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Currently, more than 10,000 companies are registered in Hungary with annual net sales of more than HUF 1 billion and almost 7,000 of these are of fully-owned by Hungarians, according to business database company Opten Kft., writes origo.hu.
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The proportion of large firms with annual revenue above Ft 1 billion that are foreign owned is on the decline, dropping from 41% in 2011 to 31% now, company information service provider Opten reports.
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The European Commission projects an economic contraction of 7% in Hungary this year, though it expects a rebound in 2021, with annual growth of 6%.
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The lockdown to contain the spread of the novel coronavirus caused double-digit declines in Hungary’s exports and imports in April, a second reading of data released by the Central Statistical Office (KSH) shows.
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Swiss sensor maker Sensirion announced plans to establish a production base in Debrecen, in eastern Hungary. The plant, being built and financed by a local “build-to-suit” partner, will meet growing demand for sensors.
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Having to work from home during the lockdown months did not have a negative effect on the efficiency of businesses in Hungary, according to research by EY and HR Fest.
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