SEV, ACCI, Enterprise Greece and SEVE invite you to attend an information event regarding the Uruguayan market on Tuesday, December 12, 2023 at 14:00, at the premises of SEV (Xenophontos 5, 10557 Athens), with the support of Eurobank.

This event aims to inform Greek entrepreneurs on the prospects, possibilities and business opportunities offered by the Uruguayan market.

The event will be held in English, with physical presence. To join the event pleasε fill in the participation form here .

View the program of the event here .

For more information you can contact SEV (Ms. Athanasiou, T: 211 5006104, E: ir@sev.org.gr ), ACCI (Ms. Tina Retzeka, T: 210 3382342, 210 3382466, E: tretzeka@acci. gr ), SEVE (Ms Gialoglou, T: 2310 535333, E. ny@seve.gr ) and Enterprise Greece (Ms Ladopoulou, T: 210 3355746, E: a.ladopoulou@eg.gov.gr )

Interview of Mr. Vyron Vasileiadis, Founder & Chairman of V Group of Companies to Eleftheria Roma, Senior Advisor, Division of International Relations and Regional Policy of SEV.

E.Roma: Dear Mr. Vasileiadis, V Group, a dynamic Group of Companies, focuses on the areas of Waste Management and Environmental Technologies, highlighting the principles of the circular economy for a sustainable future and aiming for a zero-waste operating model. Would you like to tell us a few words about this extrovert orientation and activity?

Vasileiadis: Our Group is an environmental organization active in the fields of waste collection and management, alternative fuel production, Renewable Energy Sources, green technology and investments. Its activity also extends beyond borders with a presence in Egypt and the Balkans.
Indeed, our Group has fully adopted the business philosophy of zero carbon footprint and emissions, while the principles of circular economy are not just a strategy, but genetic characteristics of our identity. In fact, V Group was the first organization in its field to achieve a carbon footprint balance and receive relevant certifications.
The extroversion in our case is not focused on the classic advertising of our activities, but is based on the essential approach of all interested stakeholders, including local communities in which we operate but also the markets in which the V Group Group expands. For this reason, our Group designs and implements a holistic outreach plan with the aim of creating long-term relationships of trust, with local government bodies, industry bodies, international associations and organizations, academic institutions and environmental organizations. Our outreach strategy is not based on promoting what we do, but on contact and meaningful dialogue, with the sole purpose of mutual benefit.

Roma: V Group and the Suez Canal Authority signed a few months ago an agreement for the collection and management of waste. What does this collaboration entail for you and how do you see it contributing to the further expansion of the group’s business activity in the wider region?

V. Vasileiadis: I feel proud that one of the biggest brands of global shipping, Suez Canal, has chosen a Greek group as a partner and exclusive provider of port reception facilities. During the signing of the contract, we had the honor to do so in the presence of Prime Minister of Egypt and the Ministers of Environment and Petroleum.
The quality of Antipollution’s services (member of V Group), its 75 years of experience and the professional excellence of its executives, were recognized internationally and led to this success. Our sole objective at this time is to immediately start providing services and contribute to the Suez Canal Management Authority’s 2030 Green Canal goals by implementing strict safetyprotocols and international regulations for environmental protection. Antipollution has a lot to offer to the global shipping community and it is certain that it will consistently respond to international invitations.

Roma: You participate in the Business Council of Greece – Saudi Arabia, which was founded in 2022 at the initiative of Hellenic Federation of Enterprises. What is the added value you get from this participation?

V. Vasileiadis: Our participation in the Business Council of Greece – Saudi Arabia is a special honor for our Group and at the same time a large pool of cooperation opportunities. We follow the work of the Council with particular interest and participate in its appropriate actions. At the same time, we receive the essential information that is channeled and we make use of the knowledge that we receive. The contact with Saudi Arabian companies offers us the right to network and also get to know new methodologies, modern applications and innovative practices.

E.Roma: As a member of the Hellenic Federation of Enterprises Extoversion Committee, what are the benefits you get? Which would you say has been the most important so far and how has it helped you?

