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Hungary eighth in best to invest ranking

Int’l Relations

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Hungary is the eighth most attractive place to invest in the world, according to a ranking published Wednesday by American magazine Site Selection, Minister of Foreign Affairs and Trade Péter Szijjártó said at a press conference on Thursday.   

With its small, open economy, Hungary needs to participate in the "cutthroat international struggle" for investment if it is to maintain its job creation dynamic, Szijjártó was cited as saying by state news agency MTI. The countryʼs inclusion in a top-ten ranking by such a respected professional journal is of "extraordinary significance" as it can sway investors, he added.

In a global ranking of investment projects by country published by Site Selection, which describes itself as "an internationally circulated business publication covering corporate real estate and economic development," Hungary placed eighth with 74 projects. China and Germany topped the list, with 777 and 455 projects, respectively.

Among other countries in the region, Poland was in fifth place, with 140 projects, and Romania in tenth, with 70.

In a Site Selection ranking of the top ten countries in Eastern Europe and Central Asia based on the total amount of investment and investment projects, Hungary was number one. It also topped the regional ranking for investment value per capita.

In addition, the Hungarian Investment Promotion agency (HIPA), which is managed by the Ministry of Foreign Affairs and Trade, was named the top investment promotion agency in the region.

According to a press release sent to the Budapest Business Journal, the award was based on its results in promoting FDI, the quality and complexity of services offered to customers, expertise, language skills and customer-friendly attitude of its employees, and feedback from investors already established in Hungary.

The official awards ceremony will take place at the event The World Forum for FDI in June 2018 in Liverpool.

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