FOOD INDUSTRY IN HUNGARY

FOOD INDUSTRY IN HUNGARY

HUNGARY SMART. AMBITIOUS. COMPETITIVE.

Food Industry in Hungary 5 FOOD INDUSTRY 4 CONTENT 6 ABOUT HUNGARY 14 FOOD INDUSTRY IN HUNGARY 26 LABOUR FORCE 32 LOCATION 42 HUNGARIAN INVESTMENT PROMOTION AGENCY (HIPA) Published by the Hungarian Investment Promotion Agency, HIPA All rights reserved HIPA, 2018 www.hipa.hu

Food Industry in Hungary 7 ABOUT HUNGARY MAIN FIGURES FORM OF GOVERNMENT PARLIAMENTARY REPUBLIC CURRENCY FORINT (HUF) GDP (PPS) EUR 192,855 MILLION (2016, HCSO) GDP GROWTH 4.0% (2017, HCSO) AREA 93,023 m 2 TIME ZONE GMT + 1 HOUR HUNGARY INFLATION 2.4% (2017, HCSO) POPULATION 9,797,561 (2017, HCSO) CAPITAL BUDAPEST POPULATION 1,752,704 (2017, HCSO) OTHER MAJOR CITIES POPULATION Debrecen (201,981) Szeged (161,137) Miskolc (157,177) Pécs (144,675) Győr (129,301) CLIMATE TEMPERATE (similar to the rest of the continental zone) RISK OF NATURAL DISASTERS VERY LOW MEMBERSHIP IN INTERNATIONAL ORGANISATIONS EU, UN, OECD, WTO, NATO, IMF, EC EU member since 2004 (Source: HCSO = Hungarian Central Statistical Office)

Food Industry in Hungary 9 ABOUT HUNGARY FDI IN FOCUS Hungary is an open economy where particular emphasis is placed on encouraging foreign direct investment (FDI). Partnership with potential investors is a national priority; special attention is paid to the needs of companies already settled in Hungary, and to the further improvement of the business climate. YOU CAN COUNT ON THE GOVERNMENT S COMMITMENT TO FURTHER IMPROVE THE BUSINESS CLIMATE 66% HUNGARY 62% CZECH REPUBLIC 51% SLOVAKIA 40% POLAND 32% SLOVENIA Inward FDI stock amounted to 66% of the GDP (2016) the highest ratio in the region. Source: wiiw FDI Database

Food Industry in Hungary 11 ABOUT HUNGARY BUSINESS ENVIRONMENT...has modified its taxation and incentive system related to R&D activities to make Hungary the innovation hub of CEE. INVESTMENTS IN FOCUS IN ORDER TO IMPROVE THE BUSINESS CLIMATE THE HUNGARIAN GOVERNMENT... is committed to further reduce taxes on employment....is helping companies to function reliably by providing a clear agenda on economic development and FDI strategy....offers companies a strategic partnership, and provides them with fast access to the Government....further improved the practice-based dual education system built on industry needs....has introduced a new incentive scheme supporting technology intensive investments....has created the most competitive CIT in the EU with 9% flat rate....has introduced its unique economic development plan based on Industry 4.0 requirements.

Food Industry in Hungary 13 ABOUT HUNGARY QUALITY OF LIFE HUNGARIAN PARLIAMENT BUILDING ranked 10 th in world's top 10 landmarks for 2018 by TripAdvisor EXPLORE THE COUNTRYSIDE Hungary s diverse countryside offers a wide range of outdoor activities: 11,000 kilometres of hiking routes; more than 4,000 kilometres of cycle paths; 14 golf courses; 10 national parks; and many protected nature reserves for those in love with fresh air. The protected Pusztaregion, the Great Plain, the romantic Danube Bend with its historic sites, and pretty baroque towns, such as Eger, attract visitors all over the year. Lake Balaton, the largest fresh water lake in Central Europe, is a perfect holiday resort. HUNGARY ranked among the TOP5 COUNTRIES in the BOCUSE D'OR competition in 2017 GASTRO STORY The dining scene in Budapest is livelier than ever, practically you can find the cuisines of every culture in the capital, from high-end Michelin-star restaurants to no-frill eateries, small bistros and must-try food trucks. EXPATS LIKE HUNGARY Budapest is a city full of surprises and wonders, with its lively centre, pretty parks, majestic river, tall church spires, and lavish spas. One of the most exciting cities in the world, Budapest is full of secrets, hidden spots to explore, and old favourites to revisit. This is the city where being bored is not an option. INTERNATIONAL SCHOOLS Expatriates looking to stick with the curricula of their home countries can choose from a range of private international schools for their children. There are also many English, German or French public and private preschools for children aged from three to six. The school year starts in September and ends in June, and school buses are usually available at private schools. There are many opportunities to study in a foreign language at universities too. Did you know that the kindergarten and the elementary school division of the International School of Debrecen will start to operate in September 2019 and its upper school education starts running from September 2020?

