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Hungary experiences never seen inflow of foreign investment

By bencel
February 14th at 12:39pm

According to the national investment agency (HIPA), with their aid, record amount of investment reached the country in 2016. 
 Tax cuts and restructured culture and innovation programs make them optimistic about the current year.
 HITA says that not only new investors initiate, but companies already in the country provide significant capital.
Last year, in 71 investment projects, total of €3244 million was invested in Hungary with the help of the HIPA. 
 Compared to the previous year, the number of projects increased 6%, the amount of investment increased 131% and the number of work places increased 36%. 
 According to the estimation of the organization 176,467 new work places will be available in the future.

The goal of the HIPA

The goal of the HIPA is to bring companies using modern technologies to Hungary and to provide work places creating high added value. 
 In the previous year, most of the projects were from Germany, United States, Great Britain and Switzerland. 
 Mainly the first two brought the most investment, 64.3% of the whole investment is connected to German and American investors. 
 Traditionally, Germany is one of the most important partner of Hungary and therefore it is not a surprise that 52% of the investments and 32% of the new work places where given by German companies. As for the amount of investment, South Korea was the third due to the investment of Samsung. 
 Denmark was the third in creating the most working places with the extension of LEGO.

The most important elements of the Hungarian industry

The HIPA data reflects that one of the most important elements of the Hungarian industry is car industry. 
 In the last year, 25 investment project, 66% of the total invested amount and 44% of the new work places where within this sector. 
 This is succeeded by the service sector with 12 projects and almost 2500 new work places and food industry is also significant with 8 projects and 1432 work place. 
 As for the amount of investment with more than €341 million second is the electronic sector.

Beneficial to stay

Investors already in Hungary find it beneficial to stay and this is reflected in 55 projects out of 71 that were directed to extend companies already settled in Hungary. The ratio of new investors also increased, from its level of 68% at 2015, it reached 77% last year.

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