At a business conference in Zurich, Tibor Héjj provided valuable insights and practical hints for companies considering the establishment of new businesses or aiming to increase their profits by relocating their existing production facitilies.
The presentation deals with infrastructure, labor force, grant opportunities, Hungary's current economic and manufacturing landscape and the current situation of Swiss companies in Hungary. The presentation also provides a short step-by-step guide on establishing a business in Hungary.
2. 2
1)Infrastructure
2)Labor force
3)Grant opportunities
4)Current economic and manufacturing landscape
5)Swiss companies in Hungary
6)Investing in Hungary –step-by-step
7)Our references
Agenda
3. 3
Hungary’s central location and road infrastructure enables you to connect to your clients and suppliers cost-effectively
To Helsinki (Finland)
To Moscow (Russia)
Hungary is at the crossroad of four main pan-European road transportation corridors
Neighbouring Central European countries, Poland, Ukraine and the Balkans are all easy to access
Hungary has one of the highest motorway densities in Europe allowing easy access to all regions and industry hubs within the country
Hungary is also a member of the Schengen Area enabling border control-free travel among 26 European countries
GERMANY
THE BALKANS
POLAND
UKRAINE
RUSSIA
ITALY
Sources: HITA Investing Guide 2013.; http://en.wikipedia.org/wiki/Pan- European_corridors
AUSTRIA
4. 4
Hungary is connected to strategic Rail FreightCorridors(RFC) opening access to the main European ports and the East
RFC connection does not only enable quick and cheap transportation to and from the neighbouring countries, but...
Direct connection to the main European ports enables water transportation across the Northern Sea, the Mediterranean Sea and the Atlantic Ocean.
Záhonyis one of the few stations which allow quick change of freight trains when crossing the border between the EU and the Post-Soviet countries (this change is necessary due to the different rail gauge used in the Russian region)
Záhony also connects RFC 6 to the shortest contintental way between China and Europe
Sources: HITA Investing Guide 2013.; Mosóczy (2013.10.09.): Changes in Hungarian Rail Freight Market; European Rail Freight Corridors Conference 2012.
RFC 6
RFC 5
RFC 7
Athens
Marseille
Trieste
Koper
Constanta
Hamburg Bremen
Rotterdam
Gdansk
To / From:
RUSSIA
KAZAKHSTANCHINA
Záhony
The geographical advantages makes Hungary a popular logistics location even for companies which have no direct production facilities in the country.
5. 5
Hungary has excellent waterway connections, including access to the Rhein –Main –Danube canal
Sources: HITA Investing Guide 2013; www.cspd.sk/page6.php
The Canal enables cheap transportation to and from the most industrialized areas of Germany
Goods can be transported to Switzerland and France over the Rhine
The Canal also links Hungary to ports on the North Sea (e.g. Rotterdam) and the Black Sea (e.g. Constanta)
The Rhein –Main –Danube Canal ( www.cspd.sk/page6.php)
6. 6
Hungary can be conveniently reached from Switzerland by car, train and plane
High quality motorways through Germany and Austria
Distance: 1000 km
Avg. travel time: 10 hrs
Daily direct and indirect (via München) rail connection (RailJet and EuroNight)
Avg. travel time: 11 to 12 hrs
Direct flights (non-stop)
Avg. travel time: 1,5 hrs
Source: Google Maps
7. 7
1)Infrastructure
2)Labor force
3)Grant opportunities
4)Current economic and manufacturing landscape
5)Swiss companies in Hungary
6)Investing in Hungary –step-by-step
7)Our references
Agenda
8. 8
▪A well-qualifiedlabor force is available in the country, about two-thirds of the workforce has completed secondary, technical or vocational education
▪Particularly strong fields: engineering, medicine, economics and science training
▪University students regularly receive their practical training at companies-in 2012 more than 50 000 students signed student contracts with companies and acquired practical skills through on-the-job training
▪The renowned Hungarian universities focus on establishing partnerships with international companies in various cooperation agreements (R&D&I, process development, prototyping etc.) and regularly become members of high-tech clusters (such as the IKT Cluster, managed by PMC, having the Budapest University of Technology and Economics and the Hungarian affiliate of Deutsche Telekom among its members)
▪English and German are the most widely spoken foreign languages in Hungary, but knowledge of other Western European and Slavic languages is also common
▪Due to these factors, Hungary is regularly chosen as a location to establish regional Shared Service Centres (SSCs). So far, around 70 companies have established their regional SSCs in Hungary (including Givaudan, IBM, ExxonMobil, GE and Morgan Stanley). These centres employ more than 30 000 people and usually offer a wide range of knowledge intensive services (typically finance, accounting, call centres, HR and IT).
