Investments in Europe
Hungary is located in the center of Europe, at an extremely important geographic location. Joining the EU in 2004 meant integrating into a market with the population of 520 million. The GDP per capita in Hungary was 15,300 USD in 2008, ranking as a medium developed country. Labor, capital, products and services can flow freely within the EU, providing easy reach for foreign companies settled in Hungary to the whole of the surrounding EU market. At present Hungary has nearly 5,000 Chinese firms and trading companies mostly in the textiles, clothing, shoes, hats and bags business, plus hundreds of Chinese buffets and restaurants.
Hisense, the world’s seventh-
With the entry of these large enterprises Chinese-
Hungarian Ambassador Sándor Kusai said: “The biggest advantage for Chinese enterprises investing in Hungary is that through Hungary they can get to the entire European market, they can find customers for their products and they can shorten the time of business dealings.”
Just one more example of the many just for how correctly Ambassador Kusai sees the situation:
The China Green Biodegradable Products Co., Ltd. invested nearly 18 million Euros in Hungary between 2007 and 2009. Their projects in the region created more than 800 jobs; their annual output is about 50,000 tons, their products reaching the whole European market.