The Joint Venture Association's aim is to goal the views and ideas of its membership on problems of business conduct, and to take care of their interest towards decision-making organizations and institutions. By pursuing this target, JVA contributes to the forming of an economic/social environment in order to enhance the European as well as international integration of the Hungarian economy, the further influx of foreign direct investment and the diffusion of favorable foreign experience in Hungary.
The Joint Venture Association
has been formed in 1986 - initially as a club - foremost to represent, protect and exert by all legal means the specific interests of partly or wholly foreign-owned companies registered in Hungary, based on voluntary membership, as a non-political and not-for-profit association.
The JVA's Statutes were updated by the General Assembly on May 28, 2010, redefining precisely the JVA-membership:
"2.1 MEMBER OF THE ASSOCIATION
2.1.1 Ordinary and/or supporting member of the Association may become a
legal entity registered in Hungary or abroad:
a) in the first place foreign-invested companies (incl. wholly foreign-owned
b) [local] commercial representations of foreign-based companies,
c) [local] branches of foreign-based companies,
d) other establishments (incl. wholly Hungarian-owned companies),
provided that they accept the Statutes of the JVA.
2.1.2 Honorary member of the Association may become a Hungarian or a foreign
natural person, who has contributed in a conspicuous way to
foreign direct investment (FDI) in Hungary."
The Joint Venture Association currently counts some 300 registered members, however, through their affiliations (parent-, sister companies and subsidiaries) its services are in effect available to about 1500 firms in Hungary and abroad. The total registered capital of registered members amounts to USD 5 billion, their net sales revenue is USD 25 bn. These companies employ 110.000 people.
The national origin of the foreign investors of these companies reflects the country of origin structure of FDI in Hungary: leading the group of investors/proprietors are Germans, Austrians and USA investors, but investors come from altogether 33 countries, also from as far as Australia and New-Zealand.
The JVA's members include firms from all sectors of the economy: industry, commerce, services of all sorts, including the „new economy": like IT and telecommunications, as well as the more traditional food-processing, light industries, chemical industry, bank- and insurance services, auditing and consulting firms. One third of the membership are multinational companies, the are st small- and medium size enterprises (SMEs), but all of them are provided with the same rights and opportunities within the Association. Also the geographic structure of member-companies is diversified, they dot every region of the Hungarian landscape.
Main objectives and activities of the Joint Venture Association
1. Interest representation, comprising the commenting of drafts of laws, thus influencing legislation on one side, and the remedy of members for eventual impairment, on the other side. Relying on its own professional skills as well as applying external experts, the Association surveys members' complaints, claims and problems and in case of general interest, submits them to competent authorities for remedy. The JVA is keeping close contacts with legislators and executives of national authorities and appropriately lobbies for the membership's interests. Regular meetings, conferences and other events provide excellent opportunity for networking. At these occasions members have the chance of raising their questions to guest-speakers from government and business circles, face-to-face.
2. The JVA's Information service is foremost aimed at providing its members with rapid information affecting their business interests, be it changes of legal norms, business chances, or professional literature. For providing current and comprehensive information the Association organizes professional forums, conferences, publishes a three-lingual (Hungarian, English, German) newsletter, and constantly informs interested members in writing, via phone or in personal meetings.
3. Promotion of partner-contacts, creating opportunities for social contacts, like the monthly manager dinners, mutual presentations, excursions and other informal, entertainment-like gatherings.