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Hungary must work to regain position
( 25 / November / 2004 )
Source: Budapest Sun
Kóka, the former head of several IT ventures and ex-chairperson of the Hungarian IT Association, told the Hungarian International Press Association that with the slowdown in the EU economic area, Hungary would seek out export markets in areas such as the Far East and south-east Asia, as well as enhancing its position in countries like the US and Russia.
But more crucially, European Union aid presents Hungary with a "major challenge" in terms of absorption capacity.
First, between 2004-2006 Hungary aims to attract some Ft1,300 billion ($6.9bn) for development within the framework of EU structural funds.
However, the second tranche of EU funding, coinciding with the period 2007- 2013, the next planning period of the Union, presents Hungary with even bigger challenges. In that time, Hungary expects to attract and absorb some Ft10,000 billion ($52.8bn) in total from the Union (including the Hungarian co-funding portion).
"Mapping out the [economic] story of Hungary for the next 15 years [is vital]. Utilizing these funds is the biggest opportunity Hungary has had for 100 years," he said. Kóka said the new leadership team that he had assembled consisted primarily of professionals, not politicians, to achieve this goal.