Hello!!
Welcome to Business in Hungary 101
Hello!!Hungary is in the heart of Central Europe, bordering 7 countries. It has a population of 10 million, 2 million of which live in Budapest. It is a member of NATO. By 2006, it expects to be a member of the European Union. Historically, even under Communism, the country's economy was seen as more progressive and market oriented than others. Now, it is a beacon for investment and economic development.
The Embassy of the Republic of Hungary
Everyone is encouraged to start here. One is able to read general statements by the Prime Minister, Foreign Minister, Ambassador. The top news item has the Economics Minister announcing a new incentive investment program named Smart Hungary. Visit the Topics and Visa Information icons.
This website proclaims that it is the world's leading resource for international business, trade and investment. It offers information in English and Magyar. Find the links to Hungarian government and Federal Statistics. Other topics include Country basics, Real Estate, Newspapers, Banks, Consultants, and Financial Services.
Embassy of the United States of America in Budapest, Hungary
This is the US's chance to make a positive first impression with the locals. It provides Hungarians with statements of US foreign policy, Embassy Sections, and General information, like studying in the US. Also, there is a site for US Organizations in Hungary. Although this seems more appropriate for the Hungarians, American ex-patriates can keep abreast of US foreign policy and economic initiatives.
British Chamber of Commerce in Hungary
"The Chamber was formed in 1991 when it served largely as a networking forum for the small British business contingent in Budapest. The primary objective of the Chamber is to foster trade and investment flows between Hungary and the UK and in doing so to provide business benefits to the members." (from the website) This site offers Business Services, such as an Investors Booklet, Recruitment corner, and Members Advertising. This is a site for networking.
This site offers many links to Economy & Business, Banks, and Real Estate. The first icon you may see is industry and property listings. You can find luxury apartments in Budapest and Hungarian companies here.
Welcome to the Hungary Business
Practices and Protocol Page
"Welcome to the Hungary Business Practices and Protocol Page! Here you will find a series of reports on business customs, etiquette, cross-cultural communication and proper gifts in Hungary. Learn about Hungarian negotiating tactics, business culture, manners and business entertainment. Discover crucial tips on doing business in Hungary. Find out how to conduct successful business meetings. Whether you are a business traveler to Hungary or considering relocating, these reports are an invaluable source of information. The reports are designed for: export and import managers, international trade experts, cross-cultural communicators, human resource executives, expatriates and their families, as well as students of international business." (from the website)
The
Center for International Private Enterprise (CIPE)
"The CIPE, an affiliate of the U.S. Chamber of Commerce, works to build democracy and market economies throughout the world. CIPE works in four principal areas: a grants program currently supporting over 90 indigenous organizations in developing countries, an award winning communications strategy, training programs, and technical assistance through field offices." (from the website)
The American Chamber of Commerce in Hungary
"The American Chamber of Commerce in Hungary (AmCham) is celebrating its twelfth anniversary this year. In its role as the first non-profit, non-political foreign association in Hungary, AmCham strives to facilitate Hungary's integration into the economy of today's rapidly changing world. As a voice for foreign business in Hungary, AmCham provides: an effective lobbying body, a network of committees dealing with real issues, cultural and social events, topical seminars and forums, support for local charities, and opportunities for the exchange of ideas among the membership and the community at large." (from the website) The chamber recently released a "white paper" on corporate taxation in Hungary. It advocates Hungary trim the tax from 18% to 12%.
The website says that this is a news, business, tourist and entertainment site
geared at informing and servicing a growing Hungarian and International audience.
For the businessman or woman, two links are particularly appropriate: 1) Interviews:
In-depth interviews with interesting Hungarian personalities, including leading
figures from the cultural and political fields; 2) Business: the section focuses
on a different aspect of the corporate world in Hungary. It features companies
doing business in Hungary, new
investments and in-depth reports. (from the website) One can also advertise
here.
US Commercial Service- US Department of Commerce
"The Commercial Service is the global business solutions unit of the Department
of Commerce:
Wide and deep knowledge of markets and industries.
A unique global network.
Inventive use of information technology.
A focus on small and midsized businesses.
The clout and cachet of the U.S. government."
(from http://www.usatrade.gov/Website/website.nsf/WebBySubj/Main_AboutUs)
"If you are U.S.-based company considering Hungary as an export market, you've come to the right place to find the information and assistance you need to successfully enter this growing and changing marketplace. If you are already selling or invested in Hungary, we can also offer you a variety of services that can expand or strengthen your company's position or assist with any challenges you are facing." (from the website)
Central and Eastern
Europe Business Information Center
"CEEBIC is a business facilitation program for U.S. firms interested in expanding into the Central and East European markets. Established in 1990 by Congressional legislation under the Support for East European Democracy (SEED) Act, CEEBIC is a one-stop shop and the US Government's clearinghouse for the most recent economic, commercial, and financial information on the 15 countries of Central and Eastern Europe. CEEBIC offers a wide array of services, business counseling, and information products designed to help primarily small- and medium-sized U.S. companies. CEEBIC's Washington-based trade specialists and dedicated overseas staff in 15 countries of the region work together to implement this unique program for U.S. firms." (from the website)
From the United
Nations economic commission for Europe women entrepreneurs
This site gives anecdotes from women who are leading major businesses in Hungary. It provides their visions of entrepreneurship, how they became entrepreneurs, and messages for the 21st Century.
The Internet Law Library- Hungary
Do you want to read the Hungarian Constitution, in English? Do you want to read about the sale of state owned assets? Do you want to know about Hungarian human rights practices, from the US State Department? Do you want to read about European law? This is an excellent site, although many topics are in Hungarian.
This site is in English. You can learn all about the companies listed on the stock exchange, trading data, such as equities and government bonds, and the history and organizational structure.
Hungary's European Union Integration Website
This is a website devoted the Hungary's planned accession to the EU. By 2006, Hungary hopes to be a part of the EU. In the meantime, it must conform to EU norms. Everything from trade policies to human rights to farming will have to meet EU standards. This can give the businessman or woman a progress report on the country and in the process how successful it is making the change.
Euractive.com EU news and policy positions and EU actors online.
"EurActiv.com is now the leading online media on European Union policies.Launched in 2000, the portal has become an essential work instrument for « EU Actors »™ (professionals from EU institutions, countries & regions, industry & unions, NGOs, the press, and consultants (law, lobbying, PR)."
"EurActiv.com provides more in-depth analysis of selected EU policies
in the following policy sections : Future EU, Transparency, Corporate Social
Responsibility, Enlargement, Environment, Food & Consumers, Health &
Pharma, Media & eCommerce, Telecoms and Innovation.
Policy developments in the following areas are monitored via mini-sections (although
in a less in-depth manner) : BioTech, Trade, Taxation, Energy, Euro, Security
& Defence, CAP Reform, Transport, Competition, Immigration."(from the
website)
This site is to brief the public on Hungary's status of joining the EU. There are links to Government, Political data, Business, and News media, among others.
Bratton deLoach
wbdelj2@yahoo.com
December 9, 2002