Automotive Sub Supply
Computer & Related Hardware
Construction & Built Enivironment
Educational Services
Electronics
Environment & Energy
Industrial & Process Control Equipment
Lifesciences
Retail Chains and Hypermarket Expansions
Software for Banking and Insurance
Telecommunications
Automotive Sub Supply
Hungary and Romania have developed significant automotive sectors with companies such as Audi, Suzuki, Opel and Renault having made large-scale investments. This is supplemented by a number of indigenous producers of heavy vehicles in both countries. In addition to car production by Suzuki, Audi and Dacia-Renault, Hungary is a centre for engine manufacturing, with 2m engines produced per annum. A strong core of Tier 1 and 2 suppliers also exists in Hungary including Robert Bosch, Continental, Visteon and Valeo, among others. Major new investments in the region include Daimler's Mercedes-Benz plant to be established in southern Hungary and Ford's acquisition of the former Romanian Daewoo plant.
Computer & Related Hardware
In Hungary MNC investment drives trade turnover with Ireland and it is a feature of the region that it is catching up in technology with a lack of legacy equipment. Opportunities exist in sub-sectors such as:- wireless infrastructure; smart cards infrastructure; healthcare automation and systems; electronic purse; electronic signature technology; technology for border protection and immigration. Servicing Hungarian, Romanian or Bulgarian manufacturing plants will largely require a local presence as the pressure for locally-based suppliers is strong.
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Construction & Built Environment
Romania represents one of the world's fastest-growing construction markets, with demand for development across all sectors - residential, commercial, leisure, public sector and infrastructural. Foreign and local developers are active, including Irish investors, creating demand for architectural, engineering, project management services, and niche building products. In Bulgaria, road building will be a major priority in coming years.
For the opportunity to see how you can connect with and benefit from the Irish construction Industry, click on Ireland Construct
Educational Services
English is very much the language of international business in Hungary and Romania. As such there is a market for language schools. E-learning is also a growth area, particularly with a large multinational sector and a growing number of shared service centres in the region. Public sector reform in the region usually includes e-government, computer literacy improvement, and distance education.
For more information on Studying in Ireland
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Electronics
Central Europe is now a major centre for OEM and CEM electronics manufacturing; Hungary is a well-established electronics producer, whilst Romania and Bulgaria represent lower-cost options for volume manufacturing, especially Romania. Major electronics manufacturers include Nokia, GE, Samsung, Philips, Electrolux, Robert Bosch, Flextronics, Jabil and Foxconn. Supplying product or services to these multinationals requires strength in a niche, global service/partnering with the parent and local presence in the market.
Environment & Energy
The requirements to comply with EU directives plus strong construction and built environment development in the region create market opportunity for companies in environmental services, waste management/treatment and cleantech. Areas like wastewater treatment for smaller cities, towns and villages, landfill and site remediation, and waste management are a particular priority, often supported by EU funds. Operational Programmes for environment and infrastructure, plus Regional Development plans under each country's National Development Plan will be key roadmaps for investment in these areas.
Targets for the proportion of renewable energy plus newly-adopted legislation which creates the pricing structure in each market are now in place; there is a short window of opportunity until around 2010 when a significant number of renewable projects including wind and solar energy will go live in the region.
Environmental awareness is essential, for more information on how Ireland assists SME's see envirocentre
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Industrial & Process Control Equipment
The countries' large industrial bases and the pressure to modernise rapidly have been creating opportunities in a broad sector of industrial & process control equipment. Continuing investment in manufacturing sites by multinationals is also creating sales opportunities. Sectors of interest are in food, beverages and process manufacturing.
Lifesciences
Hungary has a strong legacy as a centre of pharmaceutical excellence, and is seeing continuing investment in manufacturing and development sites, through companies like Richter Gedeon, GlaxoSmithKline, Teva and other multinationals, which are active across the region. There are opportunities for process skills, process and control equipment and services related to R&D. There may also be opportunities in automating healthcare delivery in the region.
To learn more about and source key products in the healthcare sector in Ireland see medinireland
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Retail Chains and Hypermarket Expansions
The rapid growth in consumer spending in Hungary, Romania and Bulgaria has made the mass-retail market attractive to western retail chains and suppliers to the retail industry. Most of the big multinational retail chains such as Tesco, Carrefour, Interspar and Ikea are established in these countries. Branded products are sought after and are often similarly priced to western markets.
In Romania and Bulgaria there is also a phase of development and construction of modern retail outlets and shopping centres, representing an opportunity in construction products and services.
Software for Banking and Insurance
The banking sectors in Hungary is relatively well developed, with Romania seeing rapid consolidation as multinational banks acquire the remaining domestically-controlled banks. The development of the financial services industries in these countries creates further opportunities.
Companies providing application software with relevant reference sites and products with proven value for money can find customers. As the majority of financial institutions are foreign-owned, the decision-making responsibility will vary, so suppliers need to target both local and global or regional headquarters.
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Telecommunications
Hungary, Romania and Bulgaria offer a series of niche opportunities for Irish providers of software applications. Whilst the mobile markets are mature, mobile data and mobile internet are growth areas. The operators including Vodafone, T-Mobile, Orange and Cosmote prefer partnerships where an application provider is co-investing to drive traffic. All of the operators like to see applications that have previously been deployed in sister operating companies or where global framework deals exist.
Contact to the Budapest International Office