The available Hungarian workforce suits the needs of international businesses
Sources: HITA Hungary Today 2013; HITA Investment Guide 2013; http://www.state.gov/e/eb/rls/othr/ics/2013/204657.htm#
9. 9
Hungary provides 90% lower hourly labor cost compared to
Switzerland without compromising location or infrastructure
7.5
14.9
4.4
68.3
8.3
10.6
7.4
30.4
27.4
3.7
5.8
6.0
8.7
30.5
34.2
14.9
37.2
32.0
21.0
Avg. labor costs per hour are
approx. 90% lower in Hungary
than in Switzerland (EUR 7.5
vs. EUR 68.3)
Hungarian labor costs are
lower than in case of EU
members with similarly central
location (Austria, Slovakia,
Slovenia, Croatia)
Only Romania and Bulgaria
offer significantly lower labor
costs, but less than optimal
location and less developed
infrastructure would incur
other type of costs (e.g.
transport, equipment, training)
and risks
Hourly labor costs in EU countries - source: EUROSTAT, www.bfs.admin.ch/bfs/portal
Above EUR 50 EUR 20 - 50 EUR 10 - 20 EUR 7 - 10 Under EUR 7
10. 10
The labor law regulation in Hungary is very similar to the labor laws of other EU countries, providing a safe legal environment
▪Regular working hours: 40 hours per week (variable work schedule allowed, additional premium must be payed for shifts, night work and overtime)
▪Annual paid leave: min. 20 days (max. 30 days, increasing with the employee’s age)
▪Termination of contracts: mutual agreement and unilateral notice are both possible
▪Mandatory minimum gross monthly wageof unskilled workers / workers is approx. CHF 390 / CHF 450
▪Average gross salary of employees with tertiary educationis CHF 1200
▪Please see the table on the right for an overview of average gross monthly salaries per sector
Field
Average gross monthly salary (CHF)
Healthcare and SocialServices
610
Agriculture, forestryand fishing
660
Administration and Support
670
Construction
700
Education
830
Real Estate
830
Arts
840
Commerce
850
Logistics
870
Industry
960
Scienceand Technology
1 250
Finance,insurance
1900
Sources: HITA Hungary Today 2013; Act I of 2012; www.ksh.hu
11. 11
1)Infrastructure
2)Labor force
3)Grant opportunities
4)Current economic and manufacturing landscape
5)Swiss companies in Hungary
6)Investing in Hungary –step-by-step
7)Our references
Agenda
12. 12
„VIP” package
Smaller Hungarian Funds
New SzéchenyiPlan
Exclusively Hungarian Funds
Hungarian budget sources
European Union Funds
Co-financed grants & incentives
Direct EU grants
European AgricultureFundforRural Development Program
Community Programs
A variety of grant schemesare available for investors, provided by the Hungarian government and / or EU funds
13. 13
Cash subsidies
»Hungarian Government
»EU Funds
Tax incentives
Low-interest loans
Land available for free or at reduced prices
These incentives can be both refundable and non-refundable and take different forms
1.
2.
3.
4.
Main types of incentives related to investments
Aid intensity depends on region (varying between 10 to 50%) and it is higher for SMEs by 10 to 20%
Sources: HITA Investing Guide 2013; Hungary Today 2013
14. 14
Implementing investments, creating new jobs and training employees are aided by significant cash incentives
I.
a.
b.
c.
d.
e.
II.
III.
