HUNGARIAN NATIONAL TRADING HOUSE STATE SECR. ECONOMIC DIPLOMACY Innovative solutions of high How Hungary specialization in frontline successfully dealt sectors p. 8-9 with the crisis p. 5

HUNGARY Supplement in Leaps in Growth Sunday 4 December 2016 ABOUT HUNGARY Hungarian Rhapsody... The Hungarian economic History, arts, sciences, inventions, great achievements of the past and present. “renaissance”, shows the way An impressive mixture creates the profile of a historic nation. p. 3 The country that leads the way to economic growth in Europe in recent years. STUDYING IN HUNGARY By changing their decade-long mentality in a short economy, particular emphasis was placed in encour- time, Hungarians managed to turn a statism-type aging foreign investments, mainly through incentives. The crucial role of education economy with watertight structures of the eastern Hungary, as a member of the European Union has block, into a market economy. The country, with created a favorable institutional framework that of- in development a midsize -for European standards- economy, fers substantial incentives to domestic and especially based itself mainly on heavy industry, while the foreign investors. The latter have contributed to the The diplomas awarded by Hungarian universities sector of services has played a significant role economy more than $ 92 billion in direct foreign in- have a worldwide high prestige, while foreign in the ongoing development, which contributed vestments since 1989. language courses are of high quality, with very more than 60% to the GDP of the country. affordable -or even zero- tuition. To speed up Hungary’s transition to a market p. 4 p. 12 Building bridges between THE HUNGARIAN TOURISM An important growth Greece and Hungary engine for Hungary The medium-term prospects of the Greek The Hungarian economy is growing multidimen- sionally, utilizing all the areas that can contribute market, have sparked the interest of to the overall GDP. The country’s tourism is one Hungary in developing business syn- of the key growth sectors. ergies and two-way investments. ALX Hellas is the link, since it represents p. 14-15 the Hungarian National Trading House (MNKH) in our country and also assem- THE GREEK COMMUNITY bles, evaluates and promotes investment in various fields of economic activity. Cultural autonomy is Thus, it helps Greek enterprises to trace new paths of development through se- enjoyed by the Greeks cure partnerships and diverse invest- of Hungary ment activities. In the last elections, Greek minority self-ruling ad- p. 10 ministrations were elected in 35 electoral regions, while even a prefectural subsidiarity of Greek THE AMBASSADOR OF HUNGARY ERIK HAUPT INTERVIEW: Zsanett Olah minority was elected in the Hungarian capital. Close cooperation as an Bridges of cooperation p. 2 antidote to difficulties and development HUNGARIAN CHAMBER OF COMMERCE “A key factor in bringing Ms Zsanett Oláh, Manag- our nations even closer is ing Director of the Hun- economic and business co- garian National Trading The organizational role operation. Today, it is more House, informs us and of chambers important than ever for our elaborates on the activi- business communities to ties of the Organization One of the key players in the race for development contribute to the economic and the possibilities for is the Hungarian Chamber of Commerce and In- growth of both countries”, cooperation between dustry (HCCI), which coordinates the activities notes Mr. Erik Haupt, the Greek and Hungarian of 23 regional chambers. Ambassador of Hungary to enterprises. Greece. p. 6 p. 7 p. 11 2 | Hungary - Leaps in growth Sunday 4 December 2016 The method Cultural autonomy of others... enjoyed by the Greeks iving in a tu- ods and procedures of Hungary multuous that show that there decade that are always solutions! Minority subsidiarities of Greeks in Hungary, L has affected Leaving behind dec- preserve the language the customs and culture of almost all developed ade-old mentalities, countries of the world, Hungarians demon- their country, with the help of the Hungarian state. we see the interde- strate that there are pendence with our opportunities for de- «roommates» in this velopment, particu- small planet every larly in organizations day. Focusing on our such as the European neighborhood, Europe, Union. perhaps we can better The State of Hunga- realize that we are the ry and particularly cell of an organiza- the Hungarian Na- tion, while a separate tional Trading House national entity, that (MNKH), plan and should not only ben- implement effective efit from this organi- strategies that are zation, but also serve based on proper plan- it. Hungary’s exam- ning, innovation and ple demonstrates the foreign investors. The versatility that people country’s industry is can show in times of already home to many difficulty and crisis. world class compa- The participants at the recent conference titled «1100 years of Byzantine-Hungarian relations» in the Hungarian Parliament. On the following pag- nies, its products and es, a brief flashback services are sought fter the political Greek origin will learn their Hungarians». reminds us Hungary’s after, while at the changeover and mother tongue and culture. At The Institute is situated on the Hungary’s transfor- the same time, it explores the property bought by ΑΕΟΥ in 2008, past, retracing impor- same time, tourism, mation into a civil history of Greeks in Hungary. in the 9th district of Budapest, tant moments of Hun- education, agriculture democracy constitu- The Hungarian State financially which will soon have a theater Ation (1989), the Hungarian state supports the budget of the local with a capacity of 500 specta- gary’s history up to and many other fields, has officially recognized 13 histori- subsidiarity with 1 million euro tors. The Greek Hungarian sub- the present. Given the are being continual- cal national minorities, which have per year. sidiarity publishes the magazine information cited for ly upgraded. Greece more than a century of active pres- Today ΑΕΟΥ is responsible «HELLENISM» on a regular basis. the country, we can was and remains an ence in the country. Among those for the operation of two Greek The “Greek Hungarians Research understand the con- important partner, recognized was the Greek minor- schools. The kindergarten and Foundation” also deals with the ity, as it is known that for over primary school of the Belogiannis history of the Hungarian Greek dition in which it was having many similar- 1100 years there is a presence of village and the complementary communities, which was estab- immediately after the ities (even in national Greek ethnological groups in the afternoon Greek school «Manolis lished by ΑΕΟΥ in 2003. Basis for collapse of the Eastern figures) with Hunga- Carpathian basin which includes Glezos,» which is based in Buda- these researches, is the material the area of Hungary. These organ- pest, but also operates 17 other of the official Hungarian archives block. Additionally, we ry. The treatment re- ized minority subsidiarities are Hungarian branches. ΑΕΟΥ has al- for the Greek diaspora and trade can understand the ceived by the Hungar- elected on the same day the mu- so founded a new minority school as well as for the Greek political effort that was made ian Greek community nicipal and prefectural elections in Budapest, which is expected to refugees of the civil war. Every are conducted in the country. In operate in the coming school year year in March and October, the to put the Hungarian is a shining example of the last elections Greek minori- (2017). Aside from Greek teachers Subsidiarity, celebrates the Greek economy back on its the feelings between ty subsidiarities were elected in posted from Greece, Hungarian national holidays as well as the feet after the recent the two peoples. Hope- 35 constituencies, while even a educators with a Modern Greek religious ones like the Epiphany prefectural subsidiarity of Greek Studies degree, teach the Greek and Easter. painful experience of fully the next few minority was elected in the Hun- language and folklore in the edu- Children of Greek schools visit the recourse to the pages will illuminate garian capital. cational institutions of Hungary. Greece every summer, participat- IMF. Competent lips unknown aspects of The Greek Hungarian Subsidi- An additional difficulty to their ing in organized excursions and as those of the State a remarkable exam- arity (ΑΕΟΥ) was founded in 1995 work is that the degree in Modern camps that are designed make and now in its sixth term, chaired Greek Studies is not accompanied them acquainted with the land Secretary for Econom- ple of determination by businessman Mr. George Kou- by a teacher’s degree since 2005, of their ancestors. Various Greek ic Diplomacy (such that is looking to build koumtzis and having as vice pres- which is considered a prerequisite social organizations, with the eloquent title!), the communication and ident for general affairs the jour- qualification for teaching, under oldest being the «Cultural As- nalist Mr. Spyros Agarnti. the Hungarian education law. sociation of Greek Hungarians», Hungarian Ambassa- cooperation bridges, ΑΕΟΥ’s desire and effort is to which was established in 1982, dor in Greece and the offering -and antici- Maintaining the flame make changes on this issue as also operate outside ΑΕΟΥ. There head of the Hungar- pating- partnership of Hellenism soon as possible. AEOY is also are also dance groups, choirs, ΑΕΟΥ and its institutions’ mis- responsible for the operation of musical bands, youth clubs, etc., ian National Trading opportunities with sion, is to maintain and cultivate the cultural center and the Belo- which ensure that the Greek el- House, describe meth- Greece. the Greek traditions, customs, giannis village library, as well as ement remains alive and active guaranteeing that students of the «Cultural Institute of Greek in Hungary. Sunday 4 December 2016 Hungary - Leaps in growth | 3 Hungarian Rhapsody... History, arts, sciences, inventions, great achievements of the past and the present. An impressive mix that creates the profile of a historic nation.

