Economics and Investment

    Hungary is located at the intersection of Western and Eastern Europe, with superior location, convenient transportation, always be an important transport hub. As EU member states, political stability, reasonable economic structure, high quality labor force and labor costs is at relatively low level in the EU; infrastructure is good; has a long traditional innovation and good development (headquarters of The European Institute of Innovation and Technology is established in Budapest); with internationalization and liberalization financial market; Government pay attention to attracting foreign investment, implement foreign companies attractive policies, and after Hungary joins the European Union, personnel, funds, goods and services can flow freely within the EU, is conducive to foreign companies based in Hungary and do business with European market. These factors make the rapid growth of the Hungarian economy, the strong momentum of economic development. Hungary’s overall economic strength in Central and Eastern Europe is in the top row.


    Hungarian traditional agriculture is well developed, agricultural development has favorable natural conditions and technical advantages. A large number of agricultural products (fruits and vegetables, wine, meat, foie gras, etc.) are sold to Germany, Austria, Poland, Slovakia, France, Czech Republic and Russia. Strong food safety rule is also the advantage of Hungarian exports food.


    Hungary is the largest electronics producer in Central and Eastern Europe, accounting for about one fourth of the regional GDP. The world’s major electronics companies have invested factories in Hungary, such as General Electric, Samsung, Philips, IBM, Siemens, Bose, LG, Nokia and so on. The world’s major electronics OEM companies are also set up a production base in Hungary, including Foxconn, Flextronics and so on.


    The automotive industry is an important industry in Hungary. Currently, there is more than 600 cars and parts manufacturers in Hungary, over 100 thousand employees. Cars and engines manufacturing companies mainly are foreign enterprises, including: Audi, the Suzuki, Opel and Mercedes-Benz


    Hungary pharmaceutical industry has a long history, being one of the most competitive industries in Hungary. Hungary is the largest producer and exporter of pharmaceutical products in Central and Eastern Europe and export to over 130 countries. Major pharmaceutical companies, including Richter、Egis、Chinion/Sanofi-Aventis、Teva、Beres and Alkaloida


    In recent years, under government support, the Hungarian biotechnology industry has made rapid development, scale and technical level has risen up to the forefront of the new EU members. The main areas of biotechnology include: soil and water pollution treatment, production and processing of raw materials, the regeneration process, genetic engineering, nanotechnology, molecular chemistry.


    Hungary with advantages from its location, is an important transportation hub in Central and Eastern Europe. Strengthen the logistics infrastructure is one of the strategic direction of Hungarian government. The government has continuously push forward the construction of intermodal logistics center. Currently, Hungary has built more than 10 intermodal logistics center.

Renewable Energy

    After joining the European Union, Hungary’s renewable energy industry has achieved rapid development, including biomass, geothermal, wind, hydro, solar lights. Renewable energy consumption rate is almost ten percent of total energy consumption in Hungary.