New business guide presents Swedish firms in Hungary

Few are aware that there are nearly 200 Swedish companies in Hungary, employing some 17,000 people, of which 40 have more than 50 staff. This and a lot more can be found out from the Sweden Hungary Business Guide released by the Swedish Embassy in Budapest.

As Ambassador Niclas Trouvé put it at a joint breakfast briefing with the Ministry of Foreign Affairs and Trade and the Hungarian Investment Promotion Agency (HIPA), the motto is “Made by Sweden in Hungary by Hungarians,” since the publication also intends to stress the efforts locals make to turn Swedish business investments into success stories.

“The book allows municipalities, government bodies and Hungarian businesses to gain an insight as to what our companies have to offer,” Trouvé said at the launch. The event was held on December 13, Saint Lucyʼs Day, traditionally regarded as the brightest of all holidays in Sweden.

“Hungary is just reaching a stage where we need to start adopting a similar mindset that prevails in the Scandinavian state,” said Levente Magyar, state secretary at the Ministry of Foreign Affairs and Trade. “Our model should be tailored to the Swedish one that, due to limited natural resources, relies on an ability for continuous self-reinvention.” Magyar also praised the business guide, which shows that Hungary is on the right track towards adopting Swedish work ethics.

“There is a lot more to Swedish companies than Ikea,” said Márta Böddi, office manager of Business Sweden in Hungary. “Skype, Spotify, Minecraft or Thule, to name but a few examples, also originate from there, and many key sectors such as automotive, ICT, energy or retail have large Swedish corporations that deliver great performance: think of Electrolux or H&M,” she added.

HIPA President Róbert Ésik agreed that Hungaryʼs goal is the same as that of Sweden: quality should get priority ahead of quantity, a principle that should also apply to investments. “Along these lines, intensified R&D efforts by any foreign firm in Hungary are going to be eligible for special funds available from next year on,” he noted.