American Companies Regard Hungary as One of the Most Attractive Investment Environments in Europe

Publicated on: September 20, 2017

According to Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó, American companies consider Hungary to be one of the most attractive investment environments in Europe.

While attending the 72nd Session of the United Nations General Assembly in New York, Mr. Szijjártó held talks with, among others, the directors of IBM, General Electric and BorgWarner, as well as with representatives of the US-Hungary Business Council (USHBC) and the Business Council for International Understanding (BCIU).

In a statement to Hungarian news agency MTI, the Minister highlighted the fact that Hungary has the lowest corporate tax rate in the European Union. Additionally, he stressed that American companies regard the government’s investor-friendly attitude and investment promotion program as major pull-factors to Hungary.

“The Hungarian economy is now entering a new phase, given that it has for all intents and purposes achieved full employment, meaning greater emphasis can now be placed on higher value-added sectors and investment projects that are fundamentally based on research & development,” said Mr. Szijjártó. “This Hungarian economic policy goal coincides with the investment intentions of American companies.”

Mr. Szijjártó stressed that “American enterprises are increasingly looking at Hungary as a site for R&D and services, not merely a site for production. This means that in the upcoming period, many American companies that already have production capacities in Hungary will also be establishing service and development functions in the country”.

The Minister pointed out that “The number of American companies operating in Hungary now exceeds 1,700, and the number of people they employ exceeds 100,000. This means that the United States is the second largest investor in Hungary after Germany, and this position will be significantly strengthened in the upcoming period: thousands of new workplaces will be created in Hungary over the next three months as a result of the high value-added investments in R&D and services by American companies.”