V. Vasileiadis: The presence of our Group in the Extoversion Committee is extremely important, as it constantly supplies us with valuable information about foreign markets. At the same time, the Committee’s work forms the basis for the dialogue with foreign companies and at the same time a matrix of opportunities for penetration into countries outside of Greece. In addition, the organized action program of the Commission offers the possibility of planning approach and contact with international stakeholders. The most important benefit we have obtained is the continuous supply of the Business Development department of our Group with timely information about the countries that interest us.

E.Roma: Do you think that ESG principles are a priority in business planning? What is your feeling about Greek businesses and what initiatives has V Group taken in this direction?

V. Vasileiadis: ESG principles underwrite each of our projects and are the denominator of each of our activities. Our entry months ago into the Sustainable Development Council was the recognition of the above but also an additional promise we made to do even more in this area. For this reason, we have established an autonomous, dynamic ESG department, signed memorandums of cooperation with leading ESG partners, design and submit an annual sustainability report, actively participate in actions, invest in knowledge, sponsor initiatives and continuously train our staff.

E.Roma: Mr. Vasileiadis, thank you very much for your time and for your interesting answers. We wish V Group even more success.

SEV, ACCI, SEVE and Enterprise Greece, cordially invite you to an informative day on the Indonesian market on Tuesday, 20 June 2023 at 14:00 at SEV’s offices (5, Xenofontos str., 10557 Athens).

The purpose of this event is to provide Greek entrepreneurs with insights into the prospects and business opportunities in the Indonesian market.

The event is organized with the support of Eurobank and will be conducted in English. To participate, please register through the provided link here by 19 June 2023. You may find the event program here.

For further information, kindly reach out to SEV (Ms Athanasiou, T: +30 211 5006104, E: ir@sev.org.gr), SEVE (Ms Yialoglou, T: +30 2310535333, E: ny@seve.gr), ACCI (Μs Tina RetzekaΤ: +30 210 3382342, +30 210 3382466, Ε: tretzeka@acci.gr ) and Enterprise Greece (Ms Ladopoulou, T: +30 210 3355746, E: a.ladopoulou@eg.gov.gr).

Sponsored by

Makrigianni: Dear Governor, Greece is currently trying to intensify its bilateral relations and broaden its trade opportunities. Do you believe there are opportunities for the Greek companies in the USA and more particularly at the State of Missouri? If so, in which sectors?

Governor: The State of Missouri provides significant opportunities for companies wanting to grow and expand the reach of their business. In Missouri, we have robust defense, ag-tech, and manufacturing industries, among others. Out of all 50 states in the USA, Missouri is 4th for new manufacturing facilities, 7th for tech manufacturing growth, 10th for our automobile industry, and 10th for our aerospace industry. Our many sector strengths, lend business opportunities for Greek companies to find success among these various supply chains and in our state. Missouri is a low-cost, low-tax state that offers a strategic logistical advantage in the center of the U.S. Companies that choose Missouri are supported by a skilled and capable workforce ready to go to work. Companies that choose Missouri choose success.

Makrigianni: Do you see investment opportunities with mutual interest? And if so, in which sectors?

Governor: Our expansive and growing defense industry offers such an opportunity. For example, Boeing, with its Defense, Space and Security manufacturing facility in St. Louis, Missouri, is the country’s second largest defense contractor. Its primary activity is aerospace manufacturing, but it also participates in aircraft parts manufacturing, ammunition manufacturing, and engineering services. The result is a growing number of companies within the sector or supporting sectors moving to our state to seize on the opportunity to grow their business and contribute to this supply chain.

Another great example is our AgTech and wider Food Solutions sector. Missouri’s robust food solutions industry includes nearly 400 companies and almost 100,000 farms, with the capacity for many more. This is all due to Missouri’s leading role in agricultural commodities such as rice, soybeans, corn, sorghum, cattle, turkeys, and hogs. Our diverse and thriving agriculture industry provides significant opportunity for Greek companies involved in the expansive value- added supply chain of agriculture.

Makrigianni: Are there any specificities (tax-oriented etc.) that should be taken into consideration by a Greek company potentially doing business in the USA?

