Home Blog

HIGHLIGHT: Promoting American-Hungarian economic relations with the help of the chambers

HIGHLIGHT: Promoting American-Hungarian economic relations with the help of the chambers

In April this year, a delegation of American businessmen visited Hungary for the second time. In addition to their mission the 20-person business delegation of the Commerce and Industry Association of New Jersey, a representative of the legislature of the New Jersey Senate also visited and meet Hungarian government officials, promoting the importance of business relations. The delegation, together with New Jersey Senator Gordon M. Johnson, was welcomed by Deputy Minister Levente Magyar.

On the Hungarian side, the Ministry of Foreign Trade and Foreign Affairs participated independently in the high-level official meetings and its sub-organizations, the Hungarian Export Promotion Industry (HEPA) and the Hungarian Investment Promotion Agency (HIPA), demonstrated separately as well. The business negotiations were constructive and concrete results were achieved in the protocol room of the Ministry of Foreign Trade and Foreign Affairs.

On behalf of the American Hungarian Chamber of Commerce, Prof Dr Martin Zsarnoczky PhD President, The Commerce and Industry Association of NJ President Anthony Russo, The Commerce and Industry Association of NJ, Vice-president Kathleen Agudo, Aladar Komjathy and New Jersey Senator Gordon M. Johnson told Levente Magyar, Parliamentary State Secretary and Deputy Minister at the Ministry of Foreign Affairs and Trade, that they would like to return to Hungary as soon as possible, as the economic relations between the USA and Hungary show further development opportunities.

All members of the US business delegation that arrived in Hungary stated that the revitalization of American-Hungarian economic relations is a real opportunity and their priority.

US-Hungarian trade relations continue to growing: CIANJ delegation visited Hungary

US-Hungarian trade relations continue to growing: CIANJ delegation visited Hungary

At the invitation of the American Hungarian Chamber of Commerce in New York (AmHunCham), The Commerce and Industry Association of New Jersey (CIANJ) visited Hungary.The delegates were represented by Anthony Russo, President of CIANJ, and Dr. Martin Zsarnóczky, President of AmHunCham, and Tamás Barát, Honorary President of AmHunCham.

The four-day joint event organised by AmHunCham, which is basically a study tour, offered a very varied and special programme of activities for the chamber representatives. The AmHunCham excellently organised the activities for each day, and as part of the first day’s sightseeing tour of Budapest, the delegation worshipped Holocaust memorials on April Holocaust Remembrance Day in Hungary.

The sightseeing tour tried to show the American delegation almost all the main, pedestrianised points of Budapest’s city centre. The event ended with a great boat trip.

The following day, the event was followed by a visit to Debrecen, where the CIANJ representatives were introduced to domestic investment opportunities, especially in Debrecen, in a series of comprehensive and detailed presentations.

On the third day, the CIANJ delegation was again in Budapest, where the opportunities offered by the Hungarian Export Agency (HEPA) and the Hungarian Investment Promotion Agency (HIPA) were presented.

Afterwards, the delegates visited the Parliament where Istv√°n Jakab, Vice President of the Parliament, received the members of the Chambers.

After a full day of activities, the team needed some physical and mental refreshment, so the closing event was based on the theme of Teqball, a very interesting and unique sport; the participants were able to get up close and personal with the technical details and, last but not least, this stage of the event provided another excellent business alternative.

The special highlight of the last day was an unique meeting. The 20-person business delegation of the Commerce and Industry Association of New Jersey, a representative of the legislature of the New Jersey Senate also visited and meet Hungarian government officials, promoting the importance of business relations.

On the Hungarian side, the Ministry of Foreign Trade and Foreign Affairs participated independently in the high-level official meetings and its sub-organizations, the Hungarian Export Promotion Industry (HEPA) and the Hungarian Investment Promotion Agency (HIPA), demonstrated separately as well. The business negotiations were constructive and concrete results were achieved in the protocol room of the Ministry of Foreign Trade and Foreign Affairs.

