The number of companies connected to the French food industry operating in Hungary has also increased

By: Trademagazin Date: 2024. 06. 07. 11:10

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There are 544 French-owned companies operating in Hungary, almost 11 percent more than in 2020, with almost 49,000 employees, and their annual sales revenue is more than 13 billion euros, the Hungarian-French Chamber of Commerce and Industry announced on Thursday with MTI, the Economic Department of the French Embassy in Hungary and based on their study with the Hungarian organization of the French Foreign Trade Council.

According to the announcement, a publication similar to the French presence in Hungary 2024 was prepared in 2020, and France has maintained its prominent position as an investor in Hungary ever since. According to the latest data from the Magyar Nemzeti Bank (MNB), France is the fifth largest foreign investor in Hungary, with an investment amount of 5.15 billion euros, which is 5.1 percent of all foreign investments.

The fifth place is primarily the result of the reinvestment of French companies already in Hungary. The inflow of working capital associated with the creation of new companies is much more subdued than before. The French presence in Hungary has changed in the recent period, the predominance of large French company groups has fallen, and instead the weight of small and medium-sized companies and companies with medium market capitalization has increased, they wrote.