Governor: As previously mentioned, Missouri is one of the most business friendly states in the U.S. We have low taxes, a low cost-of-living, and significant resources to help company’s skill up their workforce. We offer partnership in job training through our Missouri One Start and Missouri Works programs and enthusiastically support apprenticeship and on-the-job-training opportunities. Due to these efforts, we are 1st in the U.S. for on-the-job-training and 3rd for apprenticeships. These are just a few examples of what our state does to help companies succeed, and they’re resources that don’t come at high tax cost to companies or workers. Missouri ranks 3rd in the U.S. for our corporate tax index. We also recently cut income taxes for Missouri taxpayers, which means more money back in the pockets of Missourians, and prospective employees, to spend, invest, and save. In Missouri, a company finds low costs, a skilled workforce, and ample business opportunities – providing a proven model for success. Missouri is called the Show-Me State for a reason, you show us partnership and we’ll show you success.

V. Makrigianni: Thank you Governor for this fruitful and interesting interview.

Interview with H.E. Mr. Sergii Shutenko, Ambassador of Ukraine to Greece to Ms. Dina Athanasiou, Associate Advisor, International Relations & Regional Policy, SEV

D.Athanasiou: Your Excellency, Greece is currently trying to strengthen its bilateral relations and expand its trade opportunities. Looking forward to the next day of Ukraine’s post-war recovery, do you believe there are opportunities for the Greek companies in Ukraine? Is Ukrainian entrepreneurship familiar to Greek products and services?

Ambassador: For over a year, Ukraine has faced unprecedented challenges due to full-scale military aggression against our country. Nevertheless, we remain steadfast in our defence of territories and continue to conduct business.

45 Greek-registered companies were active in Ukraine before the war started. Most were engaged in the supply of foodstuffs and seasonal farm goods, corporate consulting, tourism and in the food and beverage sector and also in crewing for ocean-going vessels. So, the Ukrainians are familiar to Greek products and services.

Ukraine is known for skilled labor force and high education level. Ukraine is 21st in The Global Skills Index 2022 mostly in consequence of skills that involve computer science and applied mathematics, software engineering, big data, and machine learning.

Ukraine is historically known as the “bread basket of Europe”. Ukraine is in the top of global ratings: 1st exporter of sunflower oil, 2nd in export of ferro-silico-manganese, 3rd exporter of maize, barley and rape.

I am sure that our countries have opportunities for the fruitful bilateral cooperation.

D.Athanasiou: What about the opportunities on the investment level? Are there any with mutual interest? And if so, in which sectors?

Ambassador: One of the prospective spheres is energy. Greece has a huge experience in renewable energy. It is among the global leaders in terms of penetration of renewable energy sources (RES), according to the latest report by Ember, which focuses on the international energy sector for 2022. Greece took the seventh place internationally.

Wind is the most substantial and promising source of renewable energy in Ukraine, its solar capabilities are also exceptional. With above average wind speeds, solar irradiation and an increasing amount of agricultural waste, Ukraine’s renewables sector is poised for rapid growth. Ukraine’s above-average annual amount of solar irradiation (more than Germany, the industry leader) makes Ukraine an exceedingly attractive producer of solar energy, particularly for existing industrial facilities and the growing agribusiness sector.

IT sphere is also very promising. Amid the 2021 global lockdown, Ukraine’s IT industry showed a 20% growth and gaining a worth of more than $6 billion. Ukraine is a leading IT outsourcing destination in Europe, it has a large talent pool of 200,000 IT professionals, and strong tech education. Ukrainian software developers are recognized among the 5th strongest IT professionals globally thanks to their solid technical expertise, knowledge of emerging disciplines (Go, AI, big data, blockchain, etc.).

Ukraine maintains leading positions in production and exports of cereal grains. The annual cereal crop reaches over 70 million tons. Given the domestic market needs, Ukraine can export approximately 50 million tons of cereal grains annually. Ukrainian agriculture, already enjoying substantial cost advantages due to attractive land rent prices, extremely fertile soil, competitive wages and logistics, still has plenty of headroom for productivity growth as the yields per hectare remain below Western benchmarks.

