For the first time, Visa has awarded women-owned businesses in Hungary, with the five winners receiving HUF 2 million each and one-year mentoring, Visa told MTI on Friday. Visa's She's Next program provides financing, management and development assistance to women-owned businesses. Almost 400 businesses applied to the competition, which was launched in Hungary in March, […]
The majority of companies operating in Hungary are focusing on digital transformation, and only 34% of them do not consider it a significant challenge. K&H's innovation survey, the results of which were communicated to MTI this Friday, measured the most significant increase in the use of machine learning, especially in personalized offer, service and product […]
The Esztergom plant of Magyar Suzuki Plc produced 129,022 cars in 2022, an annual increase of 20%, while net sales rose by 22.3% to EUR 2.144 billion, the company's executives said at a press conference in Budapest on Thursday. Róbert Krisztián, the company's deputy CEO, added that last year, due to the disruption in logistics […]
31% of Hungarian employers are planning to expand their current workforce in the third quarter of this year, while 18% are planning to reduce their workforce, Manpower Hungary said on Thursday, based on its labor market forecast. ManpowerGroup conducted its quarterly survey among almost 39,000 employers in 41 countries around the world, asking a representative […]
The Budapest Stock Exchange (BSE) has supported the development of 255 Hungarian-owned medium-sized companies with a total of HUF 2.1 billion through its mentoring program, BSE announced on Wednesday. The statement recalled that the BSE's program for the development of the small and medium-sized enterprise sector was launched in 2018 with EU funding. The mentoring […]
Korean-owned Samyang Biopharm’s new plant built for EUR 26.2 million has been inaugurated in Gödöllő where synthetic suture materials are manufactured. The company plans to ramp up production gradually, and it will create 55 jobs. South Korean Samyang Group has been present in Hungary since 2010 when Samyang EP Magyarország Kft. started to manufacture plastic […]
In 2020, Master Good, Hungary's largest poultry processor, acquired Sága, Hungary's leading poultry meat products company, the owner of brands such as Selyemsonka, Dino and Füstli, which celebrated its 25th anniversary this year. The last three years have been a period of technological investment, and now, Master Good says, it is time to put the […]
The global market for mergers and acquisitions (M&A) set a new record for the number of deals in 2022, but the total value of deals was 30% lower than in 2021, according to a new study by the accounting firm Deloitte. The number of transactions hit a decade high, with 44,765 deals last year, up […]
Denso Manufacturing Hungary Ltd. installs three new production lines at its Székesfehérvár site and launches a large-scale reskilling program to adapt to electrification. The investment scheduled to be completed by April 2024 is worth EUR 64.4 million (over 14% of which is covered by Hungarian taxpayers through state subsidy) with up to 55 new jobs […]
Masterplast Plc. and Market Építő Plc. have announced on the website of the Budapest Stock Exchange (BSE) on Friday that they have established a joint venture to develop and manufacture new building materials for Master Plaster and Master Builder Construction. The two companies had a strategic cooperation agreement on the establishment of Budapest-based MIP Alapanyaggyártó […]
The innovation activity of Hungarian companies has not changed in the past six months; K&H's index measuring this stagnated at 28 points on a scale of up to 100, which means that Hungary's gap with the largest innovator countries and the EU average has increased, but digitalization has strengthened, Balázs Németh, head of innovation at […]
The TritonLife Group has opened a new private hospital in Miskolc, NE Hungary, with a HUF three billion investment, the Hungarian-owned private healthcare provider told MTI on Thursday. In their statement, they emphasized that it was for the first time that the National Public Health Center granted a license to an integrated private healthcare institution […]
Entrepreneurship is considered an attractive and socially valued career path in Hungary, and the number of businesses has started to rise again, according to research by Global Entrepreneurship Monitor and Erste Bank sent to MTI on Wednesday. Despite the turbulence of the past year, the public's assessment of the entrepreneurial climate in Hungary is basically […]
The Veszprém site of Continental Automotive Hungary Ltd., which is celebrating its 30th anniversary this year, has reached the one billion sensor production mark, the company told MTI. The Hungarian subsidiary of the German automotive group said in a statement that thanks to the developments of the past decades, the Veszprém site, which is already […]
US-based Dana Incorporated has announced to launch two projects to expand its operation in Győr. The leading auto parts manufacturer adds new capacities worth some EUR 96 million to meet growing demand for EVs. The investments, over 18% of which are covered by Hungarian taxpayers through a government decision, will create nearly 300 jobs for […]