On behalf of the American Hungarian Chamber of Commerce, Prof Dr Martin Zsarnoczky PhD President, The Commerce and Industry Association of NJPresident Anthony Russo, The Commerce and Industry Association of NJVice-president Kathleen Agudo Aladar Komjathy and New Jersey Senator Gordon M. Johnson told Minister Levente Magyar that they would like to return to Hungary as soon as possible, as the economic relations between the USA and Hungary show further development opportunities. All members of the US business delegation that arrived in Hungary stated that the revitalization of American-Hungarian economic relations is a real opportunity and their priority.

Last but not least: afternoon was concluded with a business forum organised jointly with the BKIK, where the leaders of BKIK, AmHunCham, AmCham and of course the CIANJ delegation participated in a round table discussion. The event was open to all those interested in some form of networking and partnership business opportunities – for them the forum provided an ideal space for full interaction and B2B networking after the presentation.

Positive development in Hungarian-American business relations

Positive development in Hungarian-American business relations

At the most significant public Hungarian-American economic event in recent times, the Republican and Democratic Senators of the State of New Jersey will hold a roundtable discussion with leaders of Hungarian foreign economic institutions, organized by the Hungarian American Chamber of Commerce and the Budapest Chamber of Commerce.

The event will be highlighted by presentations on trade relations between the two countries by representatives of the New Jersey Association of Commerce and Industry (CIANJ) and the New Jersey Legislature. Following the presentations, the organizers will provide business consultation opportunities for the representatives of Hungarian companies present in person, directly with the members of the US delegation and speakers.

The joint event of the Hungarian American Chamber of Commerce in New York (AmHunCham) and the Budapest Chamber of Commerce and Industry will take place on April 27 at the M√°rai S√°ndor Cultural Center, from 2:00 PM, focusing on the opportunities for entering the US market and starting a business in the US.

Dr. Martin Zsarn√≥czky, President of the Hungarian American Chamber of Commerce in New York and √Ād√°m Balog, Vice President of the Budapest Chamber of Commerce and Industry, will be on TV2 to discuss the state of Hungarian business relations in the US and the expected results.

AmCham Business forum with Gergely Kar√°csony, Mayor of Budapest

AmCham Business forum with Gergely Kar√°csony, Mayor of Budapest

On the occasion of the 150th anniversary of the capital of Hungary, AmCham organized a successful business forum with the participation of Mayor Gergely Kar√°csony. Both the current visions and Budapest 2030 concepts were discussed at the event.

The New York-based American Hungarian Chamber of Commerce also participated as a guest at the business forum. Dr Martin Zsarnoczky, the President of AmHunCham, acknowledged the achievements of the Capital City so far in the question section following the presentation and drew attention to the importance of the sudden change in international economic processes, which should feature prominently in the new Capital Program coordinating business activities called Budapest Global.

Budapest Global is an independent platform that enables long-term cooperation between Budapest’s leading organizations to come up with solutions to urban challenges that affect everyone. The task is to build a coalition between the public, private, and civil spheres so that they can use their leaders, experts, and resources in the direction of impact-driven projects and partnerships.

Thank AmCham for the program and for inviting us!

More information and media about the event:

https://www.amcham.hu/events/own-events/business-forum-gergely-karacsony-mayor-budapest
https://www.amcham.hu/events/gallery/business-forum-gergely-karacsony-mayor-budapest-0
https://www.amcham.hu/sites/default/files/inline-files/AmchamKG_prezentacio_0418.pdf
https://budapestglobal.org/

Event Highlight: Visit of New Jersey Delegation to Budapest, Business Forum and B2B meetings

Event Highlight: Visit of New Jersey Delegation to Budapest, Business Forum and B2B meetings

Once again, the American Hungarian Chamber of Commerce in New York is organizing a special and very important event with the Budapest Chamber of Commerce and Industry.

The event will be without a doubt the most significant public press event of the retrospective period in the Hungarian-American Chamber of Commerce, and will feature a roundtable discussion between the Republican and Democratic Senators of the State of New Jersey and the leaders of the Hungarian foreign economic institutions.

This will be followed by presentations on trade relations between the two countries by representatives of the New Jersey Association of Commerce and Industry (CIANJ) and New Jersey City University (NJCU).

After the presentations, business representatives who are present in person will have the opportunity to consult with members of the delegation and speakers from CIANJ and NJCU.

