Hungary

Smart. Ambitious. Competitive.

 

Three words are to describe why you can consider Hungary as an ideal location for your growing business.

 

Hungary is a bustling business hub situated right at the very heart of Europe; physically and in historical, geographical, cultural and economic terms, all destinations are within easy reach. As a full European Union member, companies coming to do business here join the EU market of more than 500 million people.

 

Hungary is an open economy and particular emphasis is placed on encouraging foreign direct investment. Partnership with potential investors is considered a national priority and special attention is paid to the needs of companies already established in Hungary and to the further improvement of the business climate.

 

More than 40 of the world’s 80 largest multinationals, and many of their SME suppliers, have established a long- term presence here, benefiting from the highly skilled workforce, access to world-

class universities, an advantageous location, qualified suppliers, and from an advanced business infrastructure.

 

Investors do not simply regard Hungary as an ideal production location, but also as a remarkable “advanced manufacturing & innovation centre" of Europe. This trend is in line with Hungary’s intention to further increase the number of investments generating high added value: In addition to the “Made in Hungary” type of projects, increasing emphasis is put on “Invented in Hungary” type of investments.

 

Besides reducing the corporate income tax to a 9% flat rate, Hungary introduced new forms of cash incentive measures in January 2017 2017, optimised in March 2019 to enhance corporate R&D activities and the realization of technology-intensive investments. Not only Budapest, but rural cities and regions are also becoming increasingly attractive to foreign investors in Hungary. The prominent universities in the countryside serve as knowledge basis for companies, the research institutions are a testament to Hungary’s traditional strengths in science and technology.

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via Hungarian Investment Promotion Agency (HIPA)