However, it matters significantly whether they supply parts for electrically powered vehicles or for traditional vehicles. This transition requires significant economic development.

László Parragh believes that we are not in an era of number wars, and it's essential to highlight the positive data from the Hungarian economy / Photo by Zoltán Vémi / World Economy

WE ARE NOT IN AN ERA OF NUMBER WARS

Boglárka Bánné Gál, the chair of the county assembly, emphasized their goal to operate a county that is attractive to investors and capable of retaining its population.

László Parragh, the president of the Hungarian Chamber of Commerce and Industry, started his opening speech by stating that we are not living in an era of number wars. Thus, it is crucial to highlight the positive aspects of the Hungarian economy, such as:

- Employment

- Performance

- The country's capability to attract capital

The chamber plays an increasingly vital role in supporting and developing small and medium-sized enterprises (SMEs), taking on the role of a bridge between politics and the market.

Parragh pointed out that for a long time, there was a belief that the market could solve everything and regulate itself in all aspects. However, this notion is mistaken: large companies can easily abuse their market dominance, and if the state does not intervene in certain areas, the outcome is an increased tax burden on specific sectors.

The chamber is proactive towards politics, aiding in its regulatory role.

In terms of employment, the 30-50 age group in Hungary significantly surpasses EU numbers, but we are slightly behind when it comes to young people, highlighted Sándor Czomba, the secretary of state responsible for employment policy. Therefore, it's necessary to target both the younger and the older age groups in labour market mobilization. This approach could increase the employment rate from 80% to 85% by 2030, thereby ensuring sustainability.

Sadly, due to the unique demographic characteristics of Hungary, the local economy loses a significant number of workers annually. By 2030, it's expected that 300,000 workers will drop out of the labour market. This could only be balanced if each family had an average of 2.3-2.4 children. Currently, this figure stands at 1.5, and according to Czomba, this is still a reason to be grateful, as it has increased from 1.3.

Therefore, in the coming period, it will be necessary to import labour from third countries, although the secretary stated this would primarily suit the operations of large corporations. Small and medium-sized enterprises will continue to predominantly provide job opportunities for Hungarian workers. Thus, this sector remains incredibly important for politicians.