The Hungarian people are proud not only for their historical past, but also for the achievements they have demonstrated during their long course.

ven though it is a decimated half the population. tests to the Hungarian people. Inventions and achievements er), binoculars (József Petzvál), country with fewer Three hundred years later, the The country was incorporat- The historical events of the PBX (Tivadar Puskás), color than 10 million in- country is divided into three ed in the countries controlled by country are not only geopoliti- television (Peter Károly Gold- habitants, Hungary parts: the Kingdom of Hungary, USSR and the Soviets took effec- cal. Major Hungarian personali- mark), carburetor (Donát Bán- is the birthplace of the dominion of the Habsburgs tive command of the country for ties contributed to the progress ki and János Csonka), the first Εgreat artists of intellect, arts and the Turkish dominion. Af- a period of 44 years. In 1956 the of world civilization. By glean- helicopter (Oszkár Asbóth), the and sciences. The internation- ter the end of the Ottoman rule, Hungarian people tried to end ing some of the many examples Rubik’s cube (Ernő Rubik), and al recognition of their work, that portion fell into the hands the Soviets’ control, but without of important Hungarian inven- the digital computer (John von has yielded 13 Nobel prizes so of the Habsburgs. any success. tions, worth mentioning are: Neumann). far! A country which for years By the mid-19th century, The Soviet domination ended the first nuclear reactor (Leo The Hungarians have a long remained in the tight circle of revolutions for independence with the collapse of the Soviet Szilard), the first electric ma- history of success in sport, as the eastern block, is currently broke out in Europe. Thus, in Union and so Hungary became chine (Ányos Jedlik), the safety Hungary holds the 8th position «reintroducing itself» in the 1848 the Magyars challenged an independent republic again. match (János Irinyi), the ball- in ranking of medals for the global community, with a new the dominion of the Habsburgs. In 1999 the country joined NATO point pen (László Biro), vitamin Olympic Games in all times. face, combining a mixture of After the revolution, the silent and in 2004 it became a member C (Albert Szent-Györgyi), the Famous for its richness in folk historical past and ambitious resistance reinforced the Hun- of the European Union. hydrogen bomb (Edward Tell- traditions, Hungarian music future. garian nation, when in 1867 an ranges from the rhapsodies agreement was reached with the of Ferenc Liszt, the composi- From nomads Habsburgs, which gave birth The country with the 13 Nobel Laureates tions of Béla Bartók and Zoltán to a modern state to the Austro-Hungarian mon- The fact that Hungary Szent-Györgyi (Medicine Kodály to the Hungarian gypsy The Hungarians were nomad- archy system. With the end of accounts for 13 personalities - 1937), George de Hevesy music. ic populations and are believed World War I, which meant the Other representatives of the who have been honored with (Chemistry - 1943), Georg to have moved to the Carpathi- dissolution of Austria-Hungary, country in arts and letters are the Nobel Prize, perhaps the von Békésy (Medicine an basin from the east and par- the victorious powers (with the the journalist József Pulitzer ticularly the Ural Mountains. Treaty of Trianon) divided the most important institution - 1961), Eugene Wigner (Pulitzer Prize), Tony Curtis, Under the leadership of Arpad, country. for recognition of significant (Physics 1963), Dennis Gabor William Fox (founder of Fox they settled in the area around Hungary, with a population of offers to humanity, is (Physics - 1971) John Polanyi Studios), and Adolph Zukor, 895 AD. In 1000 AD, King Ste- over 20 million, was left with certainly impressive, the very (Chemistry - 1986), George creator of Paramount Pictures. phen I (St. Stephen) founded only about 8 million inhab- least. 1905 Philipp Lenard Olah (Chemistry - 1994), John Nowadays, Hungarian authors the Hungarian state and its itants. Having the first inde- (Physics - 1905), Robert Harsanyi (Economics - 1994), have presented achievements people embraced Christianity. pendent government of modern Barany (Medicine -1914), Imre Kertész (Literature like Prezi (cloud software appli- Around 1240 AD the Mongolian times, the country was renamed Richard Adolf Zsigmondy -2002) Avram Hershko cation) and LiTraCon, a trans- invasion caused serious damage to the Republic of Hungary. The (Chemistry - 1925), Albert (Chemistry - 2004). lucent building material, strong to the country, while it nearly Second World War brought new like concrete. 4 | Hungary - Leaps in growth Sunday 4 December 2016 Hungary: In steady growth trajectory Over the last years Hungarian economy is going through a steady growth path and an expansive The number of manpower employed in the automotive industry has increased significantly, reaching the amount of 150,000 policy, offering attractive prospects on investments. workers in 2015. he radical sociopo- Prospects facilities, R & D, logistics, green vested in the country, are making it appears that the automotive litical changes that and investment incentives energy production, service centers, their plans for the future, happily industry is still one of the most have taken place Hungary as a member of the Eu- investment in the tourist industry learn that the State is committing important and fastest growing in the countries of ropean Union (EU) has formulated etc. The stimulus package includes to further support and improve sectors of the Hungarian econ- central and eastern a favorable regulatory framework, capital grants, tax breaks and sub- the business climate. omy. It contributes 30.1% to the TEurope in the early 1990s, influ- which provides an important incen- sidies for job creation and staff Those intentions are con- overall manufacturing industry enced the Hungarian economy, tive for domestic but mainly foreign training. The incentive scheme is firmed by the Hungarian econ- and is about 20% of the total of which was transformed into a investors that have contributed to compatible with the EU regulations omy remaining stable in growth Hungarian exports. It is impor- market economy, leaving behind the economy more than $ 92 billion on competition and state aid, grant- since 2013. In 2014, the country tant to mention that the number the practices of a closed-type in foreign direct investment since ed by the Hungarian Investment achieved a growth of 3.7%, the of manpower employed in the Eastern block economy. Hunga- 1989. 77% of these come from the Promotion Agency (HIPA). third highest percentage among sector increased significantly, ry’s medium-sized, by European EU, while Germany holds the lion’s Finally, Hungary actively em- EU members Growth continued reaching the amount of 150,000 standards, economy was based share with 24%. braces Research & Development at a rate of 3% for 2015, while workers in 2015, while over half mainly in the country’s heavy and Innovation (R & D & I): Ac- for this year the expectation is a million cars were manufactured industry. cording to planning, the country around 2.5%. in Hungary last year. Overall, four In particular, energy, machin- The government will double its support for R & D The fact that the macroeco- major automotive companies, and ery, production of chemicals, announced that in & I investments, providing an aid nomic stability of the country 43 of the leading suppliers in the automotive, plastics, food and of over 2.2 billion euros between rests on a solid foundation and world market, are productively pharmaceutical products, are the 2017 they will in- 2014 and 2020. not only in development is worth active in Hungary. most important of the sectors troduce a flat 9% mentioning: in 2012 the budget In regards to agriculture, that have played an important corporate tax rate Tax and insurance deficit was already below 3% of Hungary remains an important role in the overall financial pic- Although the general VAT rate GDP, while in 2015 it decreased producer of many agricultural ture. Namely, food industry still which will be the is 27%, there are reduced rates of to 2.0%. Similarly, the public products in Europe – surpris- represents 14% of the total in- lowest in the EU. around 5% in magazines, books, debt is continuously reduced, ingly, inversely proportional to dustrial production and about drugs, central heating, and in 2017 reaching 75.3%, as a percentage the size of the country- placing 8% of the country’s exports. An The Hungarian state encourages this reduction will be extended in of the GDP, at the end of 2015, food industry in a high position. important role in the ongoing investment in both the production poultry, eggs and fresh milk. which will seem to give signifi- Agriculture and food industry development of the Hungarian of goods and high value-added sec- Meanwhile, internet and restau- cant trade surplus in the coming yield nearly 7% of the GDP and economy, is played by the sector tors such as research and devel- rant services fall under the rate of years. contribute work positions to the of services, which contributes opment centers, manufacturing 18%, while banking and insurance overall employment rate, exceed- more than 60% to the GDP of the facilities and service centers. It is services, services related to in- The most profitable sectors ing 8% of it. country. The services sector is generally believed that there are vestment and sale or rental of real for investment, in numbers Focusing on the geographic developing positively in the last also significant opportunities in the estate are completely exempt from Based on the results of the first distribution of the projects, the 15 years, attracting investments fields of biotechnology, information VAT. The corporate income tax rate half of 2016, the highest number progress in remote, rural areas is in a variety of services such as, and communications technology, is progressive and remains low. of completed investment projects remarka ble. One of the driving for example, the logistics sector. software development, in agricul- For 1600000 Euros the tax base involve the automotive industry. forces behind it, is the subsidy An important criterion for at- ture and tourism. Hungary has a is rated at 10%, while for larger A magnitude given shows that out scheme, which increases propor- tracting investments is the geo- well-organized system of incen- amounts the coefficient becomes of the 38 projects launched suc- tionally depending on the loca- graphical location of Hungary. tives for investors to cornerstone 19%. The minimum wage has been cessfully, 15 are associated with tion of the project, with remote Being in the heart of Central a special incentive package for formed in the average-weighted this industry. areas absorbing more funds for Europe, the country serves as investments exceeding 5 million level of 356 euros gross salary, In a more detailed approach, projects. a center for transportation of euros. Incentives focused on invest- while employer contributions ac- goods and of workers. ments in establishing production count for 28.5%. But state sup- Key reasons to invest in Hungary port and EU incentives are not the only incentives for investors. • Competitive Tax System location The high-quality infrastructure, a - 15% flat-rate personal • Highly developed competitive tax system, a skilled income tax logistical, transportation workforce, a flexible labor code, - Corporate tax rate of 10% & telecommunication location, are just a few of a mul- up to EUR 1.62 million, infrastructure titude of small and larger factors, (beyond that amount 19%) • High level of educational making Hungary in total, an ideal - The government system, 21 international investment destination. announced that in 2017 schools they will introduce a flat • Establishment cost of Investment opportunities 9% corporate tax rate companies in Hungary in Hungary which will be the lowest int - Limited Partnership Today, Budapest has become he EU. 235-555 € the second largest commercial • Well-qualified, cost - Limited Liability Company properties market in Europe, a effective labour force 395-825 € factor which translates to more (average 7 €/hour) - Joint Stock Company than 3.280.000 m2 of modern • Investment friendly 395-825 € office infrastructure for the political measures • Establish a company and Hungarian capital. Investors (financial support, tax start business in 5 days in Hungary can find more than allowances) • Excellent industrial park Four big companies of car industry, as well as 43 from the bigger 700 “investment friendly” points, • Strategic geographical & office infrastructure suppliers of world market, are present in Hungary. while those who have already in- Sunday 4 December 2016 Hungary - Leaps in growth | 5 How Hungary successfully dealt with the crisis The State Secretary for Economic Diplomacy, Ministry of Foreign Affairs and Trade, Levente Magyar, elaborates on the recipe for the country’s successful economic course in recent years.

