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 longterm presence here, benefiting from the highly skilled workforce, access to worldclass 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. 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.
The one-stop-shop management consultancy services of the Hungarian Investment Promotion Agency (HIPA) ensure tailormade offers and information packages for you. You will also get access to necessary information about available investment sites, incentives, the labour market, business environment, local suppliers and more. We support you in making strategic investment decisions by providing accurate information and relevant advice, and we also mediate between the government and businesses based on your inputs to ensure our common success.
Between 2014 and 2018 HIPA contributed to 435 successful investment projects in Hungary, representing more than 82,000 newly created jobs and approximately EUR 16 billion in investment volume. In 2018 and 2019 HIPA was awarded by the prestigious Site Seletion Magazine as the Best IPA in Eastern Europe and Central Asia based on its survey with 1000+ participants.
Now, it’s your turn to explore the opportunities that Hungary can offer your business.