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Programs & Events 2009

Joint statement on transparency

November 18, 2009

This press release is being issued with the support of the Embassies of Belgium, France, Germany, Japan, Norway, Switzerland, The Netherlands, The United Kingdom and The United States. We represent countries whose companies provide the majority of Hungary's foreign direct investment.

As friends of Hungary who have witnessed its recent difficulties and its concerted efforts to tackle the effects of the global economic crisis, we look forward to the recent encouraging predictions of renewed economic growth in Hungary becoming a reality.

An important component of that predicted growth will reflect the decisions taken by current and potential foreign investors, many of whom come from the countries we represent. It is therefore with great concern that we hear of significant new instances of non-transparent behaviour affecting investors in such areas as public utilities, broadcasting, and elements of the nation's transport infrastructure. These reports could hinder the investment for which Hungary, like every other country, is competing.

As the global economy recovers, foreign investors will make their own decisions about where they will commit their resources. As friends of Hungary, we hope that the investment climate here remains one that makes the nation an attractive destination for those resources, rather than the opposite.

Transparency can be a critical competitive advantage. Passing, implementing and enforcing new anti-corruption legislation could be an important factor in helping meet the aspirations of Hungary’s citizens for renewed economic growth, and prosperity.