Business environment in Hungary, business and investment opportunities in the Northern Great Plain Region

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1 Business environment in Hungary, business and investment opportunities in the Northern Great Plain Region Mr. András Hajdu Deputy Director Tilburg, 6th June

2 Agenda Why Hungary? Hungarian Business Environment Upcoming Region of Europe - Northern Great Plain Region Hungarian Investment and Trade Agency (HITA) 2

3 Why Hungary? Well-qualified, competitive average wages: Hungary ranked 5th among the EU 27 Great logistics and infrastructure Governmental incentives (cash subsidy, tax allowance) Competitive tax system Business environment Extensive local supplier-network Leading sectors 3

4 Why Hungary? Long and successful tradition of cooperation between the universities and the producers in R&D: The World Economic Forum ranks Hungary 18 among 139 countries in terms of the quality of scientific research institutions Hungary can currently boast of having attracted Foreign Direct Investment (FDI) about 70 billion Euros to date which represents a high per capita rate in the Central- Eastern European region. 4

5 Competitive average wages 50 HOURLY LABOUR COSTS (EUR) EU27: 23, HUNGARY: 7, Source: EUROSTAT 24 April 2012 (costs for wages & salaries, plus non wage costs such as employer s social contributions) 5

6 Great logistics and infrastructure A market of 250 million people within 1000 km, EU: common market of more than 500 million Hungary is the perfect location for distribution within Central Europe, Eastern Europe, South-Eastern Europe, and CIS countries 7 country borders; 20 neighbouring countries within km At the cross roads of 4 main European transportation corridors Extensive road and railway transportation network Highly developed logistics and telecommunications infrastructure Source: KSH, wiiw, EIU 6

7 Available incentives for investment Cash grants - Cash subsidy based on the decision of the Hungarian Government (min. 50 new jobs) - EU co-financed tenders (investment volume min. EUR 1 M) Development tax allowance - investment volume min. EUR M (HUF 3 B) and min. 150 new jobs - Investment volume min. EUR 3.44 M (HUF 1 B) and min. 75 new jobs in preferred regions or for SMEs Training subsidy - max. EUR 1 M (approx. HUF 290 M) if job creation is between max. EUR 2 M (approx. HUF 580 M) if job creation >500 Job creation subsidy - EUR 1.17 M (HUF 340 M) per project in less developed regions in case the cash grand by the Government is granted and more than 500 new jobs are created 7

8 Regional Aid Intensity Komárom- Győr-Moson- Esztergom Sopron Nógrád Budapest Heves Borsod- Abaúj- Zemplén Szabolcs- Szatmár- Bereg Hajdú-Bihar Vas Veszprém Fejér Pest Jász- Nagykun- Szolnok 10% Zala Somogy Tolna Bács-Kiskun Csongrád Békés 30% 40% Baranya 50% + 10 % for medium enterprises + 20 % for small enterprises 8

9 Competitive tax system Low corporate income tax: rate for the first HUF 500 million of the tax base is 10% beyond HUF 500 million, it is 19% Tax incentives and allowances (development tax allowance, R&D incentives etc.) Flat personal income tax: 16% European countries Corporate income tax France 33.33% Spain 30.00% Germany 29.44% UK 28.00% Greece 25.00% Czech Republic 19.00% Slovakia 19.00% Poland 19.00% Hungary 10-19% Asian countries Corporate income tax Japan 40.69% Malaysia 25.00% China 25.00% South Korea 24.20% Singapore 17.00% 9

10 Leading sectors Manufacturing Industries and Energy Automotive industry Electronics Renewable energy Chemical industry Food industry Knowledge-based Industries and Services Life science Logistics, R & D ICT SSC 10

11 Agenda Why Hungary? Hungarian Business Environment Upcoming Region of Europe - Northern Great Plain Region Hungarian Investment and Trade Agency (HITA) 11

12 Invest in Northern Great Plain Region fdi Magazine has chosen Northern-Great Plain as the TOP 1 Eastern European Region for FDI strategy, TOP 10 Small Region for FDI strategy in 2010/2011 Debrecen was awarded as TOP 5 City in Eastern Europe for FDI strategy in 2010/

