Even since joining the EU Hungary has received abundant business investment from its neighboring countries. The businesses that have made the most considerable investments are logistics and retail providers. Location is a factor here. Being the eastern boundary of the Schengen Part Hungary plays a pivotal part in the local distribution channels of CEE countries. Hungary is a widespread logistics center for goods from principal European seaports that are eastward bound. It’s the same for products en route for the west from growing industrial outsourcing hotspots. The country is fast growing into an essential junction for circulation as regards CEE logistics.
The Hungarian Industry Has Received A Boost Ever Since It Became A Part Of EU
It was in 2004 that Hungary joined the EU. From that time, there’s been a massive arrival of global distributors in Hungary. As for the general buyer, the retail business of the country has got a boost from retail giants in the UK and France.
Hungary Has Become The Winning Recipe Of Inter modal Solutions
It isn’t just the retail market, of the country that has got a boost. Hungary’s logistical effectiveness lets global distributors make their way into the more extensive CEE marketplace. This especially holds for Western European countries.The European countries that have close associations with Hungary make it a common transit place for East-West freight forwarding.
Hungary Helps In The Passing Of Goods Among States Of Schengen Area
As of now, Hungary lets the free flow of products and traffic among member states of Schengen Area. Goods coming in from Hong Kong at ports in Germany and Slovenia are unloadable and clearable through customs on site. They are subsequently loaded onto trains or trucks for Budapest with no further stoppage.
Hungary Boasts Of A Good Network Of Roads
Now, Hungary ranks third in terms of road density among Europe nations. This lets easy access to several parts of Hungary and the neighboring countries. The rail network of Hungary also has experienced extension and reorganization and the modernizing continues.
More Logistics & Warehouse Parks Are Being Built
There has been a rise in the amount of products coming into Hungary from Asia. Thus, there has been the development of 30 contemporary logistics & warehouse parks of some 1.3 million sqm. This project has been done around Budapest and mainly down the length of the M0 ring road. A logistics company in Hungary that has made significant progress in Hungary is Europa-Road Kft. Hungarian news sites state Europa-Road Kft. is a very important player of international haulage ( in local language: “nemzetközi fuvarozás”).
Hungary is going to keep on playing a leading part in the realm of local delivery in CEE. A result of this is the greater reach of Hong Kong companies. They will have more chances of reaching the CEE buyers living far off the sea shore within the specified time.