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Hungary is the world’s seventh most favoured investment target, according to IBM Global Location Trends, a government official said on Tuesday.

Commenting on the 2017 report, Tamás Menczer, state secretary for communications, said that in terms of high value-added foreign investments, Hungary is also at the forefront, ranking 16th.

At a press conference in Budapest, he noted a favourable economic environment for investors, one of the lowest personal income tax rates in Europe and its lowest corporation tax.

Based on data recorded in 2017 Serbia came in first, followed by Lithuania then Bosnia and Herzegovina. Not adjusted for the size of population the United States was first, China took second place and Mexico third.

Hungarian Investment Promotion Agency (HIPA) head Robert Esik said in 2017 IBM registered 121 investments in Hungary by foreigners, which created 17,500 jobs.

Around 5,500 jobs were created in Budapest, putting it in 6th place among European capitals.

Esik noted that in the first half of 2018 HIPA helped attract 46 investments to Hungary valued at more than 2 billion euros in total and creating 7,000 jobs.

Source: MTI

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