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FDI in Hungary nearly halved in 2009

About €2 billion in foreign direct investment is expected to arrive in Hungary this year, well under the €3.9 billion annual average, business daily Világgazdaság reported on Tuesday, citing data from the economy ministry.

Capital expenditures will add up to just HUF 1 billion of FDI in Hungary in 2009, less than usual as profits have been hurt by the crisis. Purchases of shares and other stakes in businesses will account for the rest of FDI.

The number of investors interested in Hungary who approached the Hungarian Investment and Trade Development Agency (ITD Hungary) fell to 250 this year from the 300 in earlier years, ITD Hungary chief György Rétfalvi told the paper. Fifteen of the interested parties had decided to go ahead with investments in Hungary by the middle of November, he added. Rétfalvi expects the number to grow to exceed 20 by the end of the year. (MTI-ECONEWS)