With additional investments in management, education, irrigation, farming techniques, logistics and value-added production, Ukraine is poised to double its food exports. It can be interesting for the Greek investors.

Shipping and related activities are also promising spheres for investment. I believe that after the war we might renew talks on investing in the Ukrainian infrastructure, in particular ports.

D.Athanasiou: Considering that a Greek company examines its entry market strategy in Ukraine, are there any special factors (tax-oriented etc.) that should be taken into account?

Ambassador: Ukraine has introduced a number of import relaxations to ensure efficient operation of customs formalities during martial law.

Temporarily, until the termination or abolition of martial law on the territory of Ukraine, taxpayers under single tax groups I to III, may use the simplified procedure for declaring goods by submitting a preliminary customs declaration containing all the necessary information for the release of goods in accordance with Article 259 (5) of the Customs Code of Ukraine.

Customs clearance of goods shall be completed as soon as possible, but not more than one working hour from the date of presentation to the customs authority of goods, commercial vehicles subject to customs clearance, submission of a customs declaration or a document replacing it in accordance with law.

The payment for the performance of customs formalities by the customs authorities outside the location of the customs authorities or outside the working hours established for them shall not be charged.

Customs formalities may be performed by another customs authority, including without presenting such goods to this customs authority, under the coordination of the State Customs Service, if the customs authority does not fulfil the tasks assigned to customs authorities due to martial law.

A temporary suspension on the initiation and continuation of documentary customs audits of compliance with the requirements of the legislation of Ukraine on customs, including timeliness, reliability, completeness of accrual and payment of customs payments, has been introduced until the termination or abolition of the martial law.

On 27 July 2022, the law of Ukraine No. 2445-IX came into force, which provides for the exemption from import duty of products and equipment for the storage, transportation, loading and unloading of grain and/or oil crops when imported into the customs territory of Ukraine during the period of martial law and for 30 days from the date of its termination or cancellation, in particular:

– polymer sleeves and bags with a volume of at least 0.8 cubic meters for storing agricultural products;

– self-loading or self-unloading trailers and semi-trailers for transporting agricultural products.

On 4 June 2022, Regulation 2022/870 of the European Parliament and of the Council on temporary trade-liberalization measures entered into force. This decision complements the opportunities available to Ukrainian exporters under the EU-Ukraine Association Agreement.

Now the tariffs stipulated in the Agreement will be temporarily suspended. These are, in particular:

• duties on industrial products;
• suspension of the entry price system for fruits and vegetables;
• suspension of all tariff quotas for agricultural products;
• suspension of anti-dumping duties on imports of goods originating in Ukraine;
• suspension of global safeguards against Ukrainian goods.

D.Athanasiou: Fast forward to 5 years from now, how do you foresee the trade landscape between our two countries?

Ambassador: Fast forward to 5 years from now I foresee increase in trade between our countries. Promising spheres for the bilateral cooperation are energy sector, IT, agri-food and transport.

Greece becomes most important hub for alternative gas in Southeast Europe, Ukraine rebuilds from the war and seeks to implement long-term goals to diversify its energy sources. This cooperation could be mutually beneficial.

Ukrainian businesses have impressively adapted to the current situation, demonstrating extraordinary resilience in a volatile environment. Near 85 percent of enterprises have resumed operations by the end of 2022. Ukraine is a resilient nation. Ukraine has demonstrated its ability to cope with even the most difficult of challenges.

As one of the region’s largest countries with vast natural resources and a well-educated population, Ukraine has the potential to be a major economic engine for the region.

Investing in Ukraine’s future will also serve Europe’s own long-term interests.

Athanasiou: Thank you your Excellency for this fruitful and interesting interview.

Article by Mr . Geoffroy Roux de Bézieux, President of (MEDEF- Mouvement des entreprises de France), at ekathimerini.com

Today marks the beginning of the French business mission to Athens led by the President of the French Business Confederation (MEDEF), together with its international branch, MEDEF International. It is held in a peculiar political and economic context, that encourages a strong, united, and coherent response from European countries.

