Hungary was and remains an attractive market for Shared Service Center type of operations since we have very good professionals with strong language skills and work ethics, and besides, the flexibility of the labor market and the advanced infrastructure are also significant contributors to our strengths. Needless to say that these factors need to be combined with a competitive cost structure what we also found appropriate in this country. Attila Bukovszki, CEO, Citi Shared Service Center
The decision to select Budapest was as a result of a detailed location analysis conducted across a number of European cities. Selection criteria included suitable labor availability (population size and growth, skills and language availability), costs (labor and real estate) and risks (economic, political and social factors). Budapest offers a highly skilled and diverse workforce, with the broad language skills and the technical and customer facing skill sets we are seeking. Furthermore, it has an established and proven service industry track record recognized across Europe. Kevin James, Vice President of Business Services Transformation, BP Refining & Marketing Segment
“Omninvest is one of three possible sources the WHO might use for sera, the part of human blood that contains antibodies for fighting infection.” John Wood // virologist at Britain's National Institute for Biological Standards and Control, a WHO-affiliated laboratory
”It is worth investing in Hungary since, in the very recent years, Hungarian researchers have discovered two original molecules which are in development phase now.” Jean-François Dehecq WW CEO // Sanofi-Aventis
”In our world, safety and confidence in our products are essential. Teva is one of the world leaders in the generic pharmaceutical industry. Our European manufacturing centre is located in Hungary. At Teva, as in Hungary, maintaining good health is our primary goal.” András Rózsa, CEO // TEVA Hungary
“The continued advancement of our chemistry and technical research is the driving force behind the growth of the company. We thrive on innovation and from unceasingly moving the boundaries forward. This philosophy is ingrained in all areas of the company.” Ferenc Darvas, Ph.D. // President and Chairman of ThalesNano
"Hungary and Budapest was an obvious choice when Interstate Real Estate Developer PLC., the investor of the Ramada Resort – Aquaworld Budapest complex project decided to build one of the biggest indoor water theme
parks in Europe.
The country is literally fl oating on a sea of medicinal water. Since Roman times, the area has been scattered with baths and the healing power of thermal springs has been known for centuries. This exceptional gift of nature coupled with an excellent location, advanced infrastructure and lively business climate has encouraged our company to build the centre, a giant dome, fi ve storeys high and with a diameter of 72 m along the M0 Budapest ringroad, in a green area, yet close to the town centre. Through the project, our company assumes a signifi cant part in the development of the wellness market, a prospective world-leading industry, and it contributes to boosting the tourist appeal and competitiveness of Budapest."
Katalin Pfandler, President Aquaworld Hotel and Water Theme Park PLC.
"When CP Holdings invested into the Danubius Hotels Group, it was attracted to Hungary because of its impressive architecture, its healing natural thermal waters and mud, its good food and wine, its reputation for hospitality and its well educated people. With a fi ne site on the Danube, Budapest is a diamond in the heart of Europe and Hungarian spas are amongst the best in the world. In fact, Hungary has all the right ingredients for a successful hotel business, including MICE business, health spa, leisure and recreational tourism."
John Smith, Director, CP Holdings Ltd and Vice Chairman, Danubius Hotels Group
“It was in early 2008 that Cognizant, a Fortune 1000 company listed on the prestigious NASDAQ-100 and S&P 500 indices, came to engage with Budapest. In October 2008, we formally opened our delivery centre in the Hungarian capital, Cognizant’s first such centre in Continental Europe. The proactive assistance we have received from the Hungarian Investment and Trade Development Agency has been instrumental in the realization of our vision to set up operations in this country of rich history, initiation and technological know-how. Thanks to the vital support that ITD Hungary provided in terms of guidance on understanding the country and its economic and policy frameworks, building the necessary rapport with the local academia and industry, and setting up a delivery centre to boost local support of Cognizant’s European and multinational customers with a European delivery presence, kick-starting operations in a new geography never felt like a challenge. On behalf of Cognizant, I would like to thank ITD Hungary for their help and look forward to working with them again in the future.”
Farhat Nooruddin, Country Manager // Cognizant, Technology Solutions Hungary Kft.
“The accumulated knowledge in the field of business process technology and the stable infrastructural background helped us to make an easy decision. R&D plays a fundamental role in SAP’s life, because, from the point of view of both our clients and our company, innovation is the driving force of success. SAP Labs Hungary will contribute greatly to expanding the capacity of our SCM applications, enabling us to provide support to our clients, their business partners and their own clients in establishing the adaptive corporate networks of the future.”Claus Heinrich, Member of the Board // SAP AG.
“The choice of Hungary was due to positive experiences with the quality of its labour force and the country's political and economic stability.”
Jonathan Chenevix-Trench // President of Morgan Stanley International andEileen Murray // Head of Morgan Stanley Global Operations and Technology
“The unique advantages of the Hungarian branch can be summarized as
favourable location, all European countries easily accessible within two hours, a growing economy, EU accession, and technically qualified and highly skilled professionals with language knowledge at a reasonable cost.”
SV Mani // Head of TCS Hungary
Randstad
“Hungary's labour force of about 4.1 million is highly educated and highly skilled. The level of education is above the European average. About two-third of the workforce has completed some form of secondary, technical or vocational education. Foreign language skills are abundant, in particular among younger Hungarians. Hungarian workers are seen as flexible, highly motivated and very efficient. They are open-minded and keen to learn. Since the country’s EU accession, administrative requirements have been steadily reduced and brought into line with general EU standards. At the same time, labour costs are still significantly lower than the European average, which makes Hungary attractive for foreign investors. Hungarians are open to develop flexible work solutions, and Randstad wants to support them in this process.”
David van Gelder, General Manager // Randstad Hungary Ltd.
“The high level of foreign-language ability among graduates here is unique in Central and Eastern Europe. Since 1994 every high school or university student has been required to pass one or two state examinations in a foreign language before getting their degree. Therefore most students go to study languages abroad on a scholarship or attend private language schools during the school years to become proficient in one or two of the selected languages. The most common spoken languages are: English, German, French, Italian and Spanish.” Gabriella Ruff, Country Manager //Grafton Recruitment