TEXT 3.7 million people working in Levente Magyar 2010 to almost 4.4 million peo- ple working today. At the same n the year 2010, the then time, the unemployment rate incoming current govern- has dropped from 11.2% to a ment was confronted with mere 4.9%. an extremely challenging economic situation in the Internationally Iwake of the crisis that had hit recognized results Hungary earlier than Greece and Over the years, wider econom- also with more severe conse- ic circles have also gradually rec- quences. To be able to solve such ognized the continuous exempla- a predicament it had to assume ry performance of Hungary, and an entirely unorthodox approach an era of downgrading has been as opposed to the classic set of followed by an era of upgrad- measures habitually deployed ing. First, in June 2013, the EU in similar situations. abrogated the excessive deficit procedure that had been going Aiming to modernize on for 9 years, basically from the the economy moment of the country’s EU ac- The Government broke away cession. Then, within the course The State from the traditional recipe of of a few months in 2016, all the Secretary for the IMF that would have built three major credit rating agen- Economic solely on severe austerity meas- cies increased Hungary’s rating Diplomacy, Ministry of ures and tax increases, there- to the level “recommended for Foreign Affairs by crippling the economy even investment”, clearly signalling and Trade, more. Instead, Hungary stepped the beginning of a new era in Levente on a path of so-called ‘unortho- debt financing and growth op- Magyar. dox’ measures, the main aim of portunities. which was to re-orientate the Hungary is an open economy, country from a welfare-based where particular emphasis is towards a work-based economy. An important objective was to (Hungarian Export-Import Bank Bosch, ThyssenKrupp, Samsung the Government offers an inves- make Hungary the production Hungary is a and Hungarian Export Credit In- SDI, Nestlé, British American tor-friendly system of corporate centre of Europe in order to ac- bustling business surance Co., collectively EXIM). Tobacco). taxation and wide-ranging in- celerate and stabilise economic 2015 was the year of records centives – both refundable and growth. By now, in addition to hub situated Gaining the trust in external trade as well, with non-refundable – to facilitate the aforementioned goal, an- at the very heart of of foreign investors historically high export volumes foreign direct investment and other one has also been set, Europe, which As for foreign direct investment, totalling EUR 90.5 billion and a reinvestment by local enterpris- namely to turn the country into the Hungarian Investment Pro- trade surplus of EUR 8.6 billion. es. The main types of incentives a research, development and makes the country motion Agency (HIPA) assisted This represents a growth in ex- include cash subsidies (either innovation hub. ideal for 67 projects that led to positive ports by 7% over the previous year, provided by the Hungarian Gov- It goes without saying that a manufacturing, investment decisions in 2015. and a whopping 37% increase in ernment or from EU Funds), tax prudent budgetary policy has The total value of these projects the positive trade balance. The incentives, loans with favourable also been part of the meas- services and amounts to EUR 1.4 billion, they trend has continued this year, too: interest rates, and land provided ures. As a result, Hungary has logistics create 13,000 new jobs in the between January and September free of charge or at a reduced demonstrated that budget dis- country. Reassuring is the sign 2016, Hungarian exports reached price. The Government has re- cipline and economic growth that more than 2/3 of these pro- EUR 69.4 billion, the total trade cently decided to amend the sys- were not at all mutually exclu- jects were re-investments by volume was EUR 131.1 billion, and tem of cash subsidies for major sive. Favourable developments placed on encouraging foreign companies already established the trade balance showed a surplus investments: besides granting unfolded, especially in the last investment and facilitating ex- in Hungary (e.g. Samvardhana of EUR 7.7 billion. Compared to the incentives for job creation, the four years. GDP growth in 2013- ternal trade. In order to ensure Motherson Group, Continental, same period of 2015, this indicates new system will also make state 2015 averaged at around 3%, the most efficient coordination, Mercedes-Benz, Audi, Opel, NHK a 2.9% growth in exports, and an subsidies available for knowl- and is expected to exceed 2% all major institutions of external Spring, Tata Consultancy Ser- increase of the surplus by EUR 1, edge-intensive investment that this year, too. Exports, as well economic relations have been vices). With the end of 2016 ap- 221 million. bring cutting-edge technology as the surplus of external trade, restructured under the supervi- proaching, it can also be conclud- into the country. break new records almost each sion of the Ministry of Foreign ed that this year the key figures Facilitating entrepreneurship According to the database of year now. Since 2012 the budget Affairs and Trade. Currently, this have been on the increase: until One of Hungary’s competitive DTZ, Hungary has the lowest deficit has been kept well be- system includes the agency for the end of October there were advantages over other countries rental prices in prime locations low the 3% Maastricht limit and trade development (Hungarian already 64 positive investment in the region is the Government’s (EUR 16/m2/month) and the public debt has been continu- National Trading House, MNKH), decisions with HIPA’s assistance, strong commitment to stream- lowest office costs per employee ously declining, from 80.8% of the Hungarian Investment Pro- whose combined investment value lining business processes and (EUR 2,380/employee/year) in the GDP in 2011 to 74.7% at the motion Agency (HIPA), the fi- will be close to EUR 3.2 billion, increasing the competitiveness the region. There are over 200 end of 2015. Employment has nancial institutions dealing with creating 16,100 new jobs (some of SMEs and large firms in Hun- industrial parks throughout the rapidly increased from about export financing and insurance examples: Mercedes-Benz, Robert gary. To promote this objective country. 6 | Hungary - Leaps in growth Sunday 4 December 2016

The organizational role of the Hungarian Chamber The organizational role of the Hungarian Chamber Hungary’s ongoing economic development, includes protagonists that play a key organizational role in managing international investments.

TEXT eraging the extensive experience fostering the development of the ternational levels, as well as Dr. Laszlo Parragh, president Dr. Laszlό Parragh gained through many years of economy, promoting fair mar- fostering capital exports have of the Hungarian Chamber of operation. hambers of commerce ket practices and represent- also become focal objectives Commerce and Industry. and industry in Hungary have ing the joint interests of those for the Chamber. The HCCI’s he Hungarian State a long history: their traditions conducting business activities. foreign trade strategy follows has introduced vari- run back over more than 150 These activities are intended the key elements of the govern- tion and business promotion ser- ous incentives to at- years. Currently the Hungarian to strengthen the Hungarian ment’s “Opening to the East” vices to companies interested in tract investments, Chamber of Commerce Industry business community, primarily and “Opening to the South” poli- a particular country or region. To both from within (HCCI) operates as an “umbrel- the SME sector, and to increase cies and is implemented in close assist Hungarian entrepreneurs in theT country and from interna- la-organisation”, incorporating their competitiveness on both co-operation with the Ministry exploring new partnership oppor- tional markets. These incentives, and co-ordinating the activities the domestic and international of Foreign Affairs and Trade and tunities the Chamber organizes combined with the support of of 23 regional chambers on na- markets. The introduction of a its agencies, the National Trad- business forums, B2B meetings European Union funds, give sig- tional and international level. Its compulsory chamber registra- ing House Zrt., the Hungarian and trade missions. It also of- nificant impetus to the develop- voluntary membership is made tion system in 2012, enabling Investment Promotion Agen- fers extensive information and ment of the Hungarian economy. of over 20 thousand businesses the HCCI to build a database cy (HIPA) and the integrated consulting services. The HCCI’s One of the main protagonists in from the commercial, industrial, containing the data of about export-import bank and credit online Export Directory, launched the effort for development, is handicraft and services sectors 600,000 business entities, was a insurance agency (EXIM). two years ago, is one of the most the Hungarian Chamber of Com- representing both companies major contribution to improving comprehensive online databases merce and Industry (HCCI). It and self-employed entrepre- the transparency of the econ- Provision and activities of Hungarian exporters, freely has the responsibility to manage, neurs. omy. International activities are fo- accessible for all foreign compa- both domestically and in Euro- In addition to its traditional cused in the HCCI-administered nies who are looking for specific pean level, the development and The Hungarian tasks, increasing Hungarian ex- bilateral committees, business products or services from verified cooperation opportunities with Chamber’s responsibilities ports by improving the SME’s councils and joint chambers offer- Hungarian manufacturers and other partner organizations, lev- The HCCI’s main tasks include market positions at EU and in- ing networking forums, informa- service providers. Greece - Hungary: considerable potential for bilateral business relations Hungary’s ongoing economic development, includes players that play a key organiza- tional role in managing international investments. The President of ACCI, Mr. Konstanti- nos Michalos, substantiates the potential for further cooperation development between Greek and Hungarian enterprises.