„VIP” investment subsidy
Manufacturing investments
R&D investments
Shared Service Centres
„VIP” training subsidy
„VIP” job creation subsidy
Vocational training facility subsidy
Research and technology innovation fund
Sources: HITA Investing Guide 2013; Hungary Today 2013
15. 15
Implementing investments, creating new jobs and training employees are aided by significant cash incentives
I.
a.
b.
c.
d.
e.
II.
III.
„VIP” investment subsidy
Manufacturing investments
R&D investments
Shared Service Centres
„VIP” training subsidy
„VIP” job creation subsidy
Vocational training facility subsidy
Research and technology innovation fund
•Negotiation based
•Rapid procedure –grant offer even within 1-2 months
•For investments greater than EUR 10 M
•Preferred areas:
•Manufacturing
•Shared Service Centres
•R&D
•Tourism
•Certain number of new jobs must also be created (10 to 200 based on the type of investment)
Sources: HITA Investing Guide 2013; Hungary Today 2013
16. 16
Implementing investments, creating new jobs and training employees are aided by significant cash incentives
I.
a.
b.
c.
d.
e.
II.
III.
„VIP” investment subsidy
Manufacturing investments
R&D investments
Shared Service Centres
„VIP” training subsidy
„VIP” job creation subsidy
Vocational training facility subsidy
Research and technology innovation fund
•45 companies have submitted subsidy applications for a combined investment value of CHF 5,6 billion
•Eligible costs include:
•Purchase of theplot
•Construction costs or rental fee
•Infrastructure
•New equipment and assets
•Intangible assets
•Investment period determined by the investor
•Commitment period: 5 years
Sources: HITA Investing Guide 2013; Hungary Today 2013
17. 17
Implementing investments, creating new jobs and training employees are aided by significant cash incentives
I.
a.
b.
c.
d.
e.
II.
III.
„VIP” investment subsidy
Manufacturing investments
R&D investments
Shared Service Centres
„VIP” training subsidy
„VIP” job creation subsidy
Vocational training facility subsidy
Research and technology innovation fund
•World-class scientific knowledge available
•Tradition of cooperation between Hungarian universities and multinationals (e.g. Telecommunications, Automotive sector)
•Eligible costs:
•Purchase of the plot
•New equipment
•Intangible assets
•Salary and contributions for new employees
Sources: HITA Investing Guide 2013; Hungary Today 2013
18. 18
Implementing investments, creating new jobs and training employees are aided by significant cash incentives
I.
a.
b.
c.
d.
e.
II.
III.
„VIP” investment subsidy
Manufacturing investments
R&D investments
Shared Service Centres
„VIP” training subsidy
„VIP” job creation subsidy
Vocational training facility subsidy
Research and technology innovation fund
•Eligible costs:
•24 months’ salary and contributions for new employees
Sources: HITA Investing Guide 2013; Hungary Today 2013
19. 19
Implementing investments, creating new jobs and training employees are aided by significant cash incentives
I.
a.
b.
c.
d.
e.
II.
III.
„VIP” investment subsidy
Manufacturing investments
R&D investments
Shared Service Centres
„VIP” training subsidy
„VIP” job creation subsidy
Vocational training facility subsidy
Research and technology innovation fund
•Eligible costs:
•24 months’ salary and contributions for new employees
•Provided for both general and special training
•Aid intensity between 25 –60%, higher in case of SMEs
•Condition: at least 50 new jobs
Sources: HITA Investing Guide 2013; Hungary Today 2013
20. 20
Implementing investments, creating new jobs and training employees are aided by significant cash incentives
I.
a.
b.
c.
d.
e.
II.
III.
„VIP” investment subsidy
Manufacturing investments
R&D investments
Shared Service Centres
„VIP” training subsidy
„VIP” job creation subsidy
Vocational training facility subsidy
Research and technology innovation fund
•Eligible costs:
•24 months’ salary and contributions for new employees
•Provided for both general and special training
•Aid intensity between 25 –60%, higher in case of SMEs
•Condition: at least 50 new jobs
•Additional subsidy for investments creating at least 250 new jobs in disadvantaged or least- developed micro-regions
Sources: HITA Investing Guide 2013; Hungary Today 2013
21. 21
Implementing investments, creating new jobs and training employees are aided by significant cash incentives
I.
a.
b.
c.
d.
e.