Greece and France have been maintaining an active political and economic dialogue, bolstered by today’s visit: we will move forward to deepen our relations for a sustained and inclusive economic recovery, along with supporting EU competitiveness and innovation. Decisive and coordinated action is needed to secure the position of European companies.

Greece has emerged stronger from more than a decade of hardship. Despite the consequences of the economic and financial crisis, the Greek economy is transforming, and a virtuous dynamic is in motion. Major strategic decisions have been taken by the Greek government under the leadership of Prime Minister Mitsotakis. The Greek Recovery and Resilience Plan is an ambitious lever for investment and growth over the long term: it has the potential to foster a strong economic recovery, to create jobs and to make Greece ready for the future. France has long been committed to working together with Greece and to strengthening our partnership to achieve these goals.

The present business mission, comprised of thirty representatives of French excellence and know-how, in continuity with this commitment, is attached to pursue a close dialogue with Greece’s business community and Government, to reaffirm the common willingness to put the two countries on track to deliver the 2030 climate goal and to achieve the societal transition required to decarbonize our economies. The areas of contribution between French and Greek companies include notably infrastructure resilience, sustainable cities, industrial decarbonation including nuclear energy, environmental protection, technology and innovation, sustainable tourism and, lastly, the maritime industry, the two last sectors being of paramount importance to our two countries.

Today, both France and Greece stand united, resilient, and ambitious in their strategy to shape long-term trends for a strong Europe at a moment when war is at our borders. This war prompts us to reaffirm our commitment and to take leadership in defending the key European values that unite us, i.e. human dignity and rights, freedom, rule of law, equality and democracy, and in pursuing a rules-based system of global trade governance. We will build a European strategic autonomy by concrete solutions and collective action in response to these challenges. We must reduce our dependencies and vulnerabilities to ensure the security of our supplies, the decarbonation of our energy supply and efficiency, strengthen our resilience and European strategic autonomy and align with the decarbonation and carbon neutrality goal for 2050.

The ability to negotiate effectively is a strategic tool for companies operating internationally and can lead to positive trade agreements, beneficial partnerships and, consequently, improved financial results for a company. Knowing the appropriate negotiation techniques per target market is key to successfully entering new markets. Cultural differences such as business ethics, trust, communication styles, time management, decision-making and risk-taking, contribute to how entrepreneurs from a particular culture or country tend to negotiate.

Learn more about all the above-mentioned by attending SEV’s ExportReady Master digital workshop, titled “Negotiations in International Trade“.

Practical examples of negotiation in international trade as well as the importance of solvency accreditation will be analyzed. In addition, a number of case studies will be presented, regarding various geographical zones, by industry executives representing different export sectors. The workshop is aimed at business executives involved in international business negotiations.

Date: Tuesday, 30^th of March 2023

Time: 15.00 – 17.00 pm.

Platform: Zoom

Participants: priority to SEV members

 You may see the program here. To attend the seminar, please register here. Participation is free for SEV members. For non-members, participation will be on a first-come first-served basis. The participation link will be sent a few days before the event.

For more information, please contact the Division of International Relations and Regional Development (Ms. Dina Athanasiou, T: 211 5006 104, E: ir@sev.org.gr).

Interviewer: Ms. Vicky Makrigianni, Senior Advisor ExportReady, SEV

V. Makrigianni: Your Excellency, we are currently trying to intensify bilateral relations with Hungary. A few weeks ago, we have organized, with your support, an informative event, together with our partners ACCI, SEVE and EG, to increase the awareness on Hungary. Which opportunities can Greek companies explore in the Hungarian market?

Ambassador: I believe there are always space for improvements in case of trade and investments. That is why we have organized a very successful business forum last year on the margin of the visit of Mr. Szijjártó, minister of foreign affairs and trade on the 1st of October 2021. 13 Hungarian and 42 Greek companies attended the event and 80 B2B meeting were conducted between Hungarian & Greek companies.
Greece has significant export opportunities in the Hungarian market in the field of industrial and pharmaceutical products, as well as in the agri-food sector. In addition, Greece is the second preferred tourist destination for Hungarian citizens.
Building on the experience of teleworking and distance learning, the government intends to prioritize digitalisation. Demand for related equipment and technology, administrative, banking and business solutions and applications is expected to increase.
In the field of tourism, hotels, restaurants have to meet increasingly strict health standards. Demand for “smart” solutions, equipment, technologies (e.g. smart thermometers, building hygiene solutions and agents) is expected to increase in this area. There are serious potentials in green/renewable energy sector as well.