TEXT EU members. In recent years zation of the domestic economic and will continue to support the Konstantinos Michalos Greek companies have made a environment and the reduction widening and deepening of busi- leap of expansion, which acts as of uncertainty about the pros- ness relations between the two a buffer against the effects of a pects of the Greek economy, countries. Through systematic ungary and Greece prolonged recession in the Greek are reflected in the estimates actions we contribute to the fa- are linked with economy. Companies invest in for downturn halting and re- cilitation of networking between friendly ties that developing their presence in for- turning to positive growth by entrepreneurs, to the provision trace their roots eign markets more and more, by the end of 2016. Greece, having of reliable business information, back in the Byzan- adjusting their production and implemented many necessary but also to helping overcome any Htine era. These relationships operating models to the demands reforms, is in a better position obstacles in language matters, are maintained and strength- of international competition. to exploit opportunities in a va- customs and other administrative ened through the activities of Despite continuing challenges riety of areas, such as energy, procedures, banking etc. the Greek communities that in the domestic economic en- combined transport and trade, Our initiatives will certainly flourished in Hungary during vironment, Greek companies tourism, biotechnology, organic continue, in cooperation with the 18th and 19th century, cre- steadily improve their export farming and standardization of the bilateral business councils ating bridges of cooperation and performance and confirm that agrifood products. and the two countries expan- understanding between the two expansion is not a necessary op- In all these areas, we believe sion bodies. Economic and trade nations. Culture, arts and trade tion, but a strategic orientation. that there is margin for the de- cooperation between Hungary were temporal fields for fruitful They manage to constantly velopment of fruitful coopera- and Greece is based on strong contacts. upgrade the quality and com- tion between Greek and Hun- foundations. It should and can Today there is room and possi- petitiveness of their products, be further developed by creating garian enterprises. The Chamber Mr. Konstantinos Michalos, is bilities for a further development but also be consistent, reliable Community of Greece, under the mutual and significant benefits President of the Commercial of bilateral economic relations, and useful partners to their promotion of the internationali- for businesses, for economies and Industrial Chamber of as Greece and Hungary are both business partners. The stabili- zation of its members, supports and for their peoples. Athens. Sunday 4 December 2016 Hungary - Leaps in growth | 7 Close cooperation as an antidote to difficulties The way Hungary overcame its financial problems, can be a positive note in the Greek crisis.

the valuable cultural relations regard, allow me to also salute TEXT Erik Haupt between our countries, our the activities of the newly re- nations. I am very glad to say generated Greek-Hungarian that these relations have been Business Association and of he times we live in developing at a rapid pace in the newly created ALX Greece are turbulent and the recent years. We managed Ltd., representative of the Hun- rather troublesome. to successfully introduce many garian National Trading House Europe as a whole different aspects of Hungarian organization. I encourage every is facing multiple culture to the Greek audience, interested entrepreneur or in- Tsignificant challenges and sadly starting from folk music, clas- vestor to turn to our friends at enough this sometimes causes sical music and literature to ALX with confidence. frustration, distrust and dis- visual arts and culinary arts. The domino effect of the tancing even among the mem- In the past year the Embassy 2007-2008 global financial and bers of our common family. In helped organize several music economic crisis hit both of our hard times we tend to forget concerts, dance performances, countries hard, but I am confi- that we are after all connect- exhibitions and lectures, and I dent that both our economies ed inseparably by centuries must say that the Greek audi- will emerge stronger from the of history. As an Ambassador ence has been very open and crisis. Even though Hungary has however I like to concentrate very receptive of what we had been the first country in Europe on the things that unite us, in- to present. I am sincerely happy to turn to the IMF at the begin- stead of the few things that we about this. ning of the crisis, we have since sometimes disagree on. Allow But the tasks of our Embassy repaid all our debts to them, me therefore to take this oppor- are rather diverse and cultur- and Hungary’s economy is now tunity to briefly remind the kind al relations – however impor- one of the top performers in the readers of the thousand years tant – are only a part of it. I EU. Most notably, it managed to of historic bonds of friendship believe that another key tool accelerate at a time when eco- uniting Greeks and Hungarians in bringing our nations even nomic growth for the whole of in particular. closer – especially being able Europe showed signs of weak- We know of records proving to build on the historic friend- ness. All sectors of our econo- that Greeks and Hungarians had ship and trust which I tried my are expanding, industrial been fighting side by side as to highlight in the above – is production has grown by more early as the Byzantine times economic and business coop- than 20% since 2010. Trends and as early as the Hungarians’ eration. It is more important in the labour market are also arrival in the Carpathian basin. than ever for our business com- positive; unemployment stands The first Christian bishop of munities to contribute to the at 5%, the lowest since the sys- the Hungarians was Greek friar economic growth of both our tem change 26 years ago. The Hierotheos, and the first monas- countries. That is why I would very evident results have been teries in Hungary (following the like to reassure everyone that recognised by all the big rating Skizma) also praise the work of the doors of our Embassy are agencies lately. News coming Greek monks. It is interesting always open to help map and from the Greek economy are to know, that the lower half of extend business possibilities for also improving, and the very the Holy Crown of Hungary – Greek and Hungarian entrepre- heavy sacrifices of the Greek one of the most important Hun- Mr. Erik Haupt is the Ambassador of Hungary in Greece. people are hopefully starting garian relics, which symbolizes to bear fruit. The Hungarian our statehood – was sent to the Hungary somewhat later. the prospering of not only Hun- ... the doors government and the Hungarian Hungarian court by Byzantine The 17th century saw the gary’s economy, but its cultural people recognize and applaud emperor Michael VII Doukas. significant influx of Greek life as well. of the Hungarian your great efforts to overcome Tthus the crown’s name; Corona merchants into Hungary, who There are several chapters Embassy are the difficulties. Graeca. played an important role in the of common interest also from always open, Numerous ties have been creation of a modern economic modern history. Hungarians are established between Greek life there, following the liber- proud that many Greeks fleeing to help and Hungarian noble families ation from Turkish rule. Greek from the Greek civil war found map and extend Mr. Erik Haupt is the Ambassador in the following centuries as communities and trading com- refuge in Hungary, in a village business of Hungary in Greece and in Cyprus, well, probably the most well panies were established in many called Beloiannis. We are even since October 2015. Born in Budapest, known in Greece is the mar- of our cities, and the orthodox more proud that most of the possibilities for he studied Modern Greek Philology riage of Byzantine emperor II. churches erected by them still families having moved back to Greek and and History at the Eötvös Lorand- Ioannis (or Ioannis Komnenos) stand as valuable relics of these Greece since then are still close- Hungarian University. He served abroad earlier and Irene, daughter of our king times. Many Hungarian prod- ly linked to their second home, as First Secretary at the OSCE- Saint Ladislaus. Their son, Ma- ucts made their way to the Eu- while the ones who stayed are entrepreneurs Mission of Hungary in Vienna, then nuel I. Komnenos was one of the ropean markets thanks to our still practicing their traditions and investors as Ambassador of Hungary in Estonia. most popular rulers of Byzan- Greek friends; Hungarian wine day by day. Beloiannis is a living He has published several articles on tium. Following the fall of Con- most notably, even to the table link between our two nations. neurs, investors. My colleagues the history of the Greek Community in stantinople in 1453, the present of Louis the XIV. The thriving As Ambassador it is my duty and I spare no efforts to con- Hungary during the 18th-19th century territory of Greece became part Greek merchants who settled and personal objective to not tinuously explore opportunities and translated works of Greek poets of the Ottoman Empire, as did in Hungary later contributed to only maintain, but to deepen for mutual investments. In this into Hungarian. 8 | Hungary - Leaps in growth Sunday 4 December 2016 Innovative, high specialization and widely applicable solutions The Hungarian National Trading House (MNKH), designs and implements actions towards enhancing export activity that cover a wide range of interests in many sectors of the economy.

he competitive advan- tages that one can find today in the Hungari- an economy are nota- ble. Due to its central Tgeographical location, the coun- try is a link between Eastern and Western Europe, and also has a highly skilled workforce in vari- ous productive sectors. Based on these advantages and using mod- ern technologies, the Hungarian companies produce high quality products and provide high added value services, with high levels of innovation and competitiveness. The Hungarian National Trad- ing House has prepared export development strategies, providing support and information to those seeking business opportunities, partners or affiliates in Hungary. A more detailed reference to the sectors and activities of interest to the Greek market follows.

