Investement and trade development departments of Hungary

- ITD Hungary

- National Foreign trade Department (HITA)

The Hungarian Investment and Trade Development Agency, abbreviated to ITD Hungary, was founded in 1993 by the Hungarian MInistry of National Development and Economy to help implement the government's investment and trade promotion policies.

ITD Hungary's mission is to help Hungarian small and medium-sized enterprises strengthen their position in the global market by fostering entrepreneurial spirit, promoting regional development and expanding international relationships.

We also actively facilitate the investment process and encourage the import and export of capital. This promotes new enterprises, expansion and diversification, as well as boosting activity in existing sectors.

Our goal is to play an active role in generating added value and building a knowledge-based society in Hungary. To achieve this, we must focus on innovation, economic growth and employment.

ITD Hungary's mission is to help Hungarian small and medium-sized enterprises strengthen their position in the global market by fostering entrepreneurial spirit, promoting regional development and expanding international relationships.

We also actively facilitate the investment process and encourage the import and export of capital. This promotes new enterprises, expansion and diversification, as well as boosting activity in existing sectors.

Our values:

• highly qualified and motivated employees
• practical, customer-oriented services
• a highly-developed network of contacts within government institutions and international organisations and businesses
• further promotion of Hungary's positive image
• effective support for high-quality Hungarian products capable of competing on the international market

Activity

ITD Hungary is the Hungarian government’s Investment and Trade Development Agency, established by the (then) Ministry of Industry, Trade and Tourism in 1993 to promote international economic relations and business endeavours having direct impacts on the development of the Hungarian economy.

ITDH has regional representative offices in eight regional centres of Hungary, from which most of the company's services are directly available. The Agency’s foreign network operates under Hungary’s diplomatic services at 55 offices in 43 countries.

Investment promotion

Project preparation

• In-depth, tailored information on the local economy and business climate, corporate taxation and the legal environment, as well as sector-specific overviews
• Site visits, meetings with local, regional and government bodies and introductions to local suppliers, service providers and experts
• Information on available incentives 

Implementation

• Site selection assistance, coordination of license procedures
• Finalisation of incentives agreements
• Assistance with recruitment and visa applications
• VIP treatment for expatriate employees 

After care

• Intermediary role for future developments between government bodies and companies operating in Hungary
• Support and generation of reinvestments 

Trade development

Through a diverse set of marketing tools and support programmes ITD Hungary offers substantial logistical, financial and professional assistance to both start-up and established Hungarian exporters. A major part of ITD Hungary’s trade promotion activity is carried out by the Agency’s Customer Relations Centre operating under the Business Development Directorate.

These activities, targeting mainly small and medium size enterprises, include the following main elements:

• Offering leads on export opportunities in electronic and printed form;
• Organising business networking events;
• Gathering and disseminating information on EU and local funding opportunities;
• Offering advice on export procedures, customs, legal and taxation issues;
• Managing, on behalf of the Ministry of Economy and Transport, the Government’s trade promotion application programmes (grant schemes);
• Maintaining regional company and project-specific databases;
• Advising companies on export-related promotional materials and communications projects;

Placing activities with high added value into the focus of its trade promotion, the Agency concentrates currently on the following priority sectors: processed food, pharmaceuticals and medical engineering products, precision engineering, automotive parts and softwares.