Hungarian Investment Promotion Agency

The policy of strategic partnerships with large companies is a unique, yet lesser-known success story of the Hungarian economy. Its beginnings date back to the beginning of the previous decade. At that time, Hungary was struggling with the consequences of the previous period's mismanagement and the aftermath of the global economic crisis, which required fresh solutions capable of triggering economic growth. The Hungarian Government thus placed our country's economic strategy on a new footing.

Innovations included a new spirit of cooperation between the Government and large companies, which has been embodied in the Strategic Cooperation Agreements since 2012. These agreements have created new forums for cooperation, which have made the relations more practical and efficient, have strengthened the trust between the Government and companies, and have further improved the competitiveness of the domestic business environment.

All this has contributed greatly to Hungary becoming the most attractive investment destination in the Eastern Central European region. The organizations responsible for preparing this program and coordinating the partnership agreements are the Ministry of Foreign Affairs and Trade and the HIPA Hungarian Investment Promotion Agency.

Long-term trust

Despite the strict conditions, we convinced a large number of global companies to join forces. All strategic partners have been operating in Hungary for at least five years, employ more than a thousand people, rely a great deal on domestic suppliers, and promise new investments. They are our long-term allies, and with their commitment they show that all economic actors can count on attention and support from the Government if they contribute to the development of our country.

The first partner in the program is Coca-Cola, which represents the American lifestyle and freedom. The popularity of the initiative is shown by the fact that 35 companies have joined it within a year and a half after its launch in 2012. The number of companies has continued to rise in recent years, with a fifth of the partners joining after 2020. Almost half of the 100 partners represent the world's three largest economies, with American and German companies dominating (16 partners each), while the Chinese are in third place with 11 agreements. Every tenth strategic partner is a Hungarian company, and a total of 20 nations are represented, including Danish, Canadian, Israeli and Mexican companies. The partners represent 25 different sectors, from vehicle manufacturing to pharmaceuticals to telecommunications.

Our strategic partners form the foundation of the Hungarian economy: they employ nearly 200,000 people and achieved a total net sales revenue of HUF 25,000 billion in 2024, whereas Hungary's GDP was HUF 80,000 billion in 2024. These companies contribute significantly to the economy through their products and services, as their export ratio is close to 70 percent. Without them, domestic export performance would not have doubled since 2010, despite global economic difficulties.

Active connection

Let's look at the practical side of the agreements. Strategic partnerships have become a key element of effective communication between the government and the business sector over the past decade and a half. Working group meetings provide an opportunity for policy dialogue, exchange of experiences and the definition of common directions.

The government is now working with one hundred such key allies and strategic partners for the long-term success of the Hungarian economy. The aim of the partnership is to put the strength of the past, the momentum of the present and the promise of the future at the service of the interests of all Hungarians. That is why the hundredth strategic partnership agreement is of outstanding importance. At the same time it is far from the end of the road, only a stage from which we will move forward with unwavering commitment.