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Hungary: Country and Foreign Investment

Business Environment

The Hungarian government maintains an open economy, and has made foreign investment a priority. Foreign direct investment is expected to total just under EUR1bn in 2012, down from EUR1.4bn in 2011. The US is one of the largest foreign investors in Hungary, behind Germany, Austria, and the Netherlands, and American companies have invested in excess of US$9bn in the country.

One third of Hungarian industry is located in Budapest. Budapest's retail sector has many shopping centres and supermarkets with foreign chains.

Hungary is home to a number of automotive manufacturing sites such as Suzuki and Audi.

There are no restrictions on foreign-currency transactions, and companies may hold foreign currency without restrictions.

The telephone system has been modernized and is highly automated. In 2011 there were 12 million mobile phone users and the number of fixed-line connections decreased to 2.9 million.

 

 

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