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Transcript of Why Hungary?
logistics Road density km/km2 High productivity and skilled,
at competitive price level Competitive average wages Labour Productivity High average yearly working hours (2011) Investment friendly policy
environment Number of days to start a business Recent governmental measures
for competitiveness - New labour code (effective from 1 July) in favour of employers
- New act on vocational training in favour of business needs
- Strategic agreements between the government and top investors
- Job Protection Action Plan Competitive tax system Number of institutions in higher education 68
Number of students in higher education 360,000 Most graduates speak English
2nd most popular foreign language: German
Followed by: Russian, French, Italian, Spanish
All degrees include foreign-language certificate and computer skills Higher education High ratio of FDI stock,
open economy Stock of Foreign Direct Investments in Hungary
million EUR Gross Industry wages in € (2012 June) Global Innovation Index Strong scientific
capacity Prosperous office market
Ready-made industrial sites More than 210 industrial parks are available for manufacturing activity Government incentives Cash grants
-EU co-financed tenders
-Cash subsidy based on the decision of the Hungarian Government
Development tax allowance
Job creation subsidy
Training subsidy Regional aid intensity Soft factors International schools in Budapest
Private medical services
Entertainment facilities Testiomonials Site Selection Magazine ranking (2012) The magazine of corporate real estate
strategy & area of economic development Top countries in Eastern Europe:
5 Czech Republic Europe's future attractiveness
‚Excellence, clustering and market dominance can combat industrial outflow. Europe’s manufacturing strength can be seen in Germany, Hungary and Poland where large automotive companies are expanding operations.
Some CEE countries and regions, including Poland, Hungary, the Czech Republic and the Baltic states, continue to attract good FDI inflows from investors seeking relatively favorable labor costs and skills availability to maximize returns.’ Ernst & Young’s 2012
European attractiveness survey Perminder Dale, Chief Executive of Systemax’s European Technology Products Group, said, “After an extensive review process in which we evaluated numerous locations throughout Eastern Europe, I am pleased to announce our plans to establish our shared services center in Corvin Promenade. It is an ideal location from which to serve our growing pan-European operations, offers employees easy access to public transportation, and provides us with access to a highly skilled workforce. We have found a terrific partner in HITA and look forward to the opening of this new facility and years of success.” NEW SHARED SERVICE CENTER TO BE OPENED IN BUDAPEST Systemax creates 200 new jobs as part of their Hungarian investment Hungarian Investment and Trade Agency 61 foreign offices in 47 countries all over the world74 trade and investment counsellors Foreign network 15 regional offices outside Budapest covering the whole country Domestic network