Detailed programme:

01:20 PM Registration

02:00 PM Welcome speeches

Elek Nagy, President of the Budapest Chamber of Commerce and Industry
Levente Magyar, Minister of State of the Ministry of Foreign Affairs and Trade (by invitation)
under invitation)
Neil Pickett, Senior Counselor, Embassy of the United States of America in Hungary
Dr. Martin Zsarnóczky, President of the Hungarian American Chamber of Commerce in New York
02:20 PM Crisis-resistant business concepts from New Jersey
Keynote speaker: Senator Gordon Johnson (New Jersey)
02:20 PM Roundtable discussion with New Jersey State Senators, representatives of US institutions and heads of foreign trade institutions in Hungary (Q&A)

from the US side:

Gordon M. Johnson, Democratic Senator in the New Jersey State Senate
Holly Schepisi, Republican Senator from the New Jersey State Senate
Neil Pickett, Senior Counselor, Embassy of the United States of America in Hungary
Anthony Russo, President of CIANJ (New Jersey Association of Commerce and Industry)
Dr. Martin Zsarnóczky, President of AmHunCham (Hungarian American Chamber of Commerce of New York)

from the Hungarian side:

Elek Nagy, President of BKIK
G√°bor Jenei, Deputy CEO of HEPA
István Joó, CEO of HIPA
Kornél Kisgergely, CEO and President of Exim
Zoltán Szabó, President of AMCHAM in Hungary

03:30 PM How do US experts see the development of trade between the two countries?
Anthony Russo, President of CIANJ (New Jersey Association of Commerce and Industry)
David Weiss, Professor at NJCU (New Jersey City University)

04:00 PM Networking coffee break/organised B2B meetings

The language of the event is English, without interpretation.

CONDITIONS OF PARTICIPATION

Participation is free of charge but registration is required. The event is limited to a limited number of participants in person, which will be judged on a first-come, first-served basis. Unlimited access to the online interface will be granted. A zoom entry link will be sent the day before the event. You will be able to book an appointment for the B2B meetings at the event venue.

Registration deadline: Tuesday 25 April 2023, 03:00 PM

To apply, click on the link below:

Register for the event!

Date: Thursday, 27 April 2023, 14.00.
Location: Márai Sándor Cultural Centre (1013 Budapest, Krisztina tér 1., 1st floor)
Organizers:Budapest Chamber of Commerce and Industry, Hungarian American Chamber of Commerce in New York (AmHunCham)

The program is subject to change without notice.

2023 SelectUSA Investment Summit: Commerce Secretary Gina Raimondo Announces Speaker Lineup

0
2023 SelectUSA Investment Summit: Commerce Secretary Gina Raimondo Announces Speaker Lineup

Last week, the U.S. Department of Commerce and SelectUSA announced the lineup of global executives, business leaders and U.S. government representatives who will address participants at the 2023 SelectUSA Investment Summit from May 1-4 in the Washington, D.C. area.

Hosted by U.S. Secretary of Commerce Gina Raimondo, notable speakers presenting at the conference include White House Senior officials, Cabinet members, U.S. governors, thought leaders and C-suite executives from U.S. and global companies.

‚ÄúFor over a decade, the U.S. has ranked as the top destination for international companies to set down roots and achieve their expansion goals,‚ÄĚ said Secretary Raimondo. ‚ÄúThe United States‚Äô diverse landscapes, vast resources, skilled workforce, and spirit of innovation and entrepreneurship are just a few of the reasons why investors choose to settle here. I look forward to another SelectUSA Investment Summit, focused on celebrating our FDI accomplishments, deals across all 56 states, territories, and District of Columbia, and the exchange of knowledge between public and private sector leaders.‚ÄĚ

U.S. Government representatives joining Secretary Raimondo include Secretary of State Antony Blinken and Secretary of Energy Jennifer GranholmWhite House National Economic Council Director Dr. Lael BrainardWhite House CHIPS Coordinator Dr. Aaron ChatterjiWhite House Senior Advisor and Infrastructure Implementation Coordinator Mitch Landrieu, and President and Chair of the Export‚ÄďImport Bank of the United States, Reta Jo Lewis.

