The President of MKIK outlined a knowledge-based vision at the 2025 Economic Year Opening

By: Trademagazin Date: 2025. 03. 07. 13:13

The renewed vision of the Hungarian Chamber of Commerce and Industry (MKIK) is built on the success and satisfaction of entrepreneurs, emphasized Elek Nagy, President of MKIK, at the 2025 Economic Opening Ceremony held in Budapest on Saturday. He highlighted that the chamber’s primary goal is to ensure that Hungarian entrepreneurs feel that it works for them and supports their development.

According to Elek Nagy, a knowledge-based chamber is essential for knowledge-based economic development. The future belongs to those who are willing to invest in knowledge and implement their business strategies accordingly. Referring to a survey by the Makronóm Institute, the MKIK president pointed out that the most successful businesses are those that invest significantly in innovation, seek export opportunities, and maintain active relationships with universities and research institutions.

International Examples and the Hungarian Path

Citing international examples of knowledge-based economic development, Elek Nagy highlighted the role of Danish folk high schools, which laid the foundations for Denmark’s agricultural success, as well as the Singaporean education model, which has been a cornerstone of the country’s economic achievements. He emphasized that for Hungary, the key to progress lies in a knowledge-based chamber and economic development.

One of the biggest obstacles is the lack of funding, which they aim to address by building an ecosystem that fosters collaboration between businesses and chambers. MKIK’s role in this process includes assessing market training programs and ensuring the availability of necessary qualifications.

Artificial Intelligence in Service of Economic Growth

One of the key tools of a knowledge-based chamber is artificial intelligence (AI), which holds significant potential for growth. Citing international research, Elek Nagy emphasized that AI can enable 12% more tasks to be completed and work to be performed 25% faster. However, he also warned that AI implementation carries risks that can only be mitigated through proper human oversight.

“Hungarian SMEs must be taught to use artificial intelligence as soon as possible. This is an excellent opportunity for government and chamber cooperation.”

– added the MKIK president.

Mapping Entrepreneurs’ Challenges and the Benefits of Digitalization

Elek Nagy stated that targeted research is needed to identify the most pressing problems faced by businesses, as these allow for data-driven decision-making. According to MKIK’s findings, the biggest challenges for SMEs include administrative burdens and the scale of tax and social security contributions.

To address this, the chamber has compiled a 15-point proposal package aimed at reducing administrative burdens, with a strong emphasis on spreading digital solutions. Regarding tax simplification, he noted that there is still a significant demand for modifying the KATA tax regime, particularly concerning invoicing between businesses.

Empowering Hungarian Enterprises and New Financing Opportunities

The MKIK president emphasized that Hungarian businesses should be given the same opportunities as those in other European countries. As an example, he noted that in neighboring countries, the winners of major construction projects are predominantly local companies. He believes this could also be implemented in Hungary while complying with EU regulations.

Regarding SME financing, he mentioned the Demján Sándor Capital Program, which aims to provide new financial resources for growth-oriented small and medium-sized enterprises. MKIK’s own asset management team and chamber network help identify companies that require capital injections for further expansion.