Government Steps Had Much to Do with Advance on Doing Business list

Reforms carried out by the government in the past two years had much to do with Hungary's nine-spot advance in the World Bank's latest Doing Business ranking.

Alba Airport Gets Go-ahead

Hungary's building authorities have given the green light for the start of construction at the Alba Airport, near Szekesfehervar.


Kopint-Tarki Lowers Growth Forecast for 2009 to 2.8 pct

Economic think tank Kopint-Tarki has kept its projection for Hungary's 2008 GDP growth unchanged at 2.2 pct, but lowered its projection for 2009 growth to 2.8 pct in its latest forecast, down from 3.0 pct in the previous one published in June.


State Investment Agency Looks for Alternative Sites for Apollo Tyres Plant

The Hungarian Investment and Trade Development Agency (ITDH) has started looking for sites for a new EUR 200 million factory which India's Apollo Tyres wants to build in Hungary, the Ministry of National Development and Economy said on August 15th 2008.

Suzuki Turns Out One-Third More Cars at Hungary Plant

Japanese carmaker Suzuki turned out 149,438 vehicles at its plant in Hungary in the first half of the year.

Pfizer Could Pick Hungary for USD 30 m R&D Centre

US pharmaceutical giant Pfizer could set up a USD 25-30 million R+D centre in the Hungarian city of Szeged, business daily Vilaggazdasag reported on August 1st 2008. Pfizer Hungary managing director Mario Gattino told the paper that the unit had submitted an application to host the centre in July.

Nitrokemia to Build EUR 170.2 m Lactic Acid Plant in Hungary

Hungarian chemicals company Nitrokemia plans to build a HUF 40 bn (EUR 170.2 million) lactic acid plant in Balatonfuzfo in North-West Hungary, the company announced at the site on July 31st 2008.

MOL Sets up Geothermal Energy Company With International Partners

Hungarian oil and gas company has set up a geothermic energy producing company with Icelandic company Enex and Australian company Green Rock Energy International, MOL announced on the website of the Budapest Stock Exchange on July 30th 2008. The joint venture, CEGE Central European Geothermal Energy Production Private Company will have even shares held by the three founders.

Apollo Tyres Sees Delay in Start of Production in Hungary

India's Apollo Tyres sees production at a plant it is building in Hungary starting later than expected due to delays in acquiring land and regulatory permits, Reuters reported on July 31st 2008, citing a spokeswoman for the company. The plant was to have started production in June 2009. Now, because of regulatory delays, production will start in June 2010 at the earliest, Kankana Das told Reuters.

News Monitoring