Chamber of Commerce Corner, June 14, 2024

German Hungarian Chamber of Industry and Commerce (DUIHK)

Last week, as part of its Network Digital initiative, DUIHK members visited the Budapest Experience Center for Industrial Innovation, CU.BE by Bosch Rexroth Hungary, a stronghold of Industry 4.0, where they were able to see the company’s latest technological achievements in action. The event was opened by DUIHK managing director Barbara Zollmann and István Ács of Bosch Rexroth Kft. He presented the activities and results of the Bosch Group and Bosch Rexroth over the past year. The company’s innovative technical solutions presented included Smart Function Kit mechatronics, the Smart Flex Effector compensation unit, and the ctrlX Automation portfolio. Members also learned how modern data acquisition technologies are reshaping the domestic industry and what solutions Bosch Rexroth has developed for this. Finally, DUIHK members could learn about developments for factory automation, such as the Active Shuttle AMR intralogistics solution and the collaborative machines from Kassow Robots, which can almost completely imitate the functions of the human arm. Several large Bosch Rexroth projects for production automation were also presented. Many of these products were displayed in the showroom, bringing the theoretical solutions to life and making the experience complete for visitors.

Belgian Business Club in Hungary (Belgabiz) and the Netherlands-Hungarian Chamber of Commerce (Dutcham)

Belgabiz and Dutcham invite guests to a “summer drink before the summer holiday.” Join the chamber for a drink and bites, and make valuable business and friendship connections in the pleasant atmosphere. The fee includes one drink and pizza.

• When: June 20, 6-9 p.m. • Where: ODA / Czakó Kert, Czakó u. 15, Budapest 1016 • Fee: Belgabiz and Dutcham members HUF 5,900 (incl. VAT); non-members: HUF 10,900 (incl. VAT).

Hungarian-French Chamber of Commerce and Industry (CCIFH)

On June 5, the French Ambassador’s Residence hosted a press conference and a reception marking the publication of the 2024 edition of “France’s Presence in Hungary.” This regular informative, concise and to-the-point publication, which gives a quick overview of the French economic actors operating in Hungary, was updated on the occasion of Hungary’s upcoming presidency of the Council of the European Union. The CCIFH and the economic department of the French Embassy in Hungary worked on it closely with the Hungarian organization of French Foreign Trade Counselors.

Since the survey was last carried out in 2020, France has maintained its prominent position as an investor in Hungary. According to the latest data from the National Bank of Hungary (MNB), France is the fifth largest foreign direct investor in Hungary, with an investment amount of EUR 5.15 billion and 5.1% of all foreign investments. Some 544 French-owned companies operate in Hungary, a marked +10.79% increase compared to the 491 companies in 2020. Those businesses currently employ nearly 49,000 staff, and their annual sales are more than EUR 13 billion.

The food industry, trade, consumer goods, and industrial activity still account for nearly half of the sales revenue of French companies in Hungary. The companies involved account for 37% of the total French presence, and their number of employees is 35% of the total.

The study also highlights the dynamism of the automotive industry, which doubled its sales in four years and increased the number of employees by 64%. In the environmental protection and energy sector, where the number of new businesses increased significantly, both sales and the number of employees were up strongly. Despite the decrease in the number of French companies operating in Hungary in the construction industry and the consumer goods sector, they registered much higher sales than four years ago.

Italian Chamber of Commerce for Hungary (CCIU)

The Italian Cultural Institute of Budapest hosted the extraordinary general assembly of the CCIU on June 11 at 4:30 p.m. This closed-door meeting was reserved for CCIU members. It was a significant opportunity for the community to take stock of the achievements and challenges of the past months and to look forward to upcoming activities, including synergy breakfasts with stakeholders, trade promotion events, workshops, Made-in-Italy fairs and exhibitions, Assocamerestero (the 86-member Association of Italian Chambers of Commerce Abroad) initiatives, networking events and much more. The general assembly was opened by Bernardino Pusceddu, president of the CCIU, who spoke about the importance of the chamber’s presence in Hungary. There was also an opportunity to discuss the development of Assocamerestero. After the assembly, participants could enjoy a traditional Italian aperitif accompanied by Prosecco.

Canadian Chamber of Commerce In Hungary (CCCH)

Join the CCCH on July 1 to celebrate Canada Day and the 157th anniversary of the Constitution Act of 1867. Known as Canada’s birthday, this day is a special occasion commemorating the country’s rich history and diverse culture. In Canada, celebrations include fireworks, parades, barbecues, concerts, carnivals, and picnics. In Budapest, the CCCH hosts a casual event featuring burgers, beers, and doughnuts. This is an excellent opportunity to connect with the community, celebrate Canada’s heritage, and enjoy delicious food and drinks.

• When: Monday, July 1, from 6-10 p.m. • Where: Pasarét Bisztró, Pasaréti út 100, Budapest 1126

Swiss-Hungarian Chamber of Commerce (Swisscham)

The first episode of the Holinstinct: Revitalize and Thrive for Productivity and Well-being webinar series will air in July. It presents a holistic, integrated, and accessible methodology for well-being that addresses the needs of corporate and non-corporate clients through a multi-faceted system. This approach combines coaching, nutrition, physical activity and mindfulness, recognizing the interconnectedness of these factors in achieving overall well-being. It is a flexible and supportive approach, empowering individuals to take control of their well-being in ways that work for them.

• When: Tuesday, July 2, 2-3 p.m. • Fee: Members free; non-members: HUF 10,000

This article was first published in the Budapest Business Journal print issue of June 14, 2024.