LASZLO TOTH

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(No Transcript)
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HUNGARY
LASZLO TOTH TRADE AND INVESTMENT OFFICER BRITISH
EMBASSY, BUDAPEST
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HUNGARY AT A GLANCE - I.

GLOOMY SUNDAY
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HUNGARY AT A GLANCE - II.
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HUNGARY AT A GLANCE - III.
POPULATION 10 million SIZE 36,340 square
miles (1/3rd of UK) GDP 138.4bn - 13,762 per
capita (2007) INFLATION 6.5 (August
2008) UNEMPLOYMENT 7.5 (May/June 2008) EU
MEMBER 2004 AVERAGE GROSS WAGE HUF 196,400/month
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SLOVAKIA AT A GLANCE - I.
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SLOVAKIA AT A GLANCE - II.
POPULATION 5.4 million SIZE 49,034 square km
(1/5th of UK) GDP 10 (2007) INFLATION 4.4 (July
2008) UNEMPLOYMENT 10.3 (July 2008) EU MEMBER
2004 AVERAGE GROSS WAGE 450/month EURO 2009 TAX
RATE 19
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UK-HUNGARIAN RELATIONS

• 7 SHARE IN INVESTMENTS, 850 MILLION IMPORTS
  FROM THE UK IN 2007
• SERVICE SECTOR NICHE PRODUCTS
• SHARED SERVICE CENTRES
• ACTIVE LINKS IN CULTURE, EDUCATION, RD
• A POPULAR DESTINATION FOR TOURISM
• UK - ROLE MODEL FOR THE YOUNGER GENERATION(S)

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HUNGARIAN PERCEPTION OF THE UK

• GOOD QUALITY BUT HIGH PRICES
• CONSIDERED BUSINESS APPROACH BUT SLOW TO REACT
• INNOVATIVE PRODUCTS SOLUTIONS BUT UNWILLING TO
  TAKE INTO ACCOUNT LOCAL MARKET FACTORS/CONDITIONS
• (FAVOURABLE) STEREOTYPES VERY MUCH ALIVE

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WHY HUNGARY? - I

• IDEAL LOCATION
• QUALIFIED LABOUR FORCE - LOWER COSTS
• INFLUX OF EU FUNDS
• UK INVESTORS CONFIDENT HERE FOR THE LONG TERM
• VODAFONE, TESCO, M S, BT, UNILEVER, SHELL, BUT
  ALSO SMALLER COMPANIES
• CLOSER THAN CHINA/INDIA

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WHY HUNGARY? - II

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KEY INDUSTRIES IN HUNGARY
Pie chart
Source National Bank of Hungary
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OPPORTUNITIES IN HUNGARY

• AUTOMOTIVE
• CONSTRUCTION (URBAN REGENERATION, GREEN
  BUILDINGS)
• ELECTRONICS/IT
• RAILWAY
• ENVIRONMENT

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HOW TO DO BUSINESS IN HUNGARY

• COMMITMENT, CONTACTS AND COST AWARENESS
• NO SUBSITTUE FOR A MARKET VISIT
• PERSONAL CONTACT PREFERRED
• FULL SUPPORT IS EXPECTED
• FIND THE RIGHT PARTNER - OFFER NICHE PRODUCTS AND
  QUALITY SERVICES, LEARN LOCAL RULES

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UPCOMING EVENTS

• Okotech
• IFE Foodapest
• Construma
• Utazas
• Securex
• UKTI supported regional events

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British Embassy Budapest
THANK YOU FOR YOUR ATTENTION
Embassy building