Focusing on large county cities and the SSC industry

Focusing on large county cities and the SSC industry

The Hungarian Investment Promotion Agency (HIPA) and British Telecom (BT) held a joint presentation on Hungary entitled "Doing Business in Hungary" for the leaders of international companies in London. At the Global Expansion Summit organised between 18 and 20 June – in addition to the general information – the HIPA presented the possibilities inherent in large county cities and in the SSC industry in line with the latest trends. There was a great interest in the centrally located booth, where anyone interested received comprehensive information on the Hungarian investment climate.

The HIPA booth at the summit

The HIPA booth at the summit

As a noticeable trend, more and more companies open service centres outside Budapest, because county universities provide continuous labour supply and a high level of knowledge base. Future investors may normally receive a higher level of state aid if they settle outside the capital, in particular with regard to investments aimed at research and development. The HIPA provides complete one-stop expert assistance free of charge for all this.

The SSC sector employs approximately 42 000 persons in Hungary and currently more than 90 companies operate around 100 regional service centres. In 2016, domestic investment promotion broke all records: positive decisions were made in the case of 71 investment projects in Hungary with support by the HIPA. As a result of these, foreign working capital (FDI) in the value of more than EUR 3.243 billion will flow to Hungary and 17 647 new jobs will be created. The business services sector (SSC) achieved the result of a stable second strongest sector with 12 projects and close to 2500 new jobs of high added value.

The aim of the HIPA is to make the Hungarian investment climate even more attractive and, relying on that, to promote – in addition to the "Made in Hungary" type of projects – the "Invented in Hungary" type of technology-intensive investments generating higher added value. The SSC sector is regarded as an area of high added value, providing excellent career opportunities and promising vision for the employees in the sector. Due to the more than two decades of experience, nowadays Hungary is considered a mature and well-established location, where Hungarian employees have acquired considerable expertise over the years and they are able to perform even the most complex jobs at a world-class level.

During the successful presentation, many interested people could learn about the taxation, economic and legal environment in Hungary, and gain insight into the supply of experts with excellent qualifications available in the labour market as well as into the scheme of state aid and incentives available.