Food industry Agricultural production throughout the country is with- out Genetically Modified Organ- isms (GMOs), which is reflected in a wide range of food. Strictly Hungary allocates advanced solutions for “smart cities”, as the hybrid vehicles of urban transport, that are based on “green” technologies. controlled certification systems apply to all sectors of the agri- cultural industry in Hungary. Agriculture cesses, improvement in quality search and development, in inter- ple diagnostic devices for con- As defined by the Constitution and farming technologies and reduction of costs is achieved. national medical technology and sumers, CO2 or water treatment of Hungary, growing and using Geographical position and cli- • Robotic Systems: They are pharmaceutical markets. Some devices, etc. genetically modified crops is for- matic conditions of the country, systems that are usually con- product categories and skills ex- • Biotechnology: Biotechnological bidden. This ensures the produc- combined with modern, applied trolled via internet and mobile ported by Hungarian enterprises companies and laboratories with tion of agricultural products and technologies, have classified the phones. The regions covered are are: products with specific active research and development activ- processed foods, totally free of Hungarian agricultural produc- monitored through a centralized pharmaceutical ingredients, phar- ities in Hungary have achieved GMOs. Hungary produces food tion among the top ones in the system, while it is possible to maceuticals, vaccines, medical internationally recognized feats of excellent quality in categories world. The cultivated areas cover create complex structures with devices, technologies for record- and provided opportunities for such as: dairy, meat and meat 5,300,000 hectares, almost two individual areas based on the data ing patients, Corporate Resource cooperation and investment in ar- products (beef, pork, lamb, tur- thirds of the country’s entire land. (temperature, humidity, rainfall, Planning, blood bank systems, eas such as research and develop- key, chicken, goose, duck, rabbit, This is one of the highest propor- chemical composition of the soil, systems for epidemiological and ment of pharmaceutical products, hunting), cured meat, eggs, fruit tions of arable land worldwide, etc.). These systems offer efficien- pharmaceutical databases, tele- cancer research, nanotechnology, and vegetables, confectionary & while if the combined length of cy, fuel economy and complete medicine healthcare management biotechnology services, next gen- snacks, flour and pasta, spices rivers -which exceeds 50,000 culture control. platforms, mobile applications, eration sequence, bioinformatics, & oils, sauces, herbs and tea, km- is counted for, it is obvious • Imaging and image recognition remodeling applications and human diagnostics, etc. honey and jams, soft drinks and that the country has excellent systems: imaging and recognition health protection systems, train- • Pharmaceuticals: International- juices, alcohol (wine, beer, spir- agro-ecological characteristics helps identify parasites, providing ing and management systems for ly renowned Hungarian products its), canned foods, dietary sup- that allow diverse large scale accurate and timely information providing institutional service, excel in the global marketplace plements, health foods, frozen production. Crops, vegetables, for effective treatment. clinical research and quality as- and meet high quality standards foods, organic foods, special foods rangelands and pasture man- • Drones and sensors: Flying surance etc. and monitoring requirements. ( gluten-free, lactose-free, halal, agement and animal husbandry, drones provide high resolution • Medical devices and applica- These include products such as: kosher, sugarfree) etc. provide high yields, which further imaging and are inexpensive, tions: Manufacturers have a long generic, pharmaceutical prod- In recent years, the use of in- strengthen the country’s acces- functioning as remote sensors. tradition and excellent know-how, ucts, vitamins, food supplements, formation technology and commu- sion to the European Union. manufacturing products, devices strategic priority products man- nication technology has become • Agribusiness management Health and health care sector and applications such as CT scans, ufacturing services to original particularly important for agricul- systems: These are systems that Hungary has excellent exper- microscopes, arteriography, elec- manufacturers for pharmaceu- ture and food production in Hun- trace the specific needs of agri- tise and broad experience in the trocardiographs, monitors, inten- tical formulations, separately gary. The development of modern cultural enterprises, collecting in- health sector and in the medical sive care monitors, defibrillators, processed vitamins, nutritional procedures that comply with the formation for their management field. These areas offer innova- incubators and heating tables for supplements, production of pri- latest trends, plays an important and monitor mixing plants, fuel tive products of very high quality, infant care, dental equipment , vate label products and produc- role in improving productivity or milking stations. By utilizing from companies that are recog- hospital equipment, medical tion services for other brands. and increasing efficiency. the systems, transparency in pro- nized for their innovation, re- handheld devices, implants, sim- • Medical cosmetics, pharma- Sunday 4 December 2016 Hungary - Leaps in growth | 9 ceuticals: Large market shares monitoring of their operation, environmental requirements of tlement, supported by scientif- occupy most cosmetic and health using 3D scanner laser technol- the 21st century, both techno- ic knowledge and engineering Having the recipe improvement products such as: ogy, combined with complex ge- logically and in know-how. As a technologies, has a history of 200 for success general health improvement ographical information system result of innovative development, years in Hungary. Technological Far East: supported by products, creams, teas & herbal (GIS). Traffic management industries associated with the river services, have advanced MNKH, Hungarian food com- medicines, baby care products, Public Transport: Car fleet mon- waste treatment sector in Hun- knowledge and experience based panies export to China prod- dermatological products, etc. itoring by GPS, traffic control, gary, offer innovative, inexpen- on hundreds of years of records. ucts such as chocolates, bis- installation of passenger infor- sive and competitive solutions. A Flood control: Design and con- cuits, pastries, wines, etc. The Information and mation systems. Ticket purchase description of the management struction of tanks, fixed and mo- value of Hungarian exports Communication solutions through mobile phones process operation steps follows: bile barriers, are high priority to China in 2015 amounted Technologies - ICT and other «smart» markets. Collection: The waste is collected export products, which are very to 1.62 billion euros. In ad- Hungary’s potential in the ITC Power Management: Developing regionally, with collection lines competitive in the internation- dition, Hungary also has in- sector is shown mainly by the urban renewable energy sources supported by information sys- al market. Engineering work is vestment relations with both large number of innovative com- and ensuring measurability of tems, in order to design the opti- complemented by technical solu- South Korea and Cambodia in panies that have developed in sources. Smart street lighting mal routes. Information for coor- tions used during the flood con- the Asian market. recent years. The excellence in systems. Drinking water purifica- dinating the collection operation trol work eg pumps, specialized Russian Federation: In the exports in the ICT sector, which tion and wastewater treatment: is available in real time. Suitable earthmoving machinery). field of rural innovation ap- is among the most important el- Centralized system for drinking means of transport are used for Water purification: Based on plications, MNKΗ promoted ements in Hungarian industry, is water and wastewater treatment semi-automatic emptying of the Hungarian engineering expertise, Hungarian firms’ activities demonstrated by companies like with the support of information bins on site. Computerized record innovative solutions have been for cooperation with the Prezi.com, NNG and LogMeIn. «Centre for Rural Innova- The volume of exports of soft- tion and Investment» of the ware and ICT services reached Republic of Tatarstan (mem- 1 billion euros in 2014. Products ber of the Russian Federa- and ICT applications are devel- tion) on the implementation oped by Hungarian companies of pilot fruit and vegetable mainly in the following areas: plantations. Furthermore, a development of software appli- contract was signed for joint cations and games, cloud technol- trial plantations, laborato- ogies, data security, communica- ry tests, surveys and large tion M2M (machine-to-machine), scale business and scientific telecommunications and infra- cooperation between the two structure, management and data parties. analysis, consulting. Middle East: Companies Based on the above skills, Hun- affiliated with MNKH and garian companies have signifi- involved in the design and cant presence to complex high- manufacture of industrial tech projects indicatively related measurement devices, recent- to: document management, con- ly launched their cooperation tent management, energy man- with Iranian companies for agement, geographic information local market distribution of systems (GIS), digital signature, electricity meters, floats, security certification, digital toll magnetic cards and other systems, municipal parking sys- similar products. tems, customer service, clinical Africa: Supported by information systems, and more. Because of the high specialisation of her human potential, Hungary constitutes choice of big MNKH, Hungarian compa- multinational groups for the installation of lines of production. “Smart City” Applications nies exported solar lamps in Sudan, totaling over 2 million The concept of the «smart systems. Wastewater treatment keeping for capacity planning and developed that clean groundwa- euros, exceeding the hitherto city» describes a constantly ex- facilities, environmentally friend- related charges. ter, surface and marine water total value of Hungarian ex- panding open system which can ly and low energy cost opera- Transfer processes: Depend- with great efficiency. Mobile ports to Sudan! easily be adapted to current and tions. Utilization of wastewater ing on the volume and level of container solutions are used in future needs of the cities, giving and biogas from wastewater. hazard , various superstructures agriculture, food industry, drink- answers to technical, environ- Waste management: selective are added to the waste collection ing water and bottling. design and construction of spa mental and social challenges. collection systems, for recycling and transport vehicles. Provision Water Consumption: Solutions facilities, wellness, healthcare, The Hungarian companies that and energy collection from waste. is made to fulfill specific tasks for the entire production cycle geothermal and related services. are active in this field perform Smart collection and transporta- with special equipment (eg snow water consumption residential Water Researc h: In the water complex researches in accordance tion of waste. blades, cleaning tools, plant care areas, regardless of service re- sector, the research work in the to the development plans of ur- Environmental: climate pro- accessories etc.). sources (geological exploration, country, has a long tradition of ban areas and the rehabilitation tection and air quality control. Waste recovery: Waste is collect- drilling, etc.). The cleaning equip- more than one hundred years. projects on existing structures Water and soil protection. Instal- ed in specially designed units by ment produces drinking water, to Thus, extensive experience has of cities. Thus, they can offer lation of centralized monitoring manual or fully automated meth- exacting standards, using ground been gained in mapping and ex- their partners a combination of and warning systems. ods. There they can be reused, or surface waters. Combined with ploiting water resources through expertise and knowledge with Education & Culture: Infor- recycled as energy sources or be metering solutions with analog conducting geological research innovative technologies and de- mation system development for deposited. The organic waste can or digital transmission systems. and technique management R & velopments facing the future, «smart» tickets. Distance learn- be used to produce biogas. The Wastewater treatment: Han- D programs. aiming to modernize cities and ing with on-line courses and sem- management of non-recoverable dling industrial, agricultural Energy Production: It involves regions. Among the applications inars. Digital library, digital files. waste is done by incineration, wastewater and rainwater. Use the design of fixed power sta- developed by specialized compa- Information Technology: Com- landfilling and other methods. of waste water for energy pro- tions for running water and fast nies in the sector, indicatively prehensive security and IT in- duction. growing container solutions for are included: frastructure. Record archiving Water resource management Irrigation: Innovative irrigation emergency situations in areas Urban Planning: Smart urban systems for vehicles, population Maintaining the natural water technologies for the industrial without connection to the mains planning and urban infrastruc- and epidemics. cycle is supported by a range of sector, protect existing water and in remote geographic loca- ture development. Development Public security and civil protec- methods, technologies and solu- resources and manage periods tions. The installed capacity of and installation of parking sys- tion: Integrated operation center tions. Hungarian companies have of drought. Solutions for irriga- these installations ranges from tems with payment applications development. Installation and developed a wide range of sus- tion water production (eg from 50 kW up to several MW. via Internet and mobile phones. operation of signaling and re- tainable and internationally com- salt water), to save water and Road networks’ development: sponse systems. petitive systems that meet the ensure availability. Computerized Design and construction of track requirements of higher environ- sprinkler systems, drip funnel, a or open road systems, installation Waste management mental standards. A description retention are supported. Detailed information about of intelligent traffic control sys- Hungary has successfully of some of the applications in Hydrotherapy: Hungary, being the activities of the Hungari- tems. Road, rail and waterway adapted to waste management this area: the country of thermal waters an National Trading House is networks’ mapping. Mapping and practices to meet the stringent River settlement: River set- has significant expertise in the available at www.tradehouse.hu

