The Hungarian National Trading House’s regional offices based in Arad and Oradea have registered significant results since their opening in December last year and in less than 6 months facilitated the creation of numerous new business partnerships. The Trading House and its partners: local councils and entrepreneurs of the region see further potential for cooperation and investment in the construction sector and industry in general.
By helping businesses in both countries to find relevant partners, offering background information on potential partner companies and the legal and economic environment of the two countries, as well as actively looking for specific business opportunities, the Hungarian National Trading House is contributing to the development of a Carpathian Basin Economic Region, and indirectly to more vigorous external trading for Hungary, deepening export cooperation between local businesses, and the entire region’s increased international competitiveness.
Levente Bognár, deputy mayor of Arad said the city has seen significant economic progress in recent years. Several important urban regeneration projects have been implemented, further enhancing Arad’s economic role in the region. The deputy mayor stressed that the local office of the Hungarian National Trading House contributed to these developments with up-to-date information, networking and expertise. For instance, the redevelopment of the urban road network was carried out by a Hungarian company. Levente Bognár said the city aims to become the foremost economic player in the region, and for that they also count on the involvement of Hungarian companies. In the near future, the city council aims to redevelop the castle and surrounding areas, for which small and medium-sized enterprises from Hungary are also welcome to submit a tender.
István Huszár, deputy mayor of Oradea also praised the opening in December of the Hungarian National Trading House’s local representation. He said the closeness of Oradea to the Hungarian border opens up opportunities for Hungarian investors. The role of the HNTH and its local representation is paramount in forging the right partnerships, and is facilitated by the excellent ties they have with the local administration. The deputy mayor said they would welcome a greater number of Hungarian investors in the region, and he counts on the assistance of the Hungarian National Trading House important in this regard.
The Hungarian National Trading House’s network of offices in the Carpathian Basin is a success
Zoltán Mészáros, a Transylvanian entrepreneur is in the process of extending his furniture company based near Oradea by building a new plant in Biharkeresztes, a town just across the Hungarian border. He said within 5 years the new factory will provide employment for 300 people in the region. In order to take advantage fully of the increased capacities resulting from this investment, his Hungarian partnership network will also need to expand.
In 2015 the Hungarian National Trading House signed over a thousand new cooperation agreements with Hungarian companies, extending its contact list and ensuring it has sufficient Hungarian products available in case of larger business inquiries. Last year Hungarian SMEs realized over 2 billion HUF (EUR 6,41 million, USD 7,35 million) worth of transactions with assistance from the Trading House. In the first quarter of 2016 the HNTH helped implement several transactions, with a total value of half a billion HUF.