Tower Rentals Budapest

World Bank: Hungary Becoming a Better Place to do Business

The environment to do business has improved in Hungary, according to the latest Doing Business report of the World Bank, published in September. Hungary advanced by nine places on the table to 41st out of 181. The areas Hungary made progress in were Starting a Business, Registering Property and Enforcing Contracts. Hungary cut the time required to register property from 63 to 17 days by opening a new property registration office in Budapest and increasing cooperation among government agencies. It also reduced the minimum capital requirement to start a business by around 80%. Hungary scored best in Enforcing Contracts (12th), beating the whole of CEE, except for Latvia.

 

Porsche to Open First Hungarian Dealership

Germany-based luxury car maker Porsche is to celebrate the brand's 60th anniversary by opening its first dedicated salon on the Buda side of the Hungarian capital early next year. Although car dealer Porsche Hungária (executive retailer of the Porsche, Audi, Seat, Skoda and VW brands) is one of the market leading dealers in Hungary, this will be the first dealership dedicated exclusively to the Porsche name in Hungary. The dealership will total 1,800sqm, of which the salon and customer area will take up some 560sqm, the company said. This area will boast the whole range of the Porsche brand, some 11-12 premium cars and SUVs.

 

EUR 100 m Airport Construction to Begin near Budapest

Hungarian authorities have issued the final permit for the construction of a new airport 60 kilometres of Budapest, near Székesfehérvár. Alba Airport could be a viable alternative to the capital city's Ferihegy International Aiport. The builders expect total costs to be around HUF 20-25 billion (EUR 83-104 m).

 

Icelandic Company Launches EUR 25 m Printing House

Icelandic-owned Inforpress Group (IPG) has completed the construction of a HUF 6 billion (EUR 25 m) printing house in Vác, 34 km north of Budapest. The project took IPG eight months from start to finish and the facility, with annual capacity of nine billion pages, is already producing.

 

GS sees Hungary joining eurozone by 2013

All of the Central European EU members - including Hungary - could join the eurozone by 2013, according to investment bank Goldman Sachs. In an evaluation of Hungary's prospects, Goldman Sachs London-based analysts said if the 2009 budget with the 3.2%-of-GDP general government deficit target is successfully pushed through, and if inflation continues to slow, Hungary could join the ERM-2 sometime in 2009. Even if ERM-2 membership is to happen in the second-half of the year or in early 2010, that would open the way to euro introduction in 2013.

 

Ramada Resort & Aquaworld Budapest Opening

Ramada Reort - Aquaworld Budapest is set to open its doors this fall. The water empire will be Central Europe’s biggest indoor water theme park: 11 slides, 17 pools, surf pool, which is extraordinary even in Europe and further amusement elements will make the complex unique among the touristic attractions of Hungary. Ramada Resort – Aquaworld Budapest is a four-star superior conference and wellness hotel, it has 309 rooms, suites and apartments; a conference center with a capacity of almost 1000; a spa, wellness and fitness unit; various restaurants and an entertainment center.

 

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