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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

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American Hungarian Chamber of Commerce
AmHunCham
A bridge between the USA and HUNGARY

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3American Hungarian Chamber of Commerce
Where is Hungary?

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4American Hungarian Chamber of Commerce
Where is Hungary?
Hungary is in the heart of Europe

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5American Hungarian Chamber of Commerce
Do you know?

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6American Hungarian Chamber of Commerce
Do you know?

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7American Hungarian Chamber of Commerce
Do you know?

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Why Hungary?
Budapest Business Region - Get Engaged
Video: https://youtu.be/e0wkokaybWA

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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

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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

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11American Hungarian Chamber of Commerce
Investments (some examples)

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Business in Hungary
Video: https://youtu.be/VlkzUaaqGbk

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A bridge between the USA and Hungary
American Hungarian Chamber of Commerce
The main tasks:
Business “Matchmaking”
“Spokesperson” role
Information distribution – Information exchange

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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

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A bridge between the USA and Hungary
American Hungarian Chamber of Commerce
The Real Bridge between the commerce of USA and Hungary

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A bridge between the USA and Hungary
American Hungarian Chamber of Commerce
The Real Bridge between the commerce of USA and Hungary

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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!”

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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

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http://www.amhuncham.org/
American Hungarian Chamber of Commerce

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20American Hungarian Chamber of Commerce
Thank you for your attention!
Thomas Barat
president@amhuncham.org