II.
III.
„VIP” investment subsidy
Manufacturing investments
R&D investments
Shared Service Centres
„VIP” training subsidy
„VIP” job creation subsidy
Vocational training facility subsidy
Research and technology innovation fund
•Eligible costs:
•24 months’ salary and contributions for new employees
•Provided for both general and special training
•Aid intensity between 25 –60%, higher in case of SMEs
•Condition: at least 50 new jobs
•Additional subsidy for investments creating at least 250 new jobs in disadvantaged or least- developed micro-regions
•Available for establishing vocational training facitilites and the development of the equipment for practical training
Sources: HITA Investing Guide 2013; Hungary Today 2013
22. 22
Implementing investments, creating new jobs and training employees are aided by significant cash incentives
I.
a.
b.
c.
d.
e.
II.
III.
„VIP” investment subsidy
Manufacturing investments
R&D investments
Shared Service Centres
„VIP” training subsidy
„VIP” job creation subsidy
Vocational training facility subsidy
Research and technology innovation fund
•Eligible costs:
•24 months’ salary and contributions for new employees
•Provided for both general and special training
•Aid intensity between 25 –60%, higher in case of SMEs
•Condition: at least 50 new jobs
•Additional subsidy for investments creating at least 250 new jobs in disadvantaged or least- developed micro-regions
•Available for establishing vocational training facitilites and the development of the equipment for practical training
•Primarily aimed at R&D activities involving a broad cooperation of companies, universities and research institutions (e.g. clusters)
Sources: HITA Investing Guide 2013; Hungary Today 2013
23. 23
Investments of less than EUR 10 million can also qualify
Several priorities
•Supporting R&D activities
•Creation of new workplaces
•Environmental investments
•Technological investments
Aid of small and medium-sized enterprises is a high priority!
A wide range of tender opportunities is also available from EU Funds...
... and since the 2014 –2020 programming period has just started, the budget for subsidies is still almost intact!
Sources: HITA Investing Guide 2013; Hungary Today 2013
24. 24
Up to 80% of corporate income tax („CIT”) normally due can be deducted for a period of maximum 10 years(beginning after the completion of the development).
Eligibility conditions:
•ThecurrentvalueoftheinvestmentisatleastCHF12million(however,incertaindesignatedareasthetaxincentiveisguaranteedifthecurrentvalueoftheinvestmentisatleastCHF4million)
•The investment results in the creationof new facilities or the extensionof existing facilities; or...
•... substantially changes products or production processes (excluding investments in basic research, applied research andexperimental development); or...
•... the investment substantially contributes to the growth of the average annual number of employeesor significantly increase the total annual wage costs
Varioustaxallowanceopportunities are also available for investments that create new facilities or jobs
Development tax allowance
1.
Tax incentives available for investments that createnew jobs
2.
Tax incentives are calculated basedon 24 months’ salary for new employeesemployed within a three-year period.
There are no limitations on the amount of the eligible costsnor the number of newly created jobs.
Sources: HITA Investing Guide 2013; Hungary Today 2013
25. 25
An employerwho employs researchers (with at least a Ph.D.) can apply a social tax allowanceregime (100%) on the gross wage up to CHF 2000 per month.
Varioustaxallowanceopportunities are also available for investments that create new facilities or jobs
Tax allowance for researchers
3.
Employing young or old people, unskilled or long-term unemployed people or mothers with young children, the employer can apply a regime of social tax allowances (50%or 100%) on the amount of CHF 420 each month(per employee).
Tax allowance as part of the job protection plan
4.
A Corporate Income Tax („CIT”)base allowance and Local Business Tax (“LBT”) base allowance applies to R&D activities if the taxpayer carries out R&D activities itself. The cost of R&D is deductible from the tax bases.
Tax incentive related to R&D
5.
