The government aims to build a knowledge-based economy and the strategically important Hungarian pharmaceutical industry can serve as an example in this regard, Economy and Energy Minister István Kapitány said at a conference of the Hungarian National Association of Pharmaceutical Manufacturers (MAGYOSZ) on Friday.
The minister emphasized that the Hungarian pharmaceutical industry is export-oriented and generates high added value while conducting significant research and development activities.
Industry members spend more than HUF 100 billion annually on development, and their products are exported to more than a hundred countries. Hungary ranks twelfth globally in per capita pharmaceutical exports and is twentieth in absolute terms, he added.
The government aims to see an increasing number of businesses in the Hungarian economy that evolve from small enterprises into medium-sized companies, engage in knowledge-based activities and have export capabilities. Only 5% of Hungarian SMEs export, so an environment must be created that helps domestic companies integrate into international value chains.
István Kapitány pointed out that the government will continue to support foreign corporate investments, while also expecting greater added value, knowledge transfer, and the strengthening of cooperation between universities and vocational training institutions. He noted the importance of multinational firms assisting Hungarian suppliers in development and access to export markets.
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