Investment opportunities in Hungary for Turkish investors discussed at UEZ 2022
In the 'Hungary - Türkiye Business Opportunities' session held under the sponsorship of HEPA, what kind of unity or difference there is between Hungary and Türkiye in terms of business practices, what is the sine qua non of doing business or developing a business in Hungary and what opportunities Hungary offers to Turkish investors were discussed.
The session was moderated by HEPA Türkiye General Manager Burak Aktas, and attended by OTP Bank Hungary Gergely Nagy, Polat Holding CEO Kaan Yucel, EXIM Hungary Chairman & CEO Kornel Kisgergely, Hungarian Export Development Agency HEPA CEO Kristof Dr. Szabo and Hungarian Ambassador to Ankara Viktor Matis.
NAGY: TRADE RELATIONS BETWEEN THE TWO COUNTRIES CONTINUE TO DEVELOP
OTP Bank Hungary Gergely Nagy said, “To give information about the work at the government level, the business connection between Türkiye and Hungary continues to develop. While there were 5 flights a week between the two countries 5 years ago, there is now more than one flight per day. For Turkish entrepreneurs, when entering the Hungarian market, the ideal would be to enter with a Hungarian partner who knows the country.
YUCEL: WE WILL CONTINUE OUR INVESTMENTS IN HUNGARY
Polat Holding CEO Kaan Yucel said the followings:
“As Polat Holding, our investments in Hungary date back to the 1990s. Hungary was chosen to enter the European region and our holding is expanding to Europe from there. As a group, when we looked for a place for overseas investment 4-5 years ago, we chose Hungary, which has been our campus for a long time. Although our investment here has a high income for us, our goal was to make it a sustainable investment. We have made a sustainable investment in Hungary and we are very happy to operate there. Our investments here will also continue. While doing business, we see that everyone in the authorized institutions and organizations is well-informed and guided in the right direction, which makes it attractive to invest."
DR. SZABO: SERVICE EXPORTS BETWEEN TURKIYE AND HUNGARY WILL ALSO DEVELOP
Hungarian Export Development Agency HEPA CEO Kristof Dr. Szabo said, “Everything is changing this year. But addressing change is a topic in itself. In addition, sometimes it is necessary to act with summaries. Looking into too much detail can cause you to miss some bigger events. Since the 1980s, Hungary has undergone radical changes. We have a significant economic volume in the world. In the report published by Harvard University, Hungary was listed as the 9th most important import partner. Today, we export to more than 200 countries. Socially and politically, similar developments are taking place in both countries, and I believe that we will achieve more positive results in the future. We have a target of 6 billion dollars and it is possible that it will happen. I believe that the export of services as well as goods will develop. Our export strategy, which we determined 2 years ago, was EU-focused. We are now targeting other markets so that risks can be managed correctly.”
MATIS: 2024 WILL BE THE YEAR OF TURKISH-HUNGARIAN CULTURAL EVENTS
Hungarian Ambassador to Ankara Viktor Matis said the followings:
“Relations between Türkiye and Hungary are stable and positive. Due to the agreements between the two countries, cooperation and works continue successfully. The Joint Economy Commission is convening between the two countries, and the solutions to the problems in the cooperation processes of the two countries are discussed here. There are 5 countries in which our minister is personally involved, one of which is Türkiye. In addition to commercial cooperation, there are cultural universities in Türkiye and Hungary, and 2024 will be the year of Turkish-Hungarian Cultural Activities.”