Jobs created by SSCs may entitle the companies to obtain CIT and LBT incentives. The amount of the allowance may be up to 12 months’ total salary expenses and contributions for newly hired employees. The LBT base may also be reduced by HUF 1 million (approx. CHF 4000) per each additional employee in the year they are hired.
Tax advantages for Shared Service Centres
6.
Sources: HITA Investing Guide 2013; Hungary Today 2013
26. 26
1)Infrastructure
2)Labor force
3)Grant opportunities
4)Current economic and manufacturing landscape
5)Swiss companies in Hungary
6)Investing in Hungary –step-by-step
7)Our references
Agenda
27. 27
Despite the financial crisis, almost all sectors experienced significant growth in Hungary in the last few years
Source:KSH
Manufacturing, Transporting and storageand Scientific and technical activities provide excellent entry opportunities because of (1) a trend of growth both in productivity and employment and (2) being among the sectors that benefit the most from the governmental grant schemes.
The size of the Construction sector has slightly decreased due to the financial crisis, but it still has an increasing productivity and the work force available is cheap yet experienced.
* GVA: Gross Value Added, difference between output and intermediate consumption (calculated as GVA = GDP + Subsidies –Taxes)
Change of productivity and employment by sectors (2009 –2012)
GROWTH ZONE
Size of the bubbles: GVA in 2012
28. 28
Growth of productivity and employment is especially dynamic in manufacturing, extending to almost all industries
Source:KSH
* GVA: Gross Value Added, difference between output and intermediate consumption (calculated as GVA = GDP + Subsidies –Taxes)
Change of productivity and employment by branches of manufacturing (2009 –2012)
Size of the bubbles: GVA in 2012
The size of the Vehicles industry increased by almost 50%. One of the greatest investments was made by Daimler AG, who selected Hungary as the location for its new Mercedes-Benz Plant.
Availability of skilled workforce, R&D activities and implementation of state-of-the-art technologies enabled a significant increase in productivity –a trend that is still ongoing.
29. 29
Hungary is regularly selected as a manufacturing location by the largest multinational companies
CHF 5.1bn
Source: Dun & Bradstreet (based on revenues in 2011)
16800 emp.
CHF 1.5bn
2300 emp.
CHF 2.2bn
8500 emp.
CHF 3.4bn
2500 emp.
CHF 2.5bn
6500 emp.
CHF 1.1bn
5200 emp.
CHF 1.5bn
7000 emp.
CHF 7.5bn
10000 emp.
CHF 3.0bn
2900 emp.
CHF 2.1bn
3100 emp.
CHF 3.4bn
2500 emp.
Legend:
No. of employees in Hungary (2012)
Revenue of the Hungarian affiliate (2011)
Top 10 manufacturing companies by revenue
30. 30
The largestelectronics manufacturers add substantialvaluetotheHungarianeconomythroughemployingthelocal labourforceatstate-of-the-artworkplaces
Source: HITA
Budapest
31. 31
1)Infrastructure
2)Labor force
3)Grant opportunities
4)Current economic and manufacturing landscape
5)Swiss companies in Hungary
6)Investing in Hungary –step-by-step
7)Our references
Agenda
32. 32
Numerous Swiss companies are already present in Hungary
Legend:
Production, manufacturing
Sales, logistics
Shared Service Centre
The largest Swiss companies present in Hungary:
FMCG
Pharma
Pharma
IT (Software)
Railway Vehicles
Flavorings and Fragrances
Electromech. parts
Cables and sub- assemblies
Agriculture and trade
Plastics
Constructionmaterials
Energy
Energeticsand automation
Alternative energy
Construction systems
representing a great variety of industries and services
33. 33
Not just the globals, but small and medium companies also have selected Hungary as a (primary) location for production
NOVOPLAST AG (founded in 1945) has its core competencies in single and multi-component injection moulding, extrusion and the assembly and manufacture of assembly groups and system solutions
NOVOPLAST HUNGÁRIA is NOVOPLAST’s first and only subsidiary
Established in 1996, the Hungarian subsidiary producestechnical injection-mouldedpartsand manufacturesassembly groups and system solutions
„With a well-trained team of specialists and a modern infrastructure, NOVOPLAST HUNGÁRIA Kft. forms an attractive addition to its Swiss parent company, and is used in a targeted manner for the benefit of our customers in appropriate cases.”