Also confirmed to attend are governors from the following states and territories:

  • American Samoa Governor Lemanu P.S. Mauga
  • Arizona Governor Katie Hobbs
  • Commonwealth of Northern Mariana Islands Governor Arnold Palacios
  • Delaware Governor John Carney
  • Guam Governor Lou Leon Guerrero
  • Indiana Governor Eric Holcomb
  • Kansas Governor Laura Kelly
  • Massachusetts Governor Maura Healey
  • Michigan Governor Gretchen Whitmer
  • Puerto Rico Governor Pedro Pierluisi
  • U.S. Virgin Islands Governor Albert Bryan

The SelectUSA Investment Summit will be a platform for never-before released announcements by foreign investors, detailing their investment and expansion plans in the United States.

Confirmed speakers include:  

  • Anish Shah, Managing Director & Chief Executive Officer, Mahindra Group
  • Revathi Advaithi, CEO, Flex
  • Megan Myungwon Lee, Chairwoman & CEO, Panasonic Corporation of North America
  • Andrea Albright, Executive Vice President for Sourcing, Walmart
  • Kelvin Huang, President North America, Delta Electronics
  • Wayne A. I. Frederick, President, Howard University

The United States has been ranked as the top destination for foreign direct investment for the eleventh consecutive year according to Kearney‚Äôs Global Business Policy Council‚Äôs 2023 Foreign Direct Investment (FDI) Confidence Index.

The SelectUSA Investment Summit is the highest-profile event dedicated to promoting foreign direct investment (FDI) in the United States. More than 70 international markets have registered for this year‚Äôs event. The Investment Summit has directly generated more than $80 billion in new U.S. investment projects, supporting over 61,000 jobs across the United States and its territories. Historically, the Investment Summit attracts more than 1,200 business investors from approximately 75 international markets who join economic development organizations (EDOs) from almost all U.S. states and territories.

A full list of confirmed speakers and the current agenda for the 2023 SelectUSA Investment Summit is available online at www.selectusasummit.us

New York, New Jersey and Philadelphia Study Tour organized by the American Hungarian Chamber of Commerce

New York, New Jersey and Philadelphia Study Tour organized by the American Hungarian Chamber of Commerce

In 2023, Select USA Summit Spin-off Study Tour program will be held for the first time, a remarkable event that creates a long-time tradition. Within the framework of a few-day Study Tour program put together by the New York-based American Hungarian Chamber of Commerce, those Hungarian businessmen who are visiting Washington D.C. between May 1-4 can get to know first-hand the entrepreneurial environment of Philadelphia, New Jersey and New York in the days following the Summit.

The AmHunCham Study Tour program that follows the Select USA Summit event and builds on it is unique in its base idea, as several spin-off events are held in the United States of America, but at the same time, this type of customized program for Hungarian entrepreneurs has never been held before. The American Hungarian Chamber of Commerce is proud of the proactive role it plays first and for the promotion of bilateral American-Hungarian business relations.

The Study Tour program, which will be held between May 4-8 2023, consists of several program parts. On May 4, participants can learn about the activities of several Philadelphia innovation centres and the operation of local business development incubators. On May 5, business opportunities in the states of New Jersey and New York, useful guides on starting a business, and soft landing services provided by the American Hungarian Chamber of Commerce will be available at various locations. The participation fee for the self-funded Study Tour is USD 1,490 per person, which includes all accommodation and transportation costs.

During the first wonderful weekend of May, participants on the Study Tour have the opportunity to participate in several independent optional programs. The purpose of the optional program is for the participants to experience first-hand the multicultural entrepreneurial environment and the opportunities offered by the urban metropolis of New York City as a quality pastime.

On Monday, May 8, the Hungarian Consulate General in New York will provide a venue for the public assembly of the American Hungarian Chamber of Commerce, after which the attendees will have the opportunity to meet both the Consul General and the Foreign Trade Attach√©s in person as part of a B2B event. At the end of the Study Tour event, a media workshop will be held, in which participants can document their preliminary expectations regarding the one-week Select USA Summit and the Study Tour, their desired business ideas and their visions for future business success. The workshop will be stored as a kind of media time capsule, and after a few business years, it will surely become a useful, so-called ‚Äětime-proofed‚ÄĚ document for the participants.