Food Industry in Hungary 15 FOOD INDUSTRY IN HUNGARY Johann Marihart CEO, AGRANA 100% GMO-FREE INGREDIENTS "AGRANA has substantial and successful affiliated companies in Hungary, since 1990 at Hungrana, since 1991 at the sugar factory Magyar Cukor in Kaposvar, and since 2002 at four apple juice concentrate plants. All of our investments are characterized by considerable growth over the years. Due to the strategic importance of this region AGRANA stood and stands clear to its investments in Hungary and does not intend to change that. Keeping Hungarian agriculture GMO-free is a matter of extremely high strategic importance. The total abolition of the utilization of GMO in the country s agriculture represents an ever-increasing competitive advantage for Hungary. The ban on GMO is laid down in the country s Constitution and in the corresponding legislation. All parliamentary parties have worked together to formulate Hungary s GMO-free strategy and the process of implementation aimed at its realisation in complete agreement.

Food Industry in Hungary 17 FOOD INDUSTRY IN HUNGARY QUALITY INGREDIENTS ARE AVAILABLE ON A LARGE SCALE GRAIN MAIZE AND CORN-COB-MIX (total production, thousand tons) 14,498 HUNGARY is a major producer of numerous agricultural products in Europe especially compared to the country s size. Source: EUROSTAT, 2017 Eurostat, 2017 (As of Eurostat data available on 21 March 2018 / 31 January 2018) http://ec.europa.eu/eurostat/tgm/refreshtableaction.do?tab=table&plugin=1&pcode=tag00047&language=en 10,000 5000 0 10,000 5000 0 6 757 3943 2450 2076 1700 1116 533 ROMANIA HUNGARY POLAND BULGARIA AUSTRIA CROATIA SLOVAKIA CZECH REPUBLIC WHEAT AND SPELT (total production, thousand tons) 11,568 9785 5801 5 237 4649 1831 1443 679 3000 2000 1000 0 3180 Among the TOP3 crop producers of the CEE region SUNFLOWER SEED (total production, thousand tons) 1 870 POLAND ROMANIA BULGARIA CROATIA ROMANIA BULGARIA SLOVAKIA CROATIA AUSTRIA CZECH REPUBLIC POLAND 1860 233 116 51 46 5 Source: EUROSTAT, 2017 HUNGARY CZECH REPUBLIC SLOVAKIA AUSTRIA HUNGARY

FOOD INDUSTRY IN HUNGARY YOU CAN COUNT ON HIGH QUALITY RAW MATERIALS The natural characteristics of the CARPATHIAN BASIN climatic conditions and soil establish the large scale production of high quality raw materials for the food industry. Food Industry in Hungary 19 *Note that watermelon and honeydew melon are listed as vegetables in the statistical tables of HCSO. Therefore they are not counted in the All gathered fruits diagram, but the All gathered vegetables diagram. **Note that sugarbeet is excluded from the fruits and vegetables tables of HCSO therefore it is not counted in the All gathered fruits nor in the All gathered vegetables diagram. FRUIT PRODUCTION (thousand tons) 2013 2014 2015 2016 Apple Sour cherry Plum and greengage Peach Apricot Watermelon* Honeydew melon* 592 70 48 44 21 190 22 780 92 45 39 23 219 12 511 77 46 37 20 196 16 497 74 48 40 24 185 20 VEGETABLE PRODUCTION (thousand tons) 2013 2014 2015 2016 Potato 478 567 452 429 Tomato 136 153 200 173 Sweet pepper 77 84 116 137 Green peas 68 88 95 111 Carrot 67 84 78 91 Onion 60 62 60 62 White cabbage 67 60 65 53 Sugarbeet** 991 1067 911 1121 1500 1000 500 2000 1500 1000 500 ALL GATHERED FRUITS (thousand tons) 850 1040 778 755 2013 2014 2015 2016 ALL GATHERED VEGETABLES (thousand tons) 1601 1626 1514 1441 Source: HCSO Source: HCSO 2013 2014 2015 2016

