The ICEG European Center in Budapest, Hungary, and the Vale Columbia Center on Sustainable International Investment (VCC), a joint undertaking of the Columbia Law School and the Earth Institute at Columbia University in New York, are releasing the results of a survey on outward investors today. The survey is part of a long-term study of the rapid global expansion of multinational enterprises from emerging markets. The results released today focus on Hungarian multinationals in particular. The present survey, conducted in 2010, covers the period 2007-2009.

The report includes a ranking of Hungarian multinationals based on their foreign assets (see table 1 below). The 19 multinationals ranked held almost USD 22 billion in foreign assets in 2009. The top-ranked firm, MOL Group (including TVK, majority-owned by MOL), accounted for more than USD 19 billion, or almost 89%, of these assets. The top 19 companies together registered foreign sales of more than USD 10 billion in 2009 and employed more than 40,000 workers abroad (table 2 below). In 2009, Hungary was the 21st outward investor in terms of FDI stock among emerging markets and the 22nd largest in terms of outward FDI flows, well below the BRIC countries, but a large investor among the New Member States of the European Union. Outward investment by Hungarian companies went primarily into oil and gas exploration and production (mining and quarrying), chemicals and pharmaceuticals. Other investment areas included transport, plastics production, building materials, electronics, food products, and IT and other services. The 19 companies on the list have 149 affiliates in 32 countries, with a strong concentration in Europe, mainly in Central and Western Europe (115 affiliates). These are mainly located in neighboring or geographically close countries, such as Romania (23 affiliates), Slovakia (16), Germany (15), Poland (12) Czech Republic (11), Bulgaria (8) or Ukraine (7). See annex table 2 and annex figure 2 for details.

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