• COVER PAGE

  •  INTRODUCTION

  •  EUROPEAN
     CHAMPION:
THE UNITED KINGDOM

  •  THE RUNNER-UP:
      FRANCE

  •  GERMANY GRABS
      THIRD PLACE

  •  BELGIUM, NO. 4

  •  POLAND TAKES
      FIFTH PLACE

  •  IRELAND, NO. 6

  •  HUNGARY TAKES
      SEVENTH PLACE

  •  SPAIN, NO. 8

  •  THE NETHERLANDS
      RECORD BREAKING
      YEAR

  •  AUSTRIA ROUNDS
      OUT THE TOP 10

The first country in the former East Bloc to start the long drive down the road toward a market economy, Hungary has come far.

Its mid-1990s economic stabilization program to streamline government, reform taxation and reduce debt have meshed with the country's geographic location, skilled labor and other advantages to produce a top competitor in the chase for new business. Now, Hungary, like Poland, is looking forward to gaining EU membership.

Besides an impressive No. 7 ranking overall in 1998's facilities race, Hungary also posted the No. 2 performance in attracting new manufacturing plants. Its 47 new factories were more than in any other country except the United Kingdom.

Among Hungary's larger recent new manufacturing investments are Elcoteq's $29 million electronic components plant, Tredegar Film Product Kft's $24 million polyethylene factory and Zimbo's $72 million meat processing plant. But a host of globally familiar names such as Coca-Cola, General Electric and IBM have also established a manufacturing presence.

Most companies come to Hungary with an eye toward its export potential. The country's population is just 10.5 million, but approximately 240 million people live within 622 miles (1,000 km.) of Budapest. For more information on location opportunities in Hungary, visit the Hungarian Investment and Trade Development Agency's Website at www.itd.hu/english.