Food Industry in Hungary 21 FOOD INDUSTRY IN HUNGARY The geographical fragmentation and wide range of climatic conditions within the country constitute a source of diversity of production and establish a rich choice for processing. 2000 1500 RAW COW MILK PRODUCTION (million liter) 1826 1890 1868 1726 1000 Source: HCSO 2013 2014 2015 2016 POULTRY STOCK (thousand pieces) 50,000 30,000 37,900 38,599 40,334 40,185 Source: HCSO 15,000 2013 2014 2015 2016

FOOD INDUSTRY IN HUNGARY MOST RELEVANT SEGMENTS OF THE HUNGARIAN FOOD INDUSTRY YOU CAN COUNT ON THE HUNGARIAN FOOD INDUSTRY'S EXPERIENCE Food Industry in Hungary 23 1 meat processing and preserving 2 mineral water, soft drinks, alcoholic and other beverages 3 pet food and feed production 4 milk processing, dairy products 5 sweets, snacks, convenience and other foods 6 fruit and vegetable processing and preserving Source: HCSO FATS Statistics, Manufacture of food products and beverages 2015 * Please note that due to lack of available data on beverages sector in the UK and the Czech Republic, the graph incorporates only the food segment for this two countries. DISTRIBUTION OF THE PRODUCTION VALUE OF FOREIGN AFFILIATES IN THE HUNGARIAN FOOD SECTOR BY CONTROLLING COUNTRY, 2015 7% Italy 7% Netherlands 3% Belgium 3% Czech Republic* 8% France 9% Germany 2% UK* 3% Other countries 17% Austria 22% Switzerland 18% USA Regina Kuzmina Managing Director Unilever Hungary Ltd. The country s superb geographical location, skilled workforce and qualified professionals all contribute to the prosperous operation of the Budapest HQ and the three factories creating 1,550 workplaces. Our company considers Hungary to be one of its strategic production centres, and throughout the past 27 years, we carried out significant investments in the country.

Food Industry in Hungary 25 MAJOR FOOD INDUSTRY COMPANIES BY LOCATION IN THE MOST IMPORTANT BRANCHES Pilisvörösvár SZAMOS Érsekvadkert AGRANA Dunakeszi SCITEC NUTRITION Gyál EISBERG Szikszó HELL ENERGY Sátoraljaújhely CONTINENTAL Kisvárda MASTER GOOD Sopron HEINEKEN Bük NESTLÉ Meat processing Beverages Pet food and feed Milk processing Sweets, snacks and convenience food Fruit, vegetable and grain processing Tobacco Jánossomorja HAAS DR. OETKER Csorna SOLE-MIZO Sárvár SÁGA FOODS Zalaszentgrót COCA-COLA Győr HAAS INTERSNACK MONDELEZ Pápa Veszprém PÁPAI HÚS HARIBO UNILEVER Siófok SIÓ-ECKES Dombóvár PARTNER IN Marcali PET FOOD SOLE-MIZO Kaposvár AGRANA KOMÉTA CARGILL Pécs BAT Budapest DREHER RAUCH ZWACK Bicske SPAR Székesfehérvár ALFÖLDI TEJ MONDELEZ Alsómocsolád PICK Szekszárd TOLNATEJ Mohács MCS Szabadegyháza AGRANA Dunaharaszti COCA-COLA Szalkszentmárton AGROFEED Foktő GLENCORE Baja PICK Csávoly MOGYI Bácsbokod SOLE-MIZO Albertirsa MIRELITE MIRSA Kecskemét UNIVER GALLFOOD FORNETTI Eger EGERTEJ HESI DETKI Kőröstetétlen KŐRÖSTEJ Nagykőrös BONDUELLE Csongrád MARS Kiskunfélegyháza PINI GROUP KUNSAGI EDEN Röszke UNILEVER Kiskunhalas HUNENT Miskolc NESTLÉ Bőcs MOLSONCOORS Tiszafüred LACTALIS Martfű BUNGE Szarvas GALLICOOP Szentes HUNGERIT Szeged PICK SOLE-MIZO Szerencs NESTLÉ Karcag CARGILL AGROSPRINT Makó GIVAUDAN Nyírszőlős BONDUELLE Hajdúsámson AGRANA Nyírmada RAUCH Békéscsaba BONDUELLE Debrecen TRANZIT-FOOD ALFÖLDI TEJ POPZ Vásárosnamény AGRANA Nyírlugos AGROSPRINT Mátészalka FRIESLAND CAMPINA

