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Canadian investments hit Hungary

According to the statistics of the Hungarian National Bank (MNB) Canadians have been quite reserved in investing in Hungary so far: only €118 million arrived in Hungary from Canada in the form of investments by the end of 2005.

However, according to estimations of different organizations, the value of Canadian capital investments is in fact totaling $2 billion. The reason for the difference is that Canadian companies often realize their investments through their European subsidiaries, which the official Hungarian statistics considers as the investment of the European company. The most important sector of Canadian investment is property development, including office building and shopping center projects with a total value of more than $1billion. The most notable examples of productive investments are motor vehicle industry, pre-fabricated (light-frame) housing and environmental protection industry. Other fields of potential investments include biotechnology and the IT sector. (Napi Gazdaság)