HIPA named region’s best investment promotion agency for the 3rd time in a row
In its survey “Global Best to Invest 2019”, Site Selection Magazine listed Hungary among the top 10 investment locations of the world once again. Besides this achievement and following last years’ successes, Hungarian Investment Promotion Agency (HIPA) has been recognized as the Top Investment Promotion Agency in the Eastern Europe & Central Asia region, now for the third time in a row.
Site Selection is the professional magazine of the US based capital investment consultancy firm, Conway. It is among the most popular magazines on investment, investment site selection and economic development in the US. The readers of the magazine, that has been published under the same title since the 1950s, contribute to investments worth USD 12 billion on average each month.
The Global Best To Invest survey is published every May and it is based on the Conway database of foreign investments. It also takes into consideration various international competitiveness rankings. Investment projects included in the survey must involve a working capital investment of at least USD 1 million, create at least 20 jobs or require 1,000 square meters of newly developed real estate space.
In the category examining the best investment promotion agencies, HIPA secured its position as the Best National IPA in Eastern Europe & Central Asia for the third time, following the successes of 2018 and 2019. Some of the decisive factors, mentioned by the issue, where professional responsivity to inquiries, availability of the necessary information and timing, reputation for protecting investor confidentiality and quality of aftercare services.
Hungary also remained a top location for FDI investors even on a global level, being the 9th among the top countries by jobs per capita, which is the 2nd best in Eastern Europe. In regional comparison, Hungary ranked 2nd on the “Overall best to invest” comparison, while being the 3rd on the “Best to invest per capita” ranking.
Topping all previous records, the volume of investments successfully negotiated by the Hungarian Investment Promotion Agency (HIPA) amounted to EUR 5,350 million in 2019, exceeding the previous year’s amount by 24%. As a result of the 101 projects realized based on the positive decision of investors, 13,493 new workplaces are to be created in Hungary. By analysing the results of the previous year, the most important trends are the surge of investments from Asian countries, the strengthening of the electromobility sector, as well as the increasing number of high value-added projects in the services industry. Furthermore, the competitiveness of the Hungarian investment environment is well illustrated by the fact that the 101 investments can be linked to 21 different countries and take place in 20 different sectors.