Khalaf Ahmad Al Habtoor, the chairman of the United Arab Emiratesʼ Al Habtoor Group, praised Hungaryʼs investment environment for the ease of doing business and its healthy returns in an address to the Hotel Investment Conference CEE & Caucasus (HOTCO) in Budapest yesterday, according to Hungarian news agency MTI.
Al Habtoor owns The Ritz-Carlton Budapest and the InterContinental Hotel in the capital. The group also recently acquired the Rumbach Center and the Dorottya Udvar office complexes in Budapest. Al Habtoor singled out Hungary as a good investment destination, saying business is conducted “in a simple and timely manner.”
“Investments here are more rewarding than in any other parts of Europe, the United States, and the so-called established investment destinations,” he said. “I believe that the more mature markets in Europe have peaked. They yield very little returns, if any, and the red tape is a major put-off to investors,” he added.
“Hungary is a beautiful country with a vibrant economy. It offers more incentives and subsidies to investors than the traditional markets in Europe and that gives Hungary the competitive edge over places like London, Paris, Frankfurt, and Berlin, which have all become too lax as other ‘less mature markets’ have gained momentum,” Al Habtoor said.
He applauded the Hungarian government, which he said understands the importance of foreign investment, providing tax benefits and other incentives to both local and foreign investors.
“No one is discriminated against,” he added.