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The economic strength of Central and Eastern Europe is largely shaped by close cooperation among the Visegrád countries (V4), serving as a springboard for companies expanding into foreign markets. Despite fluctuating political discourse, corporate data show stable growth, reveals an analysis by the Oeconomus Economic Research Foundation.
Oeconomus notes that companies from the V4 countries (Poland, Slovakia, Czechia, Hungary) typically enter international markets following the Uppsala model, expanding gradually from geographically, culturally, and institutionally similar neighboring markets toward more distant ones. Experience gained in nearby countries provides the resources needed for further expansion.
Although political cooperation has slowed in recent years, trade and economic relations among the V4 countries have remained active. For many V4 companies, accessing neighboring V4 markets is often easier than entering the broader EU market. Joint supply chains, projects, and investments are common, supported by the countries’ similar industrial structures. The automotive and electronics industries are particularly important, alongside transport, services, trade, and investment.
In the energy and oil sector, the Hungarian MOL Group is one of the most significant regional players. Since 2000, it has operated a refinery in Bratislava through its wholly owned subsidiary Slovnaft, exporting fuels and petrochemical products across the V4. MOL also operates filling station networks in the Czech Republic and is active in fuel retail and logistics cooperation in Poland. The Polish Orlen Group has a similarly strong regional presence.
The automotive industry is a key pillar of the V4 economies. In recent years, cooperation among regional automotive companies has focused on digitalization, artificial intelligence, sustainability, and battery production. The Volkswagen Group (VW) is the region’s most important automotive actor, with production and development sites across all four countries, complemented by a strong presence of the Hyundai-Kia Group. In Slovakia, Volkswagen Bratislava manufactures vehicles for four brands at a single location. In the Czech Republic, the group is represented by Škoda Auto, where all vehicle development and production for the brand takes place.
In Hungary, Audi represents the Volkswagen Group, with engines and electric powertrains being manufactured at the Győr plant, while Poland is home to some of the VW’s logistics centers and supports parts production through its subsidiary located there.
In the financial sector, Hungary’s OTP Bank has pursued step-by-step expansion in Central and Eastern Europe since the early 2000s, beginning with Slovakia and later extending its presence beyond the region.
Photo: MTI/Balogh Zoltán
Trade growth among the V4 countries over the past three decades has increased demand for logistics and transport cooperation. Poland’s PKP Cargo and Hungary’s Waberer’s Group play key roles in regional freight transport, while the Czech Packeta Group has become an important player in parcel delivery, supporting the growth of e-commerce across Central Europe.
In retail and commerce, the Polish LPP Group operates several well-known clothing brands across the region. Czech companies such as online retailer ALZA and food delivery firm Kifli.