Hungary’s Global Players – A Strong Presence in their Neighbourhood in 2009

Sass, M. – Kovács, O. (2011): Hungary’s Global Players – A Strong Presence in their Neighbourhood in 2009. In: Sauvant, K. P. – Govitrikar, V. P. – Davies, K. (ed.) (2011): MNEs from Emerging Markets: New Players in the World FDI Market. Vale Columbia Center, Columbia University, New York, pp. 119-142

The report includes a ranking of Hungarian multinationals based on their foreign assets. The 19 multinationals ranked held almost USD 22 billion in foreign assets in 2009. The top-ranked firm, MOL Group (including TVK, majority-owned by MOL), accounted for more than USD 19 billion, or almost 89%, of these assets. The top 19 companies together registered foreign sales of more than USD 10 billion in 2009 and employed more than 40,000 workers abroad. In 2009, Hungary was the 21st outward investor in terms of FDI stock among emerging markets and the 22nd largest in terms of outward FDI flows, well below the BRIC countries, but a large investor among the New Member States of the European Union. Outward investment by Hungarian companies went primarily into oil and gas exploration and production (mining and quarrying), chemicals and pharmaceuticals. Other investment areas included transport, plastics production, building materials, electronics, food products, and IT and other services. The 19 companies on the list have 149 affiliates in 32 countries, with a strong concentration in Europe, mainly in Central and Western Europe (115 affiliates). These are mainly located in neighbouring or geographically close countries, such as Romania (23 affiliates), Slovakia (16), Germany (15), Poland (12) Czech Republic (11), Bulgaria (8) or Ukraine (7).