Strategic agreement with Telenor announced

Competition

The Hungarian government has entered into its 32nd strategic agreement with a private company, as Prime Minister Viktor Orbán yesterday signed such a deal with Norway-based telecommunications company Telenor.

Telenor executive VP Kjell-Morten Johnsen represented his company at the opening of its new shared services center (SSC).

Orbán stated that Telenor senior management and the Hungarian government “welcome any proposal that would contribute to the growth of the Hungarian economy, thereby generating more tax revenue as this will allow us to proportionally reduce those burdens specifically hitting this sector.”

Telenor enjoys a 31.4% share of the Hungarian telecom market, employs over 1,200 in the country and reported revenue of HUF 158 billion for 2012.

For those keeping score at home, the list of companies having signed such an agreement with the sitting government includes Coca-Cola, Alcoa, Daimler, Suzuki, Hankook, General Electric, Microsoft, Stadler Rail, Tesco, IBM, Tata Consultancy Services, Nokia Siemens, National Instruments, Audi, Jabil Circuit, Continental, Dalkia, Lego, Teva, Sanofi, Bridgestone, Siemens, Denso, Ericsson, Bosch, Gedeon Richter, Waberer's, Huawei Technologies, Linamar, Tata Consultancy and CG Electric.

Hungary Account Deficit at EUR 561 mln in Q4 Debt

Hungary Account Deficit at EUR 561 mln in Q4

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic... Appointments

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic...

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.