Hungary, an ideal location to do business in the EU
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. Forty-five of the world’s 80 largest multi - nationals, and many of their SME suppliers, have established a long-term presence in Hungary, 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 to enhance corporate R&D activities and the realization of technology-intensive investments.
Foreign Trade focused foreign policy, a combination of dedicated institutions to facilitate deals
In 2014 an institutional triangle was created headed by Péter Szijjártó, Minister of Foreign Affairs and Trade to support the foreign trade-focused foreign policy of the Hungarian Government. The triangle of the Hungarian Investment Promotion Agency (HIPA), the Hungarian Export Promotion Agency (HEPA) and Eximbank operates outstandingly effective in promoting foreign trade and Hungarian exports.