(NOVOPLAST AG)
CabTec AG offersmore than 10,000 customer- specific products from single cables to the assembly of complex cable assemblies
CabTec AG has its HQ in Rotkreuz –however, all production is done on three production sitesabroad: two in Hungary and one in China!
Kecskemét is CabTec’s production site for high- tech cable and industry cable with 450 employees and a local HQ.
The Szekszárd plant primarily manufactures automotive cable assemblies and wires.
„On a floor space of 5,600 sqm with state- of-the-art machinery, manufacturing, and office area, 450 employeeswork on the solutions for our customers.”
(CabTec AG, about the site in Kecskemét)
34. 34
1)Infrastructure
2)Labor force
3)Grant opportunities
4)Current economic and manufacturing landscape
5)Swiss companies in Hungary
6)Investing in Hungary –step-by-step
7)Our references
Agenda
35. 35
Step1 -Preparation of corporate documentsby a Hungarian Attorney-at-law. Time required: 1 day. Expected costs: depends on the attorney selected.
Step 2-Opening of a bank account. Time required:1 day. Expected costs:bank fees.
Step3-Registering the company at the HungarianCourt of Registry and obtaininga tax identification number. Time required:1 day (except public companies for which the process is approx. 2 weeks). Expected costs: CHF 210 for an LLP, CHF 420 for an LLC and an Ltd. and CHF 2 520 for a listed Plc.
Step 4-Registration with the Hungarian taxauthority, municipality, chamberof commerce and the Hungarianstatisticaloffice. Time required: 1 day, Expected costs: free of charge.
Establishing a business in Hungary is astreamlined process that can be completed in just a few days
Starting a new business
Dealing with ConstructionPermits
RegisteringProperty
EnforcingContracts
Hungary
5days
79.0 days
16.5 days
395days
OECD
11.1days
147.1 days
24.1days
529 days
Benchmarked against the OECD average, the Hungarian administration allows significantly shorter lead times for starting new businesses, facilities and enforcing contracts!
Sources:HITA, doingbusiness.com
36. 36
1)Infrastructure
2)Labor force
3)Grant opportunities
4)Current economic and manufacturing landscape
5)Swiss companies in Hungary
6)Investing in Hungary –step-by-step
7)Our references
Agenda
37. 37
PMC is a result-and value-oriented consulting enterprise with strong backbone of both domestically and internationally experienced employees
•M&A (eitheron the sell-side orthe buy-side)
•Due diligence
•National and EU grants
•Corporate finance
Strategy
•Strategy development(entry, exit, acquiringexpansion)
•Strategy workshops andknow-how transfer
•Benchmarking & bestpractice
•Strategic due diligence
•Optimization of ownership structure
Attracting capital
Management
•Cluster Management
•Innovation Management
•Interim Management
•Supply Chain Management
•IT controlling
•Reducing Cost
•Crisis Management
•Project Management
•Quality assurance
•Monitoring
•Top management trainings
Our services are at the cross-sections of a virtual 3D cube:
38. 38
Despite the financial crisis, our successful projects enabled us to continuously expand our company group and provide more and more diverse, yet synergistic services for our Clients
Established in:2003
Profile:Strategic and management consulting
Established in:2013
Profile:Attracting capital; M&A projects; financial advisory
Established:2012
Profile:Consultancy related to R&D&I, EU funds, Hungarian Grant system, tendering and incubation for startup companies
Proactive Management Consulting
(PMC)
Proactive M&A
(P M&A)
Biostatisztika
(„Biostatistics”)
NapraForgó Non-Profit
(„Sunflower”)
Establishedin:2000
Profile: Support the (re- )integration of disadvantaged employees to the labor market
Swiss Company based in Zug Kanton
Establishedin: 1987
To be acquired by PMC in 2014
Profile: Swiss branch of the PMCGroup, serving our Clients with our complete portfolio; also provides Trust Company services and Business incubation for startup companies (including expansion abroad)
Non-Profit
For-Profit(based in Hungary)
For-Profit (based in Switzerland)
Whilestill working as Country Manager of the Boston Consulting Group, Tibor Héjj founded NapraForgó Non-Profit to aid the disadvantaged people in entering / returning to the labor market
In 2002 A.T.Kearney (ATK) decided to close its Budapest Office. In 2003 PMC has been established by Tibor Héjj, former International Vice President of ATK, as a new independent consultancy and the local representative of A.T.Kearney.