Hungary is a bustling business hub situated right at the very heart of Europe; physically and in historical, geographical, cultural and economic terms, all destinations are within easy reach. Hungary is an open economy and particular emphasis is placed on encouraging foreign direct investment. Forty-five of the world’s 80 largest multi – nationals, and many of their SME suppliers, have established a long-term presence in Hungary, benefiting from the highly skilled workforce, access to world-class universities, an advantageous location, qualified suppliers, and from an advanced business infrastructure. Investors do not simply regard Hungary as an ideal production location, but also as a remarkable “advanced manufacturing & innovation centre” of Europe.

Companies based in Hungary are especially strong in the automotive industry, the biotechnology and the electronics sector, the services sector, and the food and agriculture industry. Famous domestic brands include pharmaceutical company Gedeon Richter, low-cost airline Wizz Air, and brewer Dreher, but there are also up and coming technology brands based in the country, such as presentation software company Prezi and architectural software developer Graphisoft. A number of significant multinational companies − including Citi, Suzuki, Siemens, Audi, Flex, Bosch, Nestlé and Coca Cola − have established their long-term presence in the country and benefit from the highly skilled and relatively inexpensive workforce, access to top universities (both in Budapest and the rural cities), advantageous location, qualified suppliers and excellent infrastructure, including ready-made industrial sites, offices and science parks.

V. Makrigianni: As you have previously mentioned, Hungary boasts a strategic location in Europe, easy access to EU markets, a highly skilled and educated workforce, and a sound infrastructure. Greece on the other hand, stands on the crossroads of three continents steadily strengthening connectivity with global trade lanes, improving port and logistics infrastructure, and providing an excellent level of financial and business services. Do you see investment opportunities in both countries and how we could increase the economic presence?

Ambassador: In 2020, mainly due to COVID our bilateral trade in goods decreased by 2.6% to 615.4 million compared to 2019, so definitely there is space for improvements.

Political stability and business friendliness make Hungary a top investment location in Europe. Hungary’s 9% corporate tax is the lowest in the European Union. The government has also reduced the tax burden on the gross salaries paid by employers from 28.5% in 2016 to 13% in 2022. According to the data of the Hungarian Central Statistical Office, Hungary’s real GDP growth rate in 2021 was 7.1%, unemployment is at 3.8%, and the overall economic outlook remains very positive.

Thanks to its excellent geographic location, Hungary serves as the ideal hub for businesses that connects the East to the West. With its central geographical location, Hungary also offers ideal conditions for both manufacturing and service activities, providing a close proximity to a 250 million market and the opportunity to deliver global services around the clock. The Transeuropean Transport Network offers a direct transport connection between Greece and Hungary. On the other hand, a high-speed train route is under construction from Budapest, through Serbia and North Macedonia to the Greek port of Piraeus, which will also facilitate transport between the two countries.

The Hungarian economy is moving up the global value chain. There has been a shift from labor-intensive to knowledge-intensive investments which is referred to as shifting from ‘Made in Hungary’ to ‘Invented in Hungary’. In line with this, the launch of high value-added business activities is preferred with special emphasis on R&D.

As far as sectors are concerned, automotive, electronics, including battery manufacturing, and food are the top industries that attract the most FDI to Hungary. Medical technology, logistics and ICT are among additional segments that have generated significant number of FDI projects by foreign investors. Hungary has become one of the leading international hubs for the Business Services Sector in Central and Eastern Europe, where more and more complex activities are carried out, including functions like R&D, engineering, product design or software development. In addition, there is an increasing emphasis on talent management, educational collaborations and innovative solutions. Hungary puts special emphasis on E-mobility with the aim of keeping its current position among the top three countries of EV battery manufacturing in Europe.