13 Strengths of the Northern Great Plain region Good geographical location Available qualified labour force at reasonable costs as compared to Western European cities Significant concentration of suppliers for vehicle industry in the North-Great Plain region with the presence of both domestic and multinational companies. Industrial parks with good infrastructure and expandability Modern office stock for SSC investments (Debrecen) Strong higher education background with great potential for innovation, R&D Industrial Park, Polgár 13

14 Statistics Northern Great Plain region Jász-Nagykun- Szolnok county Hajdú-Bihar county Szabolcs-Szatmár- Bereg county Area 17,749 km² 5, km² 6, km² 5, km² Population 1,482, , , ,000 Registered job seekers 127,501 28,130 42,810 56,561 Unemployment rate 13.9% 10.1% 13.0% 17.6% Source: Central Statistical Office, Hungary 14

15 Logistics Motorways: M3, M35 Main roads: Nr.4, 41, 42, 44, 46, 31, 32, 33, 34 Border crossing stations: 1 on the Ukrainian border (Záhony), 1 on the Romanian border (Csengersima) International airport: Debrecen; air cargo and scheduled flights are under organization, main destinations will be big European hubs (Munich, London) Civil airports: Nyíregyháza, Debrecen Military airport: Szolnok River ports: Tokaj, Szolnok 15

16 Education, training 183 secondary educational institutes (grammar, vocational, specialized secondary schools, all trades are covered) Labor market oriented vocational educational scheme Computer science and foreign language learning are obligatory Centre of higher education is Debrecen: all professional fields are covered, main focus is on foreign language education, pharma studies, life sciences and IT. University of Debrecen 16

17 Attractive sectors in the Region Pharmaceuticals Medical devices Biotechnology Automotive-related industry Electronics Logistics Chemical industry Shared service centers ICT Food industry 17

18 Main foreign companies present in the Region Company name Foreign Profile City Employees capital Electrolux S white goods Jászberény, 3,640 manufacturing Nyíregyháza TEVA IL pharmaceutics Debrecen 2,090 Samsung ROK electronics Jászfényszaru 2,080 Electronics E.ON D energy Debrecen 2,000 IT Services D IT shared service Debrecen 1,912 Hungary center TIGÁZ I gas provider Debrecen 1,600 Rosenberger D automotive Jászárokszállá 1,600 supplier/electronics s LEGO DK toy manufacturer Nyíregyháza 1,241 FAG D machine industry Debrecen 1,095 National USA electronics Debrecen 1,120 Instruments components Michelin F chemical industry Nyíregyháza 1,052 Friesland NL dairy products Debrecen 862 Hungária Coloplast DK health care industry Nyírbátor

19 Agenda Why Hungary? Hungarian Business Environment Upcoming Region of Europe - Northern Great Plain Region Hungarian Investment and Trade Agency (HITA) 19

20 Introducing HITA Newly founded by the Hungarian Government to implement foreign economic strategy (operating since January 2011) Former agency: ITD Hungary (the legal form has changed, the tasks are the same), two institutions in one: trade development and investment promotion The supervising body of HITA is the Ministry for National Economy Headquarters in Budapest, regional offices in Hungary and linked to 61 offices around the world 150 employees, mainly consultants on sectorial basis 20

21 Main tasks of the agency Trade Development Investment Promotion Promote and facilitate foreign investments (project management, incentives, supplier programme) Encourage Hungarian SMEs to expand their activities on an international level 21

22 New Services from 2012 SME Academy Complex training program for SME s Target group: beginners and experienced exporters HIP- Hungarian Investment Projects /HTP- Hungarian Technology Projects We seek Investors for the existing Hungarian Investment and Technology Projects Investor-Friendly Location Program The goal is to make a database which covers the whole country, focusing on the regions and the associations of the local councils REINVEST The aim is to encourage the international companies (those who have already invested in Hungary) to reinvest: to develop, and expand their activities in Hungary Carpathian Basin Network 9 locations These offices will provide complex services for Hungarian and cross-boarder countries Traditional trade development Company foundation-related services: exploring financial resources including Hungarian and EU funds 22

23 Offices Internal network Central office: Budapest 15 regional offices outside Budapest covering the whole country Foreign network 61 foreign offices in 47 countries all over the world 74 economy and trade counsellors 23

24 Headquarter Contact European Relations Department Mrs. Judit Vékei Kiss Hungarian-Dutch relations Tel: Budapest, Honvéd utca

25 Thank you for your kind attention! 25

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