LABOUR FORCE PRODUCTIVITY AVERAGE GROSS EARNINGS IN 2016 (EUR/MONTH/PERSON*) Food Industry in Hungary 27 YOU CAN RELY ON GLOBALLY ACKNOWLEDGED HUMAN CAPITAL AT A COMPETITIVE COST 1944 Manufacturing and mining manager 1175 Food industry engineer 1352 Chemical engineer 1381 Chemist Minas Agelidis General Manager Coca-Cola HBC Hungary 842 Food industry technician 594 Butcher 594 Baker, confectioner Source: National Labour Office - HUF/EUR=309.9 *The wages are dependent on the region, on the skills and on the experience of the employees. 717 Food and beverage products machine operator 674 Packaging, bottling, and labelling machine operator Excellent people in an excellent business destination - this is what Hungary means to our company. We are committed to Hungary since 1968 having invested more than HUF 120 billion only in the last two decades in our production capabilities. The production, transportation and sales of our drinks including our employees provide jobs for nearly 13,000 people and two-thirds of the raw materials used for the production of beverages are provided by local suppliers. We export products to 25 countries so Hungary has become a major regional hub in the Coca- Cola Hellenic group. And we are determined to go even further "

Food Industry in Hungary 29 LABOUR FORCE EDUCATION 10 INSTITUTIONS OF HIGHER EDUCATION are engaged in food industry related programs. Several additional universities provide agriculture, biology, chemistry and health related BSc, MSc courses and higher-level vocational trainings as well. EDUCATION Hungary has a strong and highly differentiated system to develop skills and competencies required by the food industry. MOSONMAGYARÓVÁR Széchenyi István University BUDAPEST Semmelweis University GÖDÖLLŐ Szent István University GYÖNGYÖS Eszterházy Károly University NYÍREGYHÁZA University of Nyíregyháza There is a traditionally strong institutional system for agricultural training, education and research. Classical trades and crafts (such as butchers, bakers, machine operators, etc.) are taught in the framework of secondary vocational training, while the system of training technicians, managers, and other mid-level professionals can only be entered by students having completed secondary vocational or grammar schools. KESZTHELY University of Pannonia PÉCS University of Pécs SZEGED University of Szeged KECSKEMÉT John von Neumann University DEBRECEN University of Debrecen *As of February 2018

Food Industry in Hungary 31 LABOUR FORCE EDUCATION Hungarian basic research is internationally recognized, and applied research has produced a number of new products and technologies. The main focus of agriculture related scientific studies is on developing climate-proof, yet GMO free crops (grains, soy and sorghum). RESEARCH Similarly to education research activities, Hungary s agriculture and food industry has a long history. Seed breeding has an important status in agricultultural research and is an integral part of each organizations on the next page. KESZTHELY Potato Research Center Bioinnovation Research and Service Center (University of Pannonia) MARTONVÁSÁR Centre for Agricultural Research (Hungarian Academy of Sciences) GÖDÖLLŐ National Agricultural Research and Innovation Centre (Vegetable Crop Research Department, Food Science Research Institute, Research Institute for Animal Breeding, Nutrition and Meat Science, Research Institute for Fisheries, and Aquaculture) NYÍREGYHÁZA Agricultural Research Institute and Educational Farm (University of Debrecen) KARCAG Agricultural Research Institute and Educational Farm (University of Debrecen) José Matthijsse General Manager HEINEKEN Hungária Sörgyárak Zrt. "Innovation is of key importance in the Hungarian added value. Finding the Hungarian small and medium sized entrepreneurs who contribute to the innovation of our technologies and products has brought real benefits for our company. Together with the high quality Hungarian agricultural raw materials, this provides our products a sustainable business growth. Western Transdanubia KAPOSVÁR Feed Crops Research Institute (Kaposvár University) Central Transdanubia Southern Transdanubia SZEGED Cereal Research Non-Profit Ltd. Southern Great Plan Northern Great Plan Central Hungary Northern Hungary *As of February 2018

