Issue 01 | July 2009

This is the electronic newsletter of the British Chamber of Commerce in Hungary, where you can find the latest Chamber news. For more information about us, our ongoing projects and activities as well as advertising and membership options, you can always visit our website at www.bcch.com or contact us at +36 1 302-5200 / +36 1 302-5201 and bcch@bcch.com.
 
Best regards,
 
The BCCH team
Chair letter

Dear Members and Friends of the BCCH,

I am happy to welcome you reading the first edition of our new newsletter. The objective of this media is to provide you with up-to-date Chamber information, exciting and useful business content in a format consciously designed to our members' reading habits. In the framework of renewing BCCH communication to members, partners and the outside world, we follow the principles of providing you with tailor-made, regular, valuable and paper-free content. I wish to thank everyone participating in this initiative for their excellent contribution.
In Focus
British Chamber of Commerce in Hungary closes one of its most successful years

The BCCH held its Annual General Meeting on 14 May 2009, where the management of the Chamber reported on last year's results. Despite the economic difficulties, the BCCH stabilised its membership, held more than 50 events, and its ten Special Interest Groups worked on serving members' professional, event and business needs, as a result of which the Chamber has closed one of its most successful years since its establishment.

Portfolio.hu Analysis
Does Hungary need another IMF package?

Hungary seems prone to exhausting its EUR 20 billion credit facility provided by the IMF, the EU and the World Bank by the end of 2010, Portfolio.hu estimates. The conclusion we can draw from this outlook is that it would take guts for policymakers to plan ahead beyond 2010 without having another IMF package on their mind, especially in view of the great number of uncertainties that surround the future of global money and capital markets. So, what should Hungary do then?

Interview
Interview with Dr. András Vértes, Chairman of GKI Economic Research Co.

Dr. András Vértes, Guest Speaker at the Business Dinner following the BCCH AGM, talked to Robert Smyth about Hungary's political and economic outlook and envisaged investment environment before his presentation on the same subject to the attendees of the event. According to him, there has been an exaggeration in the way that the global financial crisis and its real impact on Hungary has been portrayed in the media and perceived by the public, and he called for less politicising and more analysis of hard numbers in evaluating the true position Hungary finds itself in.

Upcoming Event
New date for the BCCH Family Day and Tennis Tournament

Due to the flood warnings and bad weather forecasts for this Sunday, the BCCH has decided to hold its traditional Family Day for members, partners and their families at the Holiday Beach Hotel a week later, on Sunday, 5 July 2009. The programme has not changed, and the event will also serve as a charity drive, so all sponsors and attendees will be supporting the Children's Hospital in Tűzoltó utca, and since the date coincides with the Wimbledon Championships, the event will also serve as a Tennis Tournament.
 
 
Embassy News
The latest news from the British Embassy in Budapest

UKTI is offering assistance to companies visiting TechnologyWorld09, is one of the largest technology 'speed meeting' events in the UK, to be held on 23-24 November 2009 at the Ricoh Arena in Coventry, UK. If you wish to learn more and see further news items, please click to read more.

International Outreach
BCCH to vice chair EuCham

As part of the Chamber's co-operation with other European Chambers in Hungary, the BCCH is proud to announce that Chairman Gergely Mikola also acts as Vice Chairman of the Permanent Commission of the National and Bilateral Chambers of the EU countries in Hungary (EuCham) from 1 June 2009.

New Members
New members of the BCCH in 2009

Click here to see who have joined the Chamber since the end of last year. If you wish to find out what these and almost 180 other companies already know, the benefits of becoming a member of the BCCH, please visit the Membership section of the Chamber's website or contact the office for more details.

(c) 2009 - British Chamber of Commerce in Hungary | 1137 Budapest, Szent István krt. 24. IV/3.
Tel.: +36 1 302-5200 or 302-5201
Fax: +36 1 302-3069		 E-mail: bcch@bcch.com
Web: www.bcch.com