Hungary is an open economy and particular emphasis is placed on encouraging foreign investment. Partnership with potential investors is considered a national priority; special attention is paid to the needs of companies already settled in Hungary and to the further improvement of the business climate. Inward FDI stock amounted to 78% of GDP (at the end of 2014), the highest ratio in the region.
In order to improve the business climate, the Hungarian government:
- has introduced a foreign-trade focused foreign policy to attract FDI
- has doubled the amount of financial support for R&D activities in the 2016-2020 period.
- has reduced the personal income tax to 15%.
- has reduced the corporate tax rate to the lowest level in the CEE region.
- introduced a new act on a practice based dual training in favour of business needs.
- has entered into strategic partnership agreements with numerous companies, giving fast access to the government via workshops and regular consultations.
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