Food Industry in Hungary 33 LOCATION GEOGRAPHICAL CONDITIONS Approximately 47 percent of the country s total area is covered by arable land. It is geographically significant that approximately two-thirds of Hungary s territory is flat and lie lower than 200 metres above sea level. EXCELLENT GEOGRAPHICAL CONDITIONS 47% ARABLE LAND* 66% FLAT TERRITORY Péter Noszek Market Head Nestlé Hungária Ltd. (Source: HCSO, 2017) Thanks to its three factories, market presence and significant innovation opportunities, Nestlé Hungária plays an important regional role in Nestlé s global life. Having been present for 27 years in the country, Nestlé invested more than 100 billion HUF. In 2017, we completed a 20 billion HUF expansion in our Bük pet food factory. Nestlé continues to plan ahead for long term presence that brings stability and new opportunities to the almost 2000 domestic suppliers of our company.

Food Industry in Hungary EXCELLENT TRANSPORT NETWORK LOCATION TRANSPORT NETWORK 3 TEN-T CORE CORRIDORS CROSSING HUNGARY MEDITERRANEAN ORIENT / EAST - MED RHINE - DANUBE European Commission, REGULATION (EU) No 1316/2013 O.J. L348-20/12/2013 35 AT THE CROSSROADS OF THREE TEN-T CORRIDORS HIGHLY DEVELOPED LOGISTICS & TELECOMMUNICATIONS INFRASTRUCTURE EXTENSIVE ROAD & RAILWAY TRANSPORTATION NETWORK COMMERCIAL CORRIDORS & INFRASTRUCTURE UKRAINE Záhony SLOVAKIA Vienna M30 Beregdaróc Bratislava M15 AUSTRIA M3 M2 M1 M3 M25 M49 M3 M10 M35 M0 M86 Vásárosnamény BudapestM0 M4 M8 M4 M8 M9 M44 SLOVENIA M7 M9 Mihály Karkas Head of Operations Givaudan Hungary Ltd. M60 Zagreb Hungary, and Makó was selected as the site for Givaudan s biggest green field investment because of the rich heritage of food production in the region and new infrastructure which provides easy to access the fast growing markets of Central and Eastern Europe as well as Western Europe. The excellent food industry education at University of Szeged, ensures a pool of highly skilled local employees that has been driving the site to became the flagship of Flavour Division by the end of its first five years of operation in Makó. M5 CROATIA MOTORWAYS IN HUNGARY M1: Budapest AUT M3: Budapest RO/UKR/SK ROMANIA M9 M6 M9 M43 SERBIA M5: Budapest SRB M6: Budapest Pécs M7: Budapest SLO LEGEND existing planned

Food Industry in Hungary 37 LOCATION TRANSPORT NETWORK Bremerhaven Hamburg Rotterdam Moscow Duisburg Munich Linz Vienna Salzburg Trieste H Budapest Ploiesti Arad Koper Rijeka ungary has direct connection to all significant harbours and terminals in Europe. Several main train lines connect Hungary with the main ports of Western Europe (e.g. Hamburg, Bremerhaven, Rotterdam), the Adriatic (Koper, Rijeka, Trieste), the Mediterranean (Piraeus) and the Black Sea (Constanta) with regular block train services. Chortomlyk Belgrade Constanta Piraeus RAILWAYS Scheduled block trains Nonscheduled Planned train projects Scheduled barge service

Food Industry in Hungary 39 THE HUNGARIAN RAILWAY NETWORK LOCATION TRANSPORT NETWORK RFC lines in Hungary 2016 7,712 km km HUNGARY HIGHLY DEVELOPED NATIONAL RAILWAY NETWORK T LEGEND Stations RFC 11: Amber RFC main line RFC 6: Mediterranean RFC diversionary line main line RFC7: Orient/East-Med RFC diversionary line main line he railway network spans the entire country and is an integral part of the international railway network, thus providing easy access by international express trains from the neighbouring regions and numerous other European countries. The total length of the Hungarian railway system is 7,712 km, of which 1,224 km (15.9%) is double-track, whilst the electrified railway network has a total length of 3,083 km (40%). HUNGARY IS RANKED Nr. 6 BY RAILWAY LINE DENSITY IN EUROPE *Source: Eurostat