. 10 | Hungary - Leaps in growth Sunday 4 December 2016 Bridges of cooperation and development The Hungarian National Trading House, is building bridges for cooperation between Greek and Hungarian enterprises.

owadays, the Hun- opportunities for entering in- successful exports. garian National ternational markets and achiev- We draw up export develop- Trading House has ing success in exports. ment proposals tailored to our an active presence partners’ needs, which include in Greece through What specific means do you the relevant target markets, and NALX Hellas, in order to support have at your disposal to sup- the means and services adapted the entry of Hungarian enter- port the success of Hungarian to the preferences and capabil- prises in the Greek market, and enterprises on foreign mar- ities of the given enterprise. So to strengthen economic ties be- kets? we can provide support to all tween the two countries. Ms During our roughly four years enterprises that serve Hungar- Zsanett Oláh, CEO of the Hun- of operation, we set up 60 com- ian interests, whether it is the garian National Trading House, mercial representative offices supply of market information, informs us and analyzes the ac- on four continents, including concrete business opportuni- tivities of the organization in remote regions, such as East- ties, search for business part- reference to the possibilities of ern Asia and Latin America. Our ners, transaction management, cooperation between Greek and trading houses operating in the logistics consulting, participa- Hungarian enterprises. target countries possess accu- tion in exhibitions, or training. rate information on the given What is the function of the country’s or region’s market Do you only support the in- Hungarian National Trading trends, business culture, ex- ternational market entry of House? port and import regulations, Hungarian companies, or are The Hungarian National Trading and on the Hungarian products, your services also available to House (MNKH), established by services and technologies that foreign businesses? the Ministry of Foreign Affairs may be competitive there. With I believe that long term, sta- Mrs Zsanett Olah, CEO of the Hungarian and Trade and the Hungarian this information we can pro- ble and balanced economic National Trading House (MNKH). Chamber of Commerce and In- vide effective assistance to all relations are possible only on dustry as a state export devel- enterprises planning to export. the basis of mutually beneficial trade. In the coming period our What are the short and long opment institution, has the task In addition to having a com- commercial cooperation. Based task is to boost bilateral eco- term objectives in Greek-Hun- of strengthening the exporting petitive product or service, on this premise, our commercial nomic and commercial relations garian relations? ability of economic operators international success also re- representative offices operating within this favourable environ- Our representative office was that serve Hungarian interests quires appropriate domestic in the target countries not only ment. The Budapest headquar- opened only a few months ago and to contribute to the increase references, capital, an extensive open up opportunities to Hun- ters and Athens office of the in Greece. In the coming months of Hungarian export volumes network of relations, wide rang- garian companies in our part- MNKH can contribute to this we will continue to identify the in accordance with the foreign ing know-how in management ner countries, but also provide effort. potential areas of cooperation, trade strategy of the Govern- and foreign trade, and an in- support to companies showing and plan to organise as many ment of Hungary. depth knowledge of the target interest in Hungary. In your opinion, which sec- joint professional events, busi- But allow me to place our ac- markets. The Trading House maintains tors offer business opportuni- ness forums and B2B meetings tivity into a wider context. In In the course of my profes- ties to approximately 4,000 ties to companies in the two as possible to support the real- the heart of Europe, Hungary sional work, I observed that competitive and reliable Hun- countries? isation of concrete transactions is proud of its one thousand each enterprise has particular garian enterprises, which are I think that Hungarian-Greek between Greek and Hungarian year old traditions, its unique strengths. Some companies ready to export their achieve- economic relations can enter a companies. geographical characteristics have extensive relations, while ments in research and devel- new phase through close coop- Obviously, our long term goal and a highly skilled workforce opment, and in technology. To eration in the food industry and is to support the appearance in several sectors. Hungarian advance the development of in the agricultural by-product of many Hungarian companies enterprises therefore produce The forging cooperation, we support for- segment, in infocommunica- on the Greek market, which high quality products, provide of long-term, eign businesses interested in tions, and in the field of Smart provide products and services services with a high added val- stable and Hungarian products, services City solutions. with a high added value, and to ue, and offer modern, globally and technologies with market Owing to a favourable climate contribute to the strengthening competitive technologies. In- balanced information, the search for and to the high standard of ap- of Greek-Hungarian economic novation and know-how are economic relations business partners, concrete plied technologies, Hungary is relations within the framework the most important exports of is possible only business opportunities, and the ranked among the leading glob- of implemented joint projects. Hungary today. organisation of B2B meetings al agricultural sectors. We can We are confident that the In the potential sectors of on the basis of and business forums. offer products of outstanding competitive products of Hun- Hungarian-Greek economic a mutually quality, competitive technolo- garian companies can contrib- relations, such as agriculture beneficial I believe you also have a rep- gies, and agricultural IT and ute to the further economic and and the food industry, infocom- cooperation resentative office in Greece. manufacturing solutions with social development of Greece. munications, or the Smart City What role does the local repre- a high added value to Greece. In this spirit, the Hungarian concept, Hungarian companies sentative office play in boost- To support the successful im- National Trading House will offer products of outstanding others possess the know-how ing bilateral relations? plementation of larger invest- continue to play an active pro- quality and innovative, globally necessary for exporting, but Our commercial represent- ments, we can offer complex, fessional role. competitive solutions, which they often lack comprehensive ative office in Athens carries multi-sectoral and integrated also represent substantial val- knowledge that covers all the out active professional tasks to Smart City solutions to Greece. ue for Greece and Greek busi- areas involved. As partners of ensure that opportunities exist Owing to our several thousand Ms Zsanett Oláh, has studied economics nesses. the Trading House, Hungarian for deepening commercial co- partner companies, we can not at the Corvinus University in Budapest. So, within the framework of companies can receive targeted, operation between Greek and only offer competitive solutions She began her career in the private our export promotion activity, customised, complex services Hungarian companies. for projects within a specific sector. She was CEO of Agro Tech we aim to develop the abilities of high added value, which are We have been pleased to ob- sector, but also provide con- Food Plc. She is currently CEO of the of enterprises in producing and necessary for their develop- serve that the Greek economic struction, water management, Hungarian National Trading House providing innovative, interna- ment. We are capable of pro- has been recently recovering, electronics services and tech- (MNKH) and board member in the tionally competitive products viding them all information and resulting in a favourable devel- nologies in relation to a Smart Union of Young Entrepreneurs of and services, and to offer them means necessary for conducting opment in our bilateral foreign City project, for example. Hungary. Sunday 4 December 2016 Hungary - Leaps in growth | 11 Building partnerships Through a comprehensive range of consulting services, ALX Hellas contributes in devel- oping inter-enterprise and investment relations between Greek and Hungarian compa- nies, representing in our country the Hungarian National Trading House.

