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A bridge between the USA and HUNGARY

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A bridge between the USA and HUNGARY - presentation
Presenter: Thomas Barat, President of American Hungarian Chamber of Commerce (AmHunCham) - New Jersey City University - Institute for Dispute Resolution (IDR) 09/20/2019

Published in: Economy & Finance
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A bridge between the USA and HUNGARY

  1. 1. American Hungarian Chamber of Commerce Thomas Barat New Jersey City University - Institute for Dispute Resolution (IDR) 09/20/2019 A bridge between the USA and HUNGARY
  2. 2. American Hungarian Chamber of Commerce AmHunCham A bridge between the USA and HUNGARY
  3. 3. 3American Hungarian Chamber of Commerce Where is Hungary?
  4. 4. 4American Hungarian Chamber of Commerce Where is Hungary? Hungary is in the heart of Europe
  5. 5. 5American Hungarian Chamber of Commerce Do you know?
  6. 6. 6American Hungarian Chamber of Commerce Do you know?
  7. 7. 7American Hungarian Chamber of Commerce Do you know?
  8. 8. 8 Why Hungary? Budapest Business Region - Get Engaged Video: https://youtu.be/e0wkokaybWA
  9. 9. 9American Hungarian Chamber of Commerce General Information - Economy of Hungary Geographical size: 93 022 sq. kilometers Population: 9,772,756 (01/01/2019) Political system: Parliamentary Republic Membership: UN, EU, NATO, OECD Currency: Hungarian Forint – HUF (1 USD = cca. 300 HUF) Inflation rate: 3,23% (2019) Unemployement: 3,7% (2017) Hungary GDP per capita 16 503.50 $ (Source: Tradingeconomics.com / 2018) Over 70% of the GDP is realized from the foreign trade (Source: Eurostat) Exports: 125,75 billion $ (2017) Imports: 115,63 billion $ (2017) Corporate income tax: 9% Source: MTI
  10. 10. 10American Hungarian Chamber of Commerce Foreign Direct Investment Hungary Foreign Direct Investment 2016 2017 2018 FDI (million USD) 80,699 90,644 88,736 Number of Greenfield Investments 110 83 116 Source: UNCTAD / Central Bank of Hungary / https://en.portal.santandertrade.com/establish-overseas/hungary/foreign-investment Main Investing Countries 2018 (%) Germany 13.0 Netherlands 10.3 Luxembourg 10.1 Ireland 9.4 United States 9.1 France 7.5 South Korea 6.7 Main Invested Sectors 2018 (%) Manufacturing 38.0 Wholesale and retail trade; repair of vehicles 13.7 Profesionnal, scientific, technical activities and other services 6.1 Monetary intermediation 3.2
  11. 11. 11American Hungarian Chamber of Commerce Investments (some examples)
  12. 12. 12 Business in Hungary Video: https://youtu.be/VlkzUaaqGbk
  13. 13. 13 A bridge between the USA and Hungary American Hungarian Chamber of Commerce The main tasks: Business “Matchmaking” “Spokesperson” role Information distribution – Information exchange
  14. 14. 14 A bridge between the USA and Hungary American Hungarian Chamber of Commerce Important US - Hungarian connections New Jersey City University Institute for Dispute Resolution Connecting Bridges and Borders Program Commerce and Industry Association of New Jersey SelectUSA * ExploreNJ * ChooseNJ
  15. 15. 15 A bridge between the USA and Hungary American Hungarian Chamber of Commerce The Real Bridge between the commerce of USA and Hungary
  16. 16. 16 A bridge between the USA and Hungary American Hungarian Chamber of Commerce The Real Bridge between the commerce of USA and Hungary
  17. 17. 17 Why Choose Hungary? American Hungarian Chamber of Commerce of New York Opinions about Hungary: The Forbes magazine: “9th mostly recommended country for investment” The OECD bi-yearly report: “Hungary has the 4th most flexible regulation on employment and labour force in the EU!”
  18. 18. 18American Hungarian Chamber of Commerce Business with Hungary,via ... American Hungarian Chamber of Commerce http://en.amhuncham.org/ Hungarian Consulate General of Hungary, New York https://newyork.mfa.gov.hu/eng Hungarian Export Promotion Agency (HEPA) https://hepa.hu/en Hungarian Investment Promotion Agency (HIPA) https://hipa.hu/main
  19. 19. 19 http://www.amhuncham.org/ American Hungarian Chamber of Commerce
  20. 20. 20American Hungarian Chamber of Commerce Thank you for your attention! Thomas Barat president@amhuncham.org

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