Food Industry in Hungary 41 LOCATION INVESTMENT SITES 120 INDUSTRIAL PARKS MORE THAN 250 OFFICES ARE WAITING FOR YOUR INVESTMENT 800 GREEN- AND BROWNFIELD SITES HIPA operates an internal database of industrial parks, investment sites, and industrial halls in Hungary. The Investment Sites Database is one of the most comprehensive resources of its kind, the HIPA database is part of the information package for potential investors. LOOKING FOR INVESTMENT SITE? HIPA WILL SUPPORT YOU! Zoltán Tárkány-Szűcs Deputy Factory Director Nissin Foods Ltd. Nissin instant noodle factory based in Kecskemét is serving customer in all Europe from 2004. By delivering our brands (CUP NOODLE, SOBA, SMACK) in great quality with engaged team we could grow our business year on year. To sustain this grow we made a greenfield investment by creating two times bigger capacity factory in 2017 with over EUR 30 million investment. Nissin is confident Hungary has all human and material resources and has a good geography location for our business. The Investment Sites Database lists more than 1150 green- and brownfield sites, industrial parks and offices throughout Hungary. It simplifies the task of matching investors needs to potential locations. Searchable by size, location, available infrastructure and incentives, the database is an excellent starting point for any prospective investor.

Food Industry in Hungary 43 HIPA OUR SERVICES HOW DO WE SUPPORT YOUR FOOD INDUSTRY PROJECT? BEFORE YOU MAKE A DECISION WE OFFER YOU. AFTER YOU HAVE CHOSEN HUNGARY.one-stop-shop management consultancy services to address your business needs..tailor-made incentive offers and information packages on the business environment, labour market, tax regulations, etc.. location search & evaluation + site visits. We are open to your feedback and offer mediation between government and business based on your inputs. We support your further expansion and plans..meetings with HR & real estate agencies, law firms and other consultants based on your needs..reference visits at companies that are already established in Hungary..assistance with your incentive application. PLEASE CONTACT US Address: 1055 Budapest, Honvéd utca 20. Customer service: investment@hipa.hu Telephone: +36 1 872 6520 Web: www.hipa.hu

Food Industry in Hungary 45 HIPA INCENTIVES OVERVIEW GOVERNMENT INCENTIVES As a member of the European Union, Hungary s regulations on incentive opportunities are in accordance with the EU rules. One of Hungary s competitive advantages over other countries in the region is the Government s strong commitment to increase the competitiveness of SMEs and large enterprises in Hungary. Alongside the regulatory tools that contribute to the competitive business environment of local companies, Hungary offers wide-ranging incentives to facilitate foreign direct investments and reinvestments by local enterprises. In addition to the "Made in Hungary" type investments, increasing emphasis is being put on "Invented in Hungary" type of projects with the aim of supporting the implementation of Industry 4.0 solutions and the strengthening of Hungary as an innovation hub of Europe. From the beginning of 2017, favorable changes have been introduced in the non-refundable VIP cash grant system supporting R&D projects and technologyintensive investments. Regional grants are the most typical forms of incentives for greenfield / brownfield investments or reinvestments. The maximum amount of regional incentive is shown on the regional aid intensity map. The map above illustrates that regional aid available for investment for a large enterprise may be up to 50% of the eligible costs of the investment, depending on the region. For investments not exceeding EUR 50 million, the maximum intensity ratio can be increased by 10 percent for mediumsized and by 20 percent for small enterprises. 25% WESTERN TRANS- DANUBIA Győr CENTRAL TRANSDANUBIA SOUTHERN TRANSDANUBIA CENTRAL HUNGARY, Budapest 0 / 20 / 35% 35% Székesfehérvár NORTHERN HUNGARY SOUTHERN GREAT PLAIN Szeged VIP CASH SUBSIDY FOR AN EVEN WIDER RANGE OF AGRICULTURAL PROCESSING ACTIVITIES Miskolc NORTHERN GREAT PLAIN Debrecen 50% THESE INCENTIVES INCLUDE, BUT ARE NOT LIMITED TO Pécs Different preferential terms for eligibility CASH SUBSIDIES for investments, training, job creation and R&D LOW-INTEREST LOANS TAX INCENTIVES reduction of corporate tax, social tax, or for encouraging R&D activities TRAINING SUBSIDIES The maximum available aid intensity decreases if the investment is a large investment (exceeding EUR 50 million): 50% of the maximum aid intensity determined in the regional aid map is available for investment between EUR 50 and EUR 100 million, with 34% of the maximum aid intensity for investment over EUR 100 million. For information on up-to-date and individual incentive packages please contact HIPA directly.