LX Hellas is a pro- vider of integrated consulting services to companies, rep- resenting in our Acountry the Hungarian Na- tional Trading House (MNKH), the national organization that promotes innovative Hungarian companies abroad. Its members are Hungarian companies offer- ing high-quality products and services to a variety of highly competitive industries. Addi- tionally, ALX Hellas assumes, evaluates and promotes in- vestment opportunities across a range of fields of interest. Examples include areas such as real estate, tourism, rural & agricultural development, international trade, industry, new technologies, health ser- vices etc. ALX Hellas supports companies in tracing new paths for development through se- cure partnerships and diverse investment activities.

Utilizing knowledge and access ALX Hellas services, aim to contribute to the development of inter-enterprise and invest- ment relations of Greek compa- nies with companies abroad. At a time when effectiveness and openness are critical to the de- velopment of business coopera- tion in the wider European area, ALX Hellas is a valuable partner that supports the exploration of innovative and competitive View of the area and office building of ALX in Budapest. solutions for businesses. For this purpose, it utilizes the stra- partners and benefits from the interest. partners, provides consulting • Information and Communica- tegic sectors of the Hungarian economic characteristics of dif- Integrated management of support services for corporate tions Technology (ICT) economy, supporting the bilat- ferent markets. business processes: ALX Hellas and private projects (acquisi- • “Smart City” Applications eral trade in goods and services, can handle all phases of design- tions, joint ventures, financing, • Water management investment activities and the ALX Hellas services ing and implementing business management of investment pro- • Waste management etc. exchange of expertise between Partner-Affiliate Search: Tak- processes. jects, feasibility proposals and the two countries. ing advantage of the access to Counseling on the institu- investment opportunities, etc.) ALX Hellas has defined its updated knowledge banks with tional framework: Having a in critical areas of concern such mission, in offering multifac- information on thousands of detailed knowledge of the in- as real estate, tourism, rural More information about eted assistance to companies Hungarian enterprises, the com- stitutional framework govern- development, industry, etc., in the company and Hungary interested in investing in the pany can recommend potential ing trade procedures, both at Hungary, Greece and the wider in general, can be found development of their expansion, business partners or associates international and European region. by visiting www.alx.com. enhancing their market com- in various product and service Community level, ALX Hellas gr, by sending an e-mail petitiveness. Its main priority areas. protects their partners from any Focusing on sectors to [email protected] or by are companies that are ready to Targeted meetings for entre- obstacles and helps in exploring with competitive advantages calling (210) 72.20.150-1 . do business with their products preneurs: Implementation of favorable conditions for growth. Some of the key areas of inter- and services across national direct contact between Greek Investment, planning and est for which ALX Hellas has boundaries. and Hungarian companies, with development consulting: In- organized databases of consult- In this direction, emphasis targeted actions such as: meet- vestment is a benchmark for ing services are the following: QR Code is given on strengthening bi- ings and conferences, exchange enhancing competitiveness, • Agricultural Products & Tech- Scan lateral trade and investment of business visits, participation growth and business expansion. nologies for further activities in order to achieve in exhibitions or conferences ALX Hellas, by utilizing the ex- • Food & Beverage information strong business ties between and other actions of business pertise and experience of its • Health sector 12 | Hungary - Leaps in growth Sunday 4 December 2016 The crucial role of education in development It is obvious that education is one of the most basic indicators of the status of a country. It is therefore expected that Hungary’s development is now also reflected in education.

t is commonly said that with other European universi- through its educational ties, which gave great vitality to system, a country has the Hungarian educational sys- the opportunity to up- tem. After the First World War, grade the living stand- which signaled the dissolution ardsI of its population and de- of the Austro-Hungarian Empire velop. It has the opportunity and the diminution of the Hun- through infrastructure and ex- garian border, actions had to be perience available in this area, taken for known universities to support even people from like Kolozsvár and Pozsony to be other countries. The people who rescued from decay. Thus, the will be educated, will receive first one was moved to Szeged appropriate foundation to be and the latter in Pécs. Later, able to easily understand the after the Second World War, logic and culture of Hungary. the country’s participation in So, it becomes easier to bring the Eastern block, dictated the countries that cooperate and establishment of new Univer- participate jointly in institu- sities such as the University of tions and actions such as the Economics (1948), the Univer- European Union, together. This sity of Heavy Industry and the cultural substantive approach Technical University of Miskolc between Hungary and Greece, (1949), the University of Trans- is evident on many levels. port of Szolnok (1951) etc.

The glamorous past and the Internationally socialist transformation prestigious Universities Hungary offers modern higher education programs, harmonized with EU directives for each, Hungary has a long history in To date, Hungary is one of undergraduate, postgraduate and doctoral level students of any nationality. education. The Pécs University, the popular destinations for founded in 1367, has a strong students who trust the histor- ditions for students wishing to institutions, 19 are state uni- MA / MSc, PhD / DLA). Under tradition in legal and medical ical universities of the country. study in Hungary. It should be versities, 9 are state colleges, the multi-course system, the studies. Similar traditions are This is the best advertising and particularly noted that in ad- 7 are non-state universities and BA / BSc programs, lead to the represented by a number of promotion of the real growth dition to affordable financial 31 non-state colleges. The com- first degree diploma. other universities founded in perception prevailing in Hun- data offered by English - foreign plete list of higher education Then MA / MSc programs fol- the 15th and 16th century in gary. The diplomas awarded language speaking Hungarian institutions that are accredited low, Master level, which require the country. The first univer- by the Hungarian universities universities, foreign language by the Hungarian Accreditation a first degree as an entry crite- sity was founded in Budapest, are appreciated and have a high speaking programs are sup- Committee, are available on the rion. There are some fields of in 1777. The golden era of the reputation worldwide. Corre- ported in some of which the portal of the Campus of Hunga- higher education (eg, law and Austro-Hungarian Empire be- spondingly, foreign language attendance cost is essentially ry. All Hungarian universities medical sciences) where long- tween 1848 and 1920, offered courses are of high quality with zero after excluding accommo- are situated either in the capital term programs have remained significant achievements in the very affordable tuition fees, dation costs, which in its turn or in traditional university cit- as a typical form of study with educational, scientific and cul- compared with other interna- is highly competitive in com- ies, in each of which one finds 10-12 semesters leading to tural life of the Hungarian na- tional study destinations. All parison to similar universities busy, international and lively, the first degree, but which is tion. In the same period, there this, combined with the low in other European countries. multicultural student life. This equivalent to a MA / MSc de- were significant interactions cost of living create ideal con- In total of 66 higher education highlights Hungary as a great gree level. destination for higher educa- All BA and MA degrees guar- tion students. According to the antee entry to the job market. common principles of Europe- Beyond the complete degree an higher education, Hungary programs, higher education introduced three courses in its institutions offer shorter pro- educational structure in 2006: grams as well, such as summer undergraduate, postgraduate schools at universities and par- and doctoral studies (BA / BSc, tial education. Main courses of study Some of the most popular fields of study in Hungary are in the following areas: • Agriculture, Natural re- • Humanities, Education, sources Behavioral Sciences • Technology, Engineering, • IT, Computer Sciences, Architecture Mathematics • Business, management and • Law, Social Sciences Public Administration • Arts (visual and perform- • Medicine and Health ing) Study programs are of high quality with very favorable and affordable tuition fees compared to other international destinations. Sciences • Tourism Sunday 4 December 2016 Hungary - Leaps in growth | 13 The culinary culture of Hungary With influences from central Europe and flavors arising from the past, Hungarians offer culinary specialties, which are very close to the Greek culinary taste.

ith influences from central Eu- rope and flavors arising from the past, Hungarians offerW culinary peculiarities, which are very close to the Greek culi- nary taste.

Historical flashback to the flavors The Hungarian nomadic past is reflected in the emergence of the meat (mainly poultry, pork and beef) as the main ingredient of Hungarian cuisine. In the 15th century King Matthias, introduced new materials and spices, such as garlic and onions - components that are up to date a key piece in Hungarian cuisine. Later, a large number of Saxons, Armenians, Italians, Jews and Serbs settled in the Hungarian lands, bringing with them their own recipes. Elements of Turkish cuisine were adopted during the Ottoman era, either in the form of sweet or savory, such as eggplant, stuffed peppers and cabbage. Later, in the era of the Austro-Hungarian Empire, the Hungarian cuisine suffered influ- ences, with recipes and methods from the Austrian cuisine, which in turn it also affected.