The Hungarian Investment Promotion Agency (HIPA) provides professional management consultancy services and information packages for companies interested in investing in Hungary. As a governmental agency, HIPA is in charge of providing necessary information about the Hungarian business environment, labor market, potential location possibilities, available incentives (cash and tax form) and information about potential local suppliers. Our goal is to support strategic investment decisions by providing accurate information and relevant advice as well as mediate between the government and the business sector to ensure common success. HIPA offers a wide variety of incentives to facilitate foreign direct investments and reinvestments by the enterprises.

V. Makrigianni: What is the most important factor for doing business in your country?

Ambassador: Investor friendly business environment, highly educated labour force and competitive incentive system: these are the factors that contribute to the success of companies, operating in Hungary. The Hungarian Government has been highlighting the role of innovation and research and development to enhance productivity growth and competitiveness. Promoting higher value-added activities and R&D projects has gained a significant role in the Hungarian investment promotion policy.

Thanks to the business-friendly policies of the Hungarian government and the intensive engagement of HIPA, Hungary saw a new record-breaking investment volume of EUR 5.9 billion in 2021, which shows the unprecedented level of investor interest for the country.

HIPA’s one-stop-shop business consultancy model assisting investors in every step of the way also ensures that tailor-made client services are provided prior to and following an investment decision. HIPA gathers the information needed for decision-making, mediates between government and business, helps to identify suitable local suppliers and supports further expansion plans.

Hungarian government has created an investment friendly environment for companies wish to enter to the Hungarian market.

Key reasons to invest in Hungary:

The unique advantages of the Hungarian branch can be summarized as favourable location, in addition to being located in the heart of Europe, it has excellent infrastructure as well, thus all European countries easily accessible within 2 hours, growing economy EU accession, technically qualified and highly skilled professionals with language knowledge at a reasonable cost. Hungary is situated in the heart of Europe, which makes the country optimal for manufacturing, services and logistics.

The Hungarian corporate income tax (‘CIT’) rate is a flat rate of 9%. There is no withholding tax, based on Hungarian domestic law, on any outbound payments (including dividends, interest, royalties, management fees) made to foreign business entities. Dividend received is exempt from CIT unless it is received from a CFC. In addition, Hungary operates a participation exemption regime for capital gain taxation purposes resulting in Hungary being a favorable holding location for company groups. Furthermore, a favorable group taxation regime is available for Hungarian taxpayers operating within the same company group as from 2019. In a nutshell, by opting for group taxation, group members’ positive tax bases can be offset up to 50% by other group members’ negative tax bases (or previous group tax losses) and group members can benefit from tax incentives together.

Hungary – as a member of the European Union – has harmonized its legal system with European law. New business associations may be established in several forms; however, the most common company form is the limited liability company (Kft.). In a simplified procedure, the registration of a Hungarian company can take place in 1-2 days, and the costs of company registration in Hungary are considered low in the European Union. One of Hungary’s economic advantages is the wide range of available incentives the Government offers to increase competitiveness.

V. Makrigianni: Thank you your Excellency for this fruitful and interesting interview.

The Athens Chamber of Commerce and Industry (ACCI), SEV Hellenic Federation of Enterprises and the Greek Exporters Association (SEVE), organize the informative event “Doing business in Romania”, on Thursday, April 27, 2023 at 13:00, at ACCI’s Headquarters (7, Akadimias str., Athens, 6^th floor), with the support of the Enterprise Europe Network (EEN-Hellas 2025) and Eurobank.

Interested businesses will be informed on the business opportunities the Romanian market presents, as well as the potential for greek products, in view of the planned Business Mission in Bucharest between June 7-9, 2023.

Please fill in the registration form here, by Tuesday, April 25, 2023.

The working language is English and Greek and registration prior to the event is needed. You can see the programme of the event here.

For further information, please contact: ACCI (International Affairs Department, tel.: +30 210 3382342, +30 210 3382466, email: excom@acci.gr ), SEV (Ms Dina Athanasiou, tel. +30 211 5006 104, email: ir@sev.org.gr) and SEVE (Ms Natassa Gialoglou, tel.: +30 2310 535333, email: ny@seve.gr).