President of HIPA among members of the National Competitiveness Council

President of HIPA among members of the National Competitiveness Council

National Competitiveness Council holds its first meeting

The eight-member National Competitiveness Council – consisting of experts called up by Mihály Varga, Minister for National economy – held its inaugural meeting; it has the task of drawing up and reviewing initiatives relevant to the competitiveness of the Hungarian economy. Róbert Ésik, president of the Hungarian Investment Promotion Agency (HIPA) can contribute to the effective function of the council through his in-depth knowledge of the needs of foreign investors and his management experiences from the private sector.

One of the key challenges facing the national economy in the coming period is the continued strengthening of the country's competitiveness. the Hungarian national economy is now stable and growing, but the overall competitiveness should be improved to keep it sustainable.

The key to further sustainable growth is the spread and development of new, innovative technologies. To this end, as of 1 January 2017, many positive changes have taken effect for investments producing high added-value in relation to both the tax scheme and state aid provided to investments. The most important such change is the reduction of the corporate tax rate to 9%, which is the lowest rate in Europe, and the introduction of new forms of support within the funding scheme based on individual government decisions in relation to technology-intensive and R&D investments.

Farkas Bársony, Róbert Ésik and Dale A. Martin

Farkas Bársony, Róbert Ésik and Dale A. Martin

As a member of the eight-member professional council, the president of HIPA assigns a priority to supporting dialogue between companies and government actors, which contributes to increasing the appeal of the Hungarian investment environment, and by building on this, to promote "Invented in Hungary" types of investments, which produce higher added-value, in parallel to "Made in Hungary" types of projects.

Members of the National Competitiveness Council:

  • Mihály Varga, minister for national economy
  • Prof. Dr. Magdolna Csath (Szent István University)
  • Dr. Farkas Bársony (American Chamber of Commerce - AmCham Hungary)
  • Zsolt Hernádi (MOL Group)
  • Levente Jánoskuti (McKinsey&Company)
  • Dale A. Martin (German-Hungarian Chamber of Industry and Commerce – DUIHK)
  • Dr. László Parragh (Hungarian Chamber of Commerce and Industry – MKIK)
  • Róbert Ésik (Hungarian Investment Promotion Agency - HIPA)