HIPA Committed To Keep Hungary On Growth Track – CEO Radio Interview

HIPA Committed To Keep Hungary On Growth Track – CEO Radio Interview

2022. 11. 21.

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HIPA CEO István Joó featured a show of TREND FM, a local business radio channel where he shared key insights on how the Agency helps businesses achieve their investment goals and strives to make Hungary the local exception amid the global recession by turning the economy crisis-proof.

The global FDI landscape is being transformed given that by now the bulk of investments stems from the East, and Hungary intends to harness the power of this change, HIPA CEO István Joó said on business radio channel TREND FM.

Although over 70% of Hungary’s total FDI stock of EUR 83 billion still originates from Western investors, by the end of the last decade Asian countries clearly gained a dominant position. For the first time ever, in 2019 an Eastern country, namely South Korea was responsible for the largest investment volume.

We strive to make use of this trend shift that takes place on a global scale, but competition is strong since not only our peers in CEE but also other EU members and countries outside the EU compete for Eastern investments,

Mr. Joó said in the interview.

Maintaining a high investment volume is even more critical right now because only that can make Hungary the local exception amid the global recession, he added.

Securing more innovation and R&D-related projects is another key factor to keep Hungary on growth track,

Mr. Joó noted referring to a series of ambitious investments such as Bosch’s new R&D hub at ZalaZone proving ground or Nokia’s large-scale 5G research activities.

Listen to the full show and find out how HIPA helps local suppliers become part of the global value chain, what potential the recently announced Factory Rescue Program has in stimulating growth, and what competitive edge the Agency and Hungary in general have in the race for attracting FDI.

Click here to enjoy the full-length interview.