Strong brands, strong Hungary

On 10 January the Hungarian Brand Association held an extraordinary general assembly in the building of the Hungarian Intellectual Property Office (SZTNH), in order to introduce the results of the study on member companies’ economic performance and social responsibility. In addition to this, the association also presented a package of six regulatory recommendations to the government.

Brand Association president Tamás Ács told that the ‘Strong Brands, Strong Hungary’ study had revealed: Brand Association members have already invested HUF 700 billion in Hungary, net sales of the 56 companies participating in the survey amounted to HUF 1,793 billion, in 2011 the 43 answering member companies paid HUF 452 billion in taxes and contributions. In 2011 the 56 companies directly employed 22,869 people – 410 on average, which is 70 times more than the national average; 73 percent of member companies had a social responsibility programme. The association’s recommendations to the government were prepared to show how brand manufacturers could do even more for Hungary’s economy: with 1. constant and constructive dialogue, 2. more brand-oriented economic policy, 3. calculable and efficient tax policy, 4. competent brand protection and fighting counterfeiting, 5. open and responsible retail communication, 6. standardised and efficient retail regulation. Secretary of state for foreign affairs and external economic relations Péter Szijjártó told that the government is ready for consultation and added that the Brand Association and the government share the same interests and objectives. He promised that in the future the government would pay increased attention to the national economic values created by brand building and would strongly support existing brands and the establishment of strong new brands. The secretary of state thinks that it is the domain of brand protection where the closest cooperation is possible. Finally he stated that he is ready to review existing retail regulations together with the representative of the trade, in order to guarantee the protection of suppliers and to preserve the balance of fair trading.