Did you know that?  Alam mo ba?

  • the corporate tax rate is 9% in Hungary, the lowest in the EU
  • the largest car engine manufacturing plant is in Hungary (the city of Győr) operated by Audi
  • Hungary is a safe heaven in the EU, business cost to terrorism is one of the lowest in the EU
  • Hungary lies at the crossroads of three TEN-T corridors
  • GMO is forbidden in the Hungarian Constitution, purely 100% GMO-free ingredients are available in Hungary

For further interesting facts, please follow our facebook page and search fot the weekly published #TradeTuesday!

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 to enhance corporate R&D activities and the realization of technology-intensive investments.

 

Useful links:

Hungarian Export Promotion Agency

Hungarian Investment Promotion Agency

 

You may reach us at trade.mnl@mfa.gov.hu or find us in person in Manila. The Commercial Section of the Embassy of Hungary, Manila is for your service to export, import or invest in Hungary.