91果冻传媒

For Arizona businesses looking to expand their operations to Europe, there are plenty of options on the table. But Dr. L谩szl贸 Szab贸, Hungarian Ambassador to the United States, wants Hungary to be at the top of companies鈥� lists鈥攕o much so that the country is expanding its presence in Arizona and the United States in key ways.

鈥淲e are great at inventing things, but making money on them is an American thing,鈥� Dr. Szab贸 said. 鈥淪o that’s why I believe we have a lot to do here, and that’s why we are looking for partners.”

During a recent visit to Arizona, Dr. Szab贸 met with a group of business leaders at the Global 91果冻传媒 to discuss why more American companies should have their eye on Hungary. He claimed potential benefits include everything from low corporate taxes to a wide range of financial incentives.

鈥淭he corporate tax is very low, nine percent,鈥� Dr. Szab贸 said. 鈥淏ut even from that nine percent, you can get an 80 percent release if you concentrate your investment on research and development.”

Dr. Szab贸 said Hungary鈥檚 focus is on attracting businesses that will add to the value of Hungary鈥檚 economy, rather than those that will create a large amount of new jobs that need to be filled. This is because Hungary鈥檚 national unemployment rate is roughly 3.5 percent, down from nearly twelve percent only eight years ago, so there isn鈥檛 much of a need for labor opportunities. But companies looking to make large capital investments in the country may be eligible for a wide range of incentives, including reimbursements to help cover staff training costs.

鈥淭he higher value-adding activities you have, the more R&D subsidies you can find,” he said.

Another potential benefit for American companies is Hungary鈥檚 location. Despite being a relatively small country鈥攔oughly the size of Indiana, and home to about ten million people鈥� Dr. Szab贸 said the country鈥檚 infrastructure and central European location makes it a great option for accessing Europe鈥檚 nearly 550 million-person market.

鈥淲ithin fifteen, sixteen hours, you can reach with a truck almost any corner of Europe,鈥� he said. 鈥淪o it鈥檚 pretty easy to export goods from Hungary.鈥�

Other potential benefits to companies include what Dr. Szab贸 described as a 鈥渉ighly-educated鈥� workforce鈥攅veryone who earns a degree in the country is required to learn multiple languages, he mentioned.

Some Arizona businesses may still be wondering where exactly they might fit within Hungary鈥檚 business climate. But Dr. Szab贸 said there鈥檚 a decent amount of overlap in terms of industries that are developing in both regions, including the aerospace, autonomous vehicles and water technology industries, to name a few.

鈥淟ooking at the profile of the opportunities here in Arizona, we believe we have a lot to talk about,鈥� he said.

Additionally, in order to increase the viability of partnerships between the United States and Hungary, Hungary is increasing its presence in the United States in some big ways.

First, Hungary is appointing a brand new Honorary Consul in Arizona to act as an initial point of contact between Arizona businesses and Hungary. This person, Dr. Szab贸 says, will be an American citizen who was born in Hungary, and will 鈥渂e able to represent Hungary in a semi-official way.鈥� Not only will this person be able to provide information to Arizona businesses considering a move to Hungary, but also provide opportunities for Hungarians to partner with Arizona businesses.

Additionally, Hungary is building out a new facility in Washington D.C. designed to house Hungarian startups that are looking to partner with American companies. The facility, called the Business Promotion and Development Campus, will initially house four Hungarian startups when it opens sometime later this year.

Doug Bruhnke, CEO & Founder of the Global 91果冻传媒, which hosted Dr. Szab贸鈥檚 Arizona visit, said he thinks there are strong reasons why Arizona businesses should consider Hungary.

鈥淭he taxes, the regulatory environment, the innovation aspects–any company that’s innovating should really be thinking about Hungary,” Bruhnke said.