The legislation for foreign investments in Hungary
represents the set of laws meant to regulate the activity of foreign investors
in this country and also protect them. Hungary presents many advantages for the foreign investors and businessmen
interested in performing business activities here
, such as: a highly efficient workforce
, a well developed infrastructure and a strategical geographical position.
The Foreign Investment Act in Hungary
The Foreign Investment Act in Hungary represents a set of laws, enabled in 1988, providing the main legal framework that guarantees foreign investors will benefit from the same treatment that Hungarian investors have. This act has been amended over the years with the aim of ensuring greater protection both for foreign and domestic investors. The Foreign Investment Act in Hungary focuses on three directions:
- to create suitable grounds for international cooperation between Hungary and foreign investors coming in the country;
- to encourage the injection of foreign capital;
- to boost the country’s technological development.
The authority responsible with foreign investments in Hungary
The Investment and Trade Development Agency in Hungary
was established in 1993 and its main objective was to help companies make major investments in Hungary
. The responsibilities of this authority were transferred in 2011 to a smaller agency, the Hungarian Investment and Trade Development Agency (HITA)
. This new authority is operating under the Ministry of National Economy.
Investment opportunities in Hungary
There are several sectors that have attracted high volumes of foreign direct investments in Hungary
over the years. These domains continue to be the main industries that support Hungary’s economy
. A foreign investor
interested in starting a business in Budapest
, or in any other Hungarian city, should know that the main industries in this country are the following:
- the automotive sector;
- the electronics industry;
- the pharmaceutical industry;
- the IT&C industry;
- the food industry.