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EU MEMBERS > Hungary
Hungary business environment
Doing business in Hungary
KEY FACTS

Hungary has made the transition from a centrally planned to a market economy, with a per capita income nearly two-thirds that of the EU-25 average. The private sector accounts for more than 80% of GDP. Foreign ownership of and investment in Hungarian firms are widespread, with cumulative foreign direct investment totaling more than $60 billion since 1989. (CIA World Factbook)

Currency: HUF
Key exchange rates:
Interest rate: 9.5%
Current inflation: 6.1%
Inflation target: 3%
Tax rate: 20%

Major Hungarian owned companies:

Alerant Informatikai Zrt
Alerant Inc. is the distributor of BEA Systems and its official technology and training centre. It provides the appropriate technological background and builds a network of partners related to BEA products in Hungary.
Exxon Mobil
Exxon Mobil is the world’s largest publicly traded international oil and gas company, providing energy that helps underpin growing economies and improve living standards around the world. They operate worldwide, and explore for oil and natural gas on six continents, leading the industry in almost every aspect of the energy and petrochemical business.

FIRST STOP
Banking
Hungarian National Bank
The Hungarian National Bank (Magyar Nemzeti Bank) is the central bank of Hungary. The principal aim of the bank is to retain price stability.
OTP Bank
OTP Bank Plc. is the largest bank among Hungarian credit institutions and the dominant player in each segment of the Hungarian banking market at the same time.
Legal
Szeckskay Attorneys at Law
Szecskay provide a full range of legal advice and assistance to the business community. We specialize primarily in international business, corporate and commercial law, and we have a vast amount of experience with all aspects of securities transactions, mergers and acquisitions, corporate financing, banking, antitrust (competition), tax, labour law, commercial transactions, litigation and arbitration in the legal areas and transactions as specified under the description of our practice areas.
Burai-Kovács & Partners
A law firm specialized in the needs of the economic actors, primarily satisfying the need for high-level legal expertise in the oil and gas industry and in the domestic and foreign trade sector. The firm also focuses on other areas of law that are important to businesses, such as corporate law, financial and tax law, labour law, competition law, intellectual property law, the judicial practice of courts and arbitration tribunals in those areas and, increasingly, EU law.
Accounting
ABT
An accounting company whose services include tax consulting, audit services, legal advising, accounting, pay roll accounting, preparing tax returns, representing companies, and due dilligence services.
Dénes and Daughter Auditing Ltd.
An accounting firm that covers all areas of accounting, auditing and tax consulting.
EUROPEAN BUSINESS ENVIRONMENT OVERVIEW
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EU MEMBER FOCUS
Belgium
OUR PARTNERS
Hungary
Hungary flag
FLAG
Hungary map
MAP
Capital: Budapest
Official languages: Hungarian
Government: parliamentary democracy
EU accession: 2004
Area: 93,030km2
Population: 9,930,915 (July 2008 est.)
Internet TLD: .hu
Calling code: +36
EUROCHAMBRES
Eurochambres, the European Association of Chambers of Commerce and Industry, is one of the key representatives of business to the European institutions. It voices the interests of over 19 million member enterprises in 45 European countries through a network of 2000 regional and local Chambers represented by 45 national - and one transnational - organisations. More than 90% of these enterprises are small or medium enterprises, with chamber members employing over 120 million employees.

Eurochambres is the sole European body to serve the interests of every sector and size of European business - due to the multi-sectoral membership of Chambers - and the only one so close to business, as a result of the Chambers’ regional focus.
http://www.eurochambres.eu
CHAMBER OF COMMERCE IN Hungary
The Chamber's main tasks include promoting the general interests of the economy, strengthening the chamber as a body of public law, and developing and organising the economy.
http://www.mkik.hu/