Open Business Sectors and Industries in Hungary
Hungary welcomes foreign investment across a wide range of sectors and industries. Some of the key sectors open to foreign investors include:
**Manufacturing** – Hungary has a long tradition of manufacturing and industrial production. Major manufacturing sectors like automotive, electronics, pharmaceuticals, medical devices, and food processing are open to foreign investors. Multinational companies like Audi, GE, and Samsung have manufacturing facilities in Hungary.
**Automotive** – Hungary is a leading automotive manufacturing hub in Central Europe. Major automakers like Audi, Mercedes-Benz and Suzuki have production plants in Hungary. The country also has a strong auto components industry catering to these OEMs.
**IT and Technology** – Hungary offers a skilled technology workforce and good infrastructure for IT investments. Areas like software development, business process outsourcing, data centers, and R&D are attractive for foreign IT investors. Multinationals like IBM, Morgan Stanley, and Ericsson have IT centers in Hungary.
**Shared Services** – Hungary is an established location for shared service centers due to its educated workforce and cost advantages. Many global companies have opened SSCs in Hungary for activities like finance, HR, IT support and customer service.
**Healthcare** – Hungary has a developed healthcare market supported by a strong medical education system. The country is open to healthcare investments in areas like pharmaceuticals, biotechnology, medical devices, hospitals, R&D centers and wellness tourism.
**Renewable Energy** – Hungary aims to shift towards renewable energy and invites foreign participation in wind, solar, geothermal and biofuel projects through public-private partnerships.
With its strategic location, skilled workforce, infrastructure and incentives, Hungary presents diverse options for foreign investors across sectors.
Access to Markets
As a member state of the European Union (EU), Hungary provides foreign investors easy access to the EU single market of over 500 million consumers.
Hungary’s strategic location in Central Europe also provides companies access to major regional markets including Germany, Italy, Austria, the Balkans, and countries of the former Eastern Bloc. Hungary has trade agreements with each of the major European economies as well as the United States, Canada, Mexico, Japan, China, Russia, and Turkey among others.
Goods manufactured in Hungary can be exported tariff-free to the entire EU single market. Similarly, Hungary’s membership in the EU customs union eliminates customs duties for products imported from other EU countries.
Hungary is also a member of the Schengen Area, which allows free movement of goods and people across borders within the Schengen Area without passport controls. This further facilitates trade across the EU.
In addition, Hungary’s developed transport links including roads, rail, water, and air provide easy connectivity throughout Europe and beyond. The country serves as a strategic logistics and distribution hub for major companies looking to access broader European and global markets.
Budapest’s Ferenc Liszt International Airport offers direct connections to 130 destinations across 50 countries. Hungary’s modern highway network provides direct road access to Austria, Slovakia, Ukraine, Romania, Croatia, Serbia and Slovenia.
Overall, Hungary provides an ideal location for foreign investors looking to manufacture products and sell to a large consumer base across Europe and neighboring regions. Access to the EU single market and regional free trade make it an attractive investment destination.