“The Hungarian economic model is enabling private sector enterprises to undertake a greater role in the realisation of major international development goals”, Minister of Foreign Affairs and Trade Péter Szijjártó declared in New York on Monday at a conference on the topic.

At the conference, which was held on the sidelines of the session of the United Nations General Assembly, the parties discussed the innovative solutions with which the private sector can become involved in the realisation of sustainable development goals (SDGs). The 17 main goals included in the development programme, which will run until 2030, include combatting poverty, developing education, equal opportunities, boosting the economy, international partnership and environmental targets.

In his speech, Mr. Szijjártó highlighted the fact that there are deep and comprehensive changes going on in the world that require new capabilities and levels of expertise. “New challenges must be met at both state level and within the private sector, and in the new economic world order it is the state’s responsibility to provide the private sector with the necessary support”, he said. “According to the Hungarian model, financial stability and economic growth must work together, while helping each other. This is why the Hungarian Government is maintaining the lowest tax rates in Europe. This enables enterprises to engage in, amongst others, new research projects, the development of new technologies and vocational training. In Hungary, the dual training system enables private sector enterprises to become involved in education at the earliest possible stage. Quality education is also one of the 17 main goals, and Hungary spent an outstandingly high amount on this last year, some 60 million dollars”, the Minister explained.

Mr. Szijjártó also highlighted water management from among the main sustainable development goals, on which the Hungarian budget also spent a significant amount last year: 20.5 million dollars. “144 million dollars were spent on the development goal that includes global partnership. By doing so, Hungary is, amongst others, playing its part in international efforts aimed at supporting African countries”, the Minister of Foreign Affairs and Trade said.