s plans for Hungarian economy, making it friendly not only to Hungarian, but also to foreign investment.

Helpers by your side

Helpers Hungary has been assisting foreigners living, working, and doing business in Hungary for 20 years. We always keep an eye on legislative developments relevant to business setup and immigration so we can provide our clients with up-to-date insight. Should you need help in Hungary, you can always trust our experts to come up with custom solutions for you.

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