Hungarian European Business Council

The Hungarian European Business Council (HEBC) was established in 1998 at the initiative of the European Round Table of Industrialists (ERT). ERT is the forum of the Chief Executives and Chairmen of 51 European industrial companies. Their European sales exceed € 2,135 billion, thereby sustaining around 6.8 million jobs in the region. HEBC members are top managers of the Hungarian subsidiaries of ERT companies: ABB, AkzoNobel, Ericsson, Heineken, Henkel, L’Oréal, Magyar Telekom, Nestlé, Nokia and Shell

 The most important part of HEBC’s activity is the publication of the annual reports. They are written by the members themselves with every sentence based on consensus. A basic rule of HEBC is that it does not lobby for the individual business interests of the member companies, but wishes to support exclusively the development and competitiveness of Hungary as a whole. The report aims to express HEBC members’ non-political opinions based on their own experiences as investors, in the interest of creating a more stable economic environment, which is more predictable over the long term.

HEBC addresses its recommendations principally to the Hungarian Government in charge at the time, that has the means to make changes resulting in development in the interest of the country.