The May 13 business forum hosted by the American Chamber of Commerce in Hungary at the Budapest Marriott Hotel featured István Joó, CEO of HIPA, Government Commissioner for the Implementation of Large Foreign Direct Investments, who shared insights into Hungary’s investment promotion strategy and trends that are bound to impact the local business landscape.
Joó reflected on the close cooperation between the two organizations, highlighting the importance of the annual Business Meets Government Summit designed to discuss current challenges and solutions and compile proposals to improve Hungary’s competitiveness.
Additionally, Mr. Joó provided insights into the current state of the investment landscape. He added that HIPA is determined to keep the dialogue going, and to foster further economic growth by providing an attractive tax and investment environment, which also incentivizes the creation of higher value-added jobs.
As a long-term advocate for an attractive tax and investment climate and a shift to a higher value-added economy, the chamber welcomed Hipa’s approach. During the meetings, AmCham focused on the critical points of its new Recommendations Package, including strategies to avoid the middle-income trap, the overarching goal of the recommendations.The two parties consulted on potential government support for promoting employees to higher positions or retraining them to support higher value-added jobs. They also touched upon the law on the general rules for third-country nationals to enter and stay in the country, which the chamber believes is one way to fulfill labor needs in sectors lacking a skilled workforce.
AmCham thanked Hipa for its continuous and longstanding support in maintaining an open and productive dialogue with the business community and expressed its commitment to further cooperation to promote competitiveness adding that the 10th Business Meets Government Summit this October, is expected to provide an optimal platform for this.
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