The Hungarian Investment Promotion (HIPA) was established by the Government to promote the international business activities of Hungarian small and medium-sized enterprises and to encourage foreign businesses to invest in Hungary. The activities of the Agency are controlled by the Ministry of Foreign Affairs and Trade via the Minister of State for Economic Diplomacy.
The agency performs its objectives and tasks by organising events (collective presence on specialised exhibitions, business meetings, trainings, among others), offering personal and tailored consultations, and publishing various documents.
HIPA’s activities involve extensive domestic and international cooperation with various ministries, professional associations, and professional chambers. Job creation is a distinguished priority for its investment promotion activities.
The Agency participates in the preparation of background studies and analyses necessary for the development of middle and long term foreign trade strategies. It also develops the company, supplier, industrial park, and other data base modules for business development and investment promotion purposes, and maintains the various databases.
HIPA also coordinates a network of diplomats specializing in foreign trade operating at 63 representations in 50 countries, and cooperates with various contracted partners.
Promotion of investment
Foreign direct investment (FDI) has been transforming Hungarian economy gradually since 1990, primarily resulting in the introduction of advanced technologies and increased added value from innovation.
HIPA is the information and consultation centre for enterprises established in or wishing to move to Hungary.HIPA aims to strengthen investor confidence and to promote investments, primarily in the economically less developed regions.
It also provides information and organizes various programmes in order to promote foreign direct investment in Hungary. The Agency looks for potential foreign investors, provides assistance in the investment related decision-making process, and encourages their intent to re-invest in Hungary.
The Hungarian Investment Promotion Agency offers the following services to promote investments:
- information on the Hungarian investment, legal, taxation, and financial environment
- one-stop system for the simple and clear information for foreign citizens (accelerating the various decision-making processes)
- identification of Hungarian suppliers for foreign companies coming to Hungary
- information on the investment incentive programmes of the government
- preparation of local governments for receiving investors
- management of the decision-making processes concerning brown and green field investments, and joint venture investments
- advice on selecting branch office locations, and recommendations for investment locations.
Hungarian Investment Promotion Agency offers small and medium sized enterprises means and methods to implement their business plans (export sales, capital allocation to acquire markets, among others).
In line with the previously successful export development practices, the Agency handles the various corporate needs by sectors, in order to maximize the results of the export efforts of Hungarian SMEs.
The Agency organizes company surveys and visits for two purposes:
- to acquire information on the suitability of the product base to be exported, and on the various innovative technologies and services;
- to establish personal relations and to give advise on business development.
In short, the Hungarian Investment Promotion Agency offers the following business development services
- continuous information provision on support trends, and information for Hungarian SMEs (at both EU and national level)
- participation opportunity at foreign exhibitions at the exhibition boots furnished by the Agency
- identification of targeted export opportunities and potential foreign partners for Hungarian undertakings
- advise on foreign trade related technical, customs, legal, taxation affairs, and other state grant related matters
- participation in the business meetings organised by the Agency
- World Bank tender monitoring service
- preparations for specific business meetings and organisation of specific professional forums abroad
- advise on capital placement and information provision
- Enterprise Europe Network
The Enterprise Europe Network – the sole business development network of the European Commission – was established in 2008 and is now operational in some 600 institutions of 51 countries.
Using the resources at its disposal, the Network helps to find potential business partners in the EU and in other locations worldwide. The project aims to help small and medium sized enterprises (SMEs) to enter foreign trade markets, expand their international business relations, facilitate the use of innovative technologies, and to involve SMEs in the research and development projects of the EU. In Hungary, the Enterprise Europe Network consortium has been lead by HIPA since 1 January 2011.
Foreign and Hungarian network
In addition to its investment promotion and business development activities, the Hungarian Investment Promotion Agency coordinates two territorial networks, a network of diplomats specializing in foreign trade, and a regional network of agencies covering the entire territory of Hungary.
Members of the network of diplomats specializing in foreign trade support Hungarian undertakings in entering foreign markets in any given relation. By means of trade diplomacy, they represent the interests of Hungarian businesses, and facilitate the export market entry of Hungarian goods and services.
The regional network of offices ensures national coverage for the Agency. The regional network – consisting of six regional offices and nine foreign trade information points – is responsible for the client centred representation of the Agency at local levels, for surveying local corporate needs, and for providing advise and information.
In addition to the national regional network, the Hungarian Investment Promotion Agency – in line with the economy development concept (Wekerle Plan) developed by the Ministry for National Economy – is also setting up a network of business development offices in neighbouring countries.
Staff members of the Agency, our regional colleagues, and our specialized foreign trade diplomats are always at your disposal. Interested parties are encouraged to contact the customer service of the Agency, or consult its website available in ten languages.