Traditional and modern gastronomy Hungarian cuisine nowadays has a large variety of intense flavors and ensures its guests a Traditional kürtoskalacs fill the Christmas atmosphere, being one of the most popular desserts of the holidays. great culinary adventure. Most recipes are cooked over an open rieties. Another traditional dish del, cook and confectioner, is one is under constant development and las which, as a representative of fire, like Goulash, which has is lecso, a dish from the Balkans, of the most favorite desserts of this inevitably leads to investors the Hungarian National Trading remained known as one of the made of tomatoes, paprika and the country. Hungary is an im- interested to exploring all areas House is essentially a mediator traditional dishes of the country, onions. The ingredients of Hun- portant wine-producing country, that could be exploited. The ar- and informative link for trade co- the pörkölt (stew) or the soup of garian kitchen vary in terms of with creations that include special ea of catering and gastronomy in operation prospects and invest- the fisherman. Goulash ıs indeed flavors, and the large number of flavors. On the Hungarian plains, general is very important both for ments between the two countries. created with different variations them can be used versatilely in viticulture has a long tradition, Hungary and for Greece. Interested entrepreneurs have of the original recipe beıng rich in all levels of culinary creations, almost three thousand years. In The culture of the two peoples the opportunity to learn more ingredients and aromatic spices, from simple home cooking to the the region of Tokaj, the famous is very close and it can be tak- about the Hungarian food sec- made from the meat of the famous gastronomic canvas of a chef. wine produced in recent years en as basis for new investment tor, gastronomy and cooperation Hungarian cattle grey breed. Hun- The Hungarian recipes, finally, has been highly successful in in- prospects both in Greece with new perspectives, in exhibitions that gary produces some of the highest can be considered a melting pot ternational oenological contests. flavors and product imports, in take place in Greece through ALX quality vegetables like the famous of Central Europe with Magyar The Hungarian wines have fa- and Hungary since the Hungari- Hellas often participates in them. hot or sweet paprika, tomato, on- signature! Sweet flavors are not mous lovers through time, like ans have positively inclined to the ion, green pepper, corn and garlic. missing from Hungarian cuisine. Louis XIV, Peter the Great, Cath- Greek dishes, either via the large The upcoming international Hungarian sausages are also pop- The famous Dobos cake was given erine the Great and Frederick II Greek community, or because of exhibition “Food Expo Greece”, ular and so is the famous Hungar- its name in 1884 by confection- and Voltaire, Goethe and Schu- Greek students studying at univer- which will be held between 18- ian salami which often are part of er József C. Dobos: thin layers of bert, all drank Hungarian wine sities, or because of the considera- 20 of March 2017 in Athens, is the country’s souvenir. Near the cake, butter cream with vanilla for inspiration and to set a good ble number of Hungarian tourists an excellent opportunity of ac- lakes, the recipes usually include and cocoa, and a glaze of cara- mood. who visit Greece every year. quaintance with the Hungari- fish in several tasty variations. melized sugar covering the top Innovative ideas combined an gastronomic culture at the The Hungarians are soup lovers. of the cake. Investment with similar flavors and culture booth of ALX Hellas, which will The chicken soup is part of theır Another dessert is crepe Gun- opportunities presented in general, for both countries, are showcase significant Hungarian lunch and ıs offered in many va- del. This creation of Károly Gun- Hungary is an EU country which promoted in Greece by ALX Hel- products. 14 | Hungary - Leaps in growth Sunday 4 December 2016 Tourism: a significant growth capital for Hungary Hungary according to the report of the World Tourism Organization is the European destination with the largest increase in tourism in 2015.

The Buda Castle, built in 1265, now houses the Budapest History Museum and the National Gallery of Hungary. Benchmarks for the identity of Hungary.

ungarian economy with the fastest pace in tourism erage! In 2015, 11 million vis- such as, for example, medicinal ing and financial resources of grows multidimen- development among the Europe- its were recorded in the nine tourism, and tourism support the European Union. sionally, utilizing an countries for the year 2015, months between January and modernization factors such as Hungary remains an afforda- all the areas that for which there are yearly data. September. Guests at the same competitive prices in airline ble and exciting destination to can contribute to Notably, the first three quarters time, spent € 302.8 million, tickets and generally mod- visit. New investments increase Hthe overall GDP. The country’s of 2015, there was an increase an amount increased by 15.2% ern practices that are gaining and improve accommodation tourism is one of the most im- of 19.1% in the number of tour- compared to the corresponding ground worldwide. and incentives are given to portant growth sectors, con- ists visiting the country. period of 2014. support business tourism, with tributing constructively to its By comparison, the corre- The numbers show the sub- Benchmarks of tourism examples of exhibition and con- economic growth, while more sponding increase was 5.1% stantial progress both in incom- development gress tourism. Individual en- and more Hungarian citizens for Europe as a total, so we ing and outgoing tourism. To However the most fundamen- trepreneurs and companies ex- have the opportunity to visit conclude that the development this effect, an important role tal driver for tourism develop- ploit the tourism development other tourist destinations like of tourism in Hungary for the among other things, has been ment appears to be the state programs -which are financed Greece. Official numbers show period was almost four times played by the development of itself. Tourism development is mainly by funds of the EU- to that Hungary was the country higher than the European av- innovative forms of tourism encouraged by the State, build- improve the existing infrastruc-

Benchmarks for the identity of Hungary l The river Danube is the «most in- most attractive and energy-ef- the subway, which is the first Moreover, the production of min- of the Huns. ternational» river of the world, as ficient lighting cities. This is an underground in Europe. eral water in Hungary is around l Participation in education on it flows in 10 countries, including impressive set, combined with a 385 million liters. the total population range of four capitals (Vienna, Bratislava, part of Budapest which has been l Although in many cities the vis- 99%. The country’s policy on Budapest, Belgrade). Among its declared a UNESCO World Herit- itor will wonder about the quality l The Hungarian language, known educational assistance, since bridges, the Liberty bridge in Bu- age Site. of drinking water, Budapest com- as Magyar, does not belong to the Hungary spends about 5% of dapest, won the 2010 Auroralia pared to other European cities, has Indo-European languages and is a GDP to education, played an Prize, awarded annually for the l A city tour can be done with one of the best and cleaner waters. direct descendant of the language important role in this. Sunday 4 December 2016 Hungary - Leaps in growth | 15

ture that will lead to the provi- ist activities. Spa tourism is a sion of even more modern and remarkable form of alternative more complete services. tourism, in a country that has Along with the improve- over 1300 declared thermal Budapest at a glance ment of hotel infrastructure springs and 150 spas in the ter- and other accommodation, the ritory, renowned and popular The capital of Hungary is one of the most beautiful and popular global trend of private rental since ancient times. Thus, not a housing for short periods, has few are the tourists who make destinations in Europe. A lively city and a live advertisement for strengthened the offer of ac- visits focusing on spas, either commodation with more than for recreational or therapeutic the Hungarian tourism. 8,000 apartments. purposes. This has turned the districts of downtown Budapest in a An important role very lively tourist destination, of culture in the country especially during the summer The Hungarian people, have peak season. It is certainly un- a great historical presence and derstandable that improving important past. The remains of infrastructure does not lead it- the glorious times of the Aus- self to development, if there is tro-Hungarian Empire and old no substantive reference point, historical monuments, an im- namely the fact that Hungary portant attraction for visitors in has a really large number of order to experience the history attractions and recreational and culture of the country. But sites. The country has numerous even some more modern forms attractions, classified as world of culture have important things heritage by UNESCO. to show in Hungary. These are what have made The music tradition ranging Hungary as one of the most from folk music to classical and popular tourist destinations in modern jazz. The movie indus- Europe, its capital of Budapest, try, having a large audience, is considered as one of the most which monitors the works of The Hungarian parliament, an impressive 110-year structure, is the third largest parliamentary beautiful cities in Europe. Be- Hungarian artists at numerous building in the world. sides Hungary is a country that festivals of Hungarian cinema udapest is the capital of ers working in Budapest is ment, the opera, the Basilica offers multifarious attractions in the world. Theatrical perfor- Hungary and the main even higher. The city spans of Szent István and the Buda throughout its geographical ar- mances and of course classical B cultural, commercial, in- along the banks of the Dan- Castle. ea. This great variety, support- music, ballet and modern dance, dustrial and transport center of ube, which divides the city Aside from these, there are ed by geological peculiarities, are very popular art forms in the country. With nearly two into two parts: the Buddha, still more than 200 museums, has resulted in the development Hungary. million inhabitants, it is the which is dominated by hills 40 theaters, year-long festi- of several alternative forms of Typical examples are the largest and the most populous and slopes and the flat Pest. vals, thermal springs and spas. tourism. One good example is Győri Balett and Pécsi Balett, city in the country. One in five Budapest is a diverse city, with All these elements make up a the impressive Lake Balaton combining orchestral art and Hungarian citizens is living signs of various historical eras capital with a lively character which is the largest freshwater cultural heritage of the country. in Budapest and over half of from the Middle Ages and the and one of the most popular lake in Central Europe. This followed by a low ticket GDP is produced there. Half of Turkish influence, to the era touristic destinations in Eu- Its existence has led to an price policy for museums, art the students of the Hungarian of Baroque and the glorious rope. Budapest is the spear- overall development of the re- galleries and other attractions, universities are studying in era of Austria-Hungary in the head of the Hungarian tourist gion. Additionally great sensi- are very attractive for adver- the capital and the majority 19th and 20th century. The industry throughout the year, tivity is demonstrated towards tising, and a “culture school” of teachers are also based in capital city is rich in historical with a significant contribution the environment, which is not for the guests, while assisting Budapest. monuments and architectural to many areas of the economy disturbed from the number of in the support of the country’s The proportion of research- treasures, such as the parlia- and business. hotels or from the various tour- culture.

Lake Balaton, with a length of 77 km, is the largest lake in central Europe.

.