Dr Zsarn√≥czky Martin, the president of the American Hungarian Chamber of Commerce, shared about the organization that the chamber is going through a very busy period in terms of promoting bilateral business relations. The Budapest Chamber of Commerce and Industry and the Trade Department of the American Embassy have proven to be excellent cooperating partners in the past period. In October of last year, and in February of this year, very popular and sold-out events took place in Budapest, which were followed by an extremely positive response to AmHunCham’s activities among domestic entrepreneurs. In April, a delegation of businessmen from the state of New Jersey will arrive to examine several investment opportunities in Hungary. That is why he encourages the mutual growth opportunities of domestic businesses in the American market, since joining the world’s largest economy, due to today’s unpredictable external circumstances, is almost equivalent to a lottery jackpot.

More information can be found in the downloadable document. The American Hungarian Chamber of Commerce welcomes all interested parties!

Preview of SelectUSA Investment Summit (Maryland, May 1-4, 2023)

Preview of SelectUSA Investment Summit (Maryland, May 1-4, 2023)

AmHunCham like to draw your attention to the upcoming SelectUSA Investment Summit, held in-person in the Gaylord National Resort & Convention Center in National Harbor, Maryland between May 1-4, 2023.  The US Embassy is already accepting applications to participate in the official Hungarian delegation to the SelectUSA Investment Summit (www.SelectUSASummit.us).

This summit ‚Äď which reached record-breaking numbers with over 3,600 participants in 2022 ‚Äď offers international attendees the contacts, information, and resources needed to streamline their U.S investment.  As part of the delegation, participants can:

SelectUSA Tech for start-ups:

Opportunities for high-growth international technology companies that are less than 10 years old, with up to $10 million in revenue, and up to 40 employees are also available through the SelectUSA Tech program for a discounted rate. It connects early-stage and startup technology companies to prospects for advancement in the U.S. market. Pitching Applications are now live. Please note that only companies approved to attend the 2023 SelectUSA Investment Summit under the SelectUSA Tech program are eligible to participate in the pitching sessions. The deadline to apply to pitch is March 24.

Guidance to U.S. Market Entry – our short film about the event on 7 February 2023

Guidance to U.S. Market Entry – our short film about the event on 7 February 2023

AmHunCham and BKIK hosted the first Select USA business seminar in Hungary entitled Guidance to U.S. Market Entry. How to enter the U.S. market?

Please watch our short film about the event!

American Hungarian Chamber of Commerce supports Women’s Economic Empowerment

0
American Hungarian Chamber of Commerce supports Women’s Economic Empowerment

March 8th is International Women‚Äôs Day, which was established to fight for women‚Äôs rights worldwide. 

Today, only 6.6% of Fortune 500 companies have women as their CEOs. 40% of people believe there is a double standard against women, and only 23% of C-suites are made up of women. Women‚Äôs empowerment and advancement matter to corporate success: Companies with diverse leadership are 35% more likely to outperform their competitors. 

They are 70% more likely to capture new markets. Leadership teams are 87% better at making decisions, and companies with diverse leadership enjoy 19% higher revenue. Building on the Biden-Harris Administration‚Äôs National Strategy on Gender Equity and Equality to advance the full participation of all people ‚Äď including women and girls ‚Äď in the United States and around the world, Secretary of Commerce Gina M. Raimondo announced an initiative promoting the role of women in international business and trade called EMPOWER HER. On behalf of the American Hungarian Chamber of Commerce Prof Dr Martin Zsarnoczky PhD President was signing a DECLARATION and recognize EMPOWER HER as a first step for a better future in the following areas: #COMMITTING #INVESTING #PROMOTING #IDENTIFYING #ADVOCATING #SHARING #SUPPORTING The American Hungarian Chamber of Commerce is proud to take a huge effort for gender equality and diversity all around the world.

All our colleagues at AmHunCham, including all our members, are recognizing the contribution of women around the world and the importance of an equal and equitable environment for women to thrive as leaders, entrepreneurs, and innovators.