Ten Hungarian companies will join global business leaders and U.S. government officials travelling to Washington D.C. to participate in the SelectUSA Investment Summit (June 18-20), Chargé d’Affaires David Kostelancik announced today, according to a press statement sent to the Budapest Business Journal.
The summit is the highest profile event to connect global companies and U.S. economic development organizations (EDOs) to facilitate business investment in the United States, the U.S. Embassy in Hungary says.
“We are entering a new period of economic revival in the United States,” said U.S. Secretary of Commerce Wilbur Ross. “This is an exciting time for global companies to explore the U.S. market and find partners that can help them create a footprint, expand operations, and achieve growth. There is no better place to make those connections than this summit.”
The summit has historically provided returns for Hungarian business investors. At least two Hungarian companies that attended the SelectUSA Investment Summit last year have since invested in projects in the United States.
“We are thrilled to welcome ten Hungarian companies to the summit and to the United States,” said Kostelancik. “As the nation’s premier foreign direct investment event, the summit brings business opportunities and resources from across the United States together in a single place, enabling participants to complete weeks of work in fewer than three days.”
The United States is currently home to more foreign direct investment than any other country in the world, with a total stock of USD 3.1 trillion at the end of 2015. Hungary and the United States share a strong trade and investment relationship, with nearly 100,000 Hungarians employed by U.S. affiliates.
The SelectUSA Investment Summit is the highest profile event to connect global companies and U.S. EDOs to facilitate business investment in the United States. To date, representatives from 51 U.S. states and territories and more than 65 international markets have registered for the 2017 Investment Summit.
The previous three Summits have each attracted thousands of international investors, with the 2016 Summit alone attracting more than 2,600 total attendees, including investors from 70 markets, EDOs from 52 U.S. states and territories, and 22 chiefs of mission. Past summit participants announced USD 20.6 billion of new investment projects in the United States from 2014 to 2016.