Regional Growth Good News For Hungary

Good news for the domestic economy came in the form of a recent report by the United Nations Conference on Trade and Development (UNCTAD) which shows that the new EU member states are attracting increasing amounts of global FDI. Hungary attracted US$ 4.2 billion of inward investment in 2004 (EUR 3.57bn), and inflows to the 10 new EU member states grew by 69% on the previous year, with Hungary the third-ranked recipient. The report also found that FDI is increasingly being channelled into higher-skills activities such as R&D, an area the Hungarian government has targeted with large tax breaks and

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