As a result of successful projects our „Attracting capital” business has grown into an independent affiliate under the name Proactive M&A
To serve our Swiss partners better and to strengthen our local presence, we decided to acquire a Swiss Company –this acquisition is currently ongoing and is expected to be concluded in February –March 2014
In 2012 we established Biostatisztika to help our Clients taking advantage of the numerous R&D&I and Grant opportunities in Hungary
1.
2.
3.
4.
5.
39. 39
2013 Preparing and managing the sale of evopro group’s industrial software
development business (employing 600 Development Engineers in four countries) for
Accenture as sell-side lead consultant
2013 Conducting business analysis and preparing road show documents of a renewable
energy plant investment in Hungary for Grenor AS (Norway)
2012 Selling a branch of a private Hungarian leading company with about 100
electrical engineers to a German multinational company
2012 Selling a business line of a Hungarian IT company to the Hungarian affiliate of a
multinational company
2011 – 2012 Preparing a grant application for the National Directorate General for Disaster
Management in order to introduce the mobile dams in Hungary in flood protection.
The grant resulted in a cash subsidy of € 3.5 million; it is paid by the Swiss
Contribution fund, and it was approved by the Swiss State Secretariat for
Economic Affairs (SECO) and the Hungarian Ministry for National
Development.
2011 Market research of the Hungarian mobile-payment market and development of an
entry-strategy for the client of the Austrian Arthur D. Little
Proactive M&A
We have strong expertise in supporting our Clients in their
expansion in(to) Hungary
40. 40
2011International investor-seeking (with the help of a ’road-show document’) during the sales of ISVH,a leading Hungarian manufacturing company
2011Liason in the sales of the largest (4 MW) Hungarian biogas plant (Szarvas) after its launch
2009Preparing the incentive strategy of the German AurigonLife Science Group, who founded the largest Hungarian toxicology company near Budapest. We supported Aurigonin receiving tax allowance.
2008Preparing a grant application for GedeonRichter Plc the largest Hungarian pharmaceutical company, what resulted €3.3 million cash subsidy.The subsidy was spent for R&D, mainly for building laboratories.
2006Complete planning and organization of on-ground traffic of air passengers of FlyBalatonAirport, Sármellék. FlyBalatonreceived cash subsidy and tax allowance for reconstruction work and job creation.
2005-2006Full-scope management of a Wind Power Plantinvestment for two Irish investor, J JFleming Holdings Ltd. and SWS Natural Resources Limited, from the realization study to the acquisition of permissions, includingthe negotiations with the representatives of the government on subsidies.
We have strong expertise in supporting our Clients in their expansion in(to) Hungary
41. 41
We serve large multinational companies as well as SMEs from Hungary and abroad
42. Thank you for your attention!
Theaboveinformationisintendedtoprovidegeneralguidanceonly.Itshouldnotbeusedasasubstituteforprofessionaladviceorasthebasisfordecisionsoractionswithoutpriorconsultationwithyouradvisors.Whileeverycarehasbeentakeninthepreparationofthepublication,noliabilityisacceptedforanystatement,option,errororomission.
1126 Budapest, Szendrő u. 30.; Comp. Reg. No..: 13-09-092832;
ISO 9001:2008Certificate RegistrationNo.: 01 100 1319942
E-mail: hejj.tibor@p-m-c.hu
Tel / Fax: +36 1 266 1778
Mobile: +36 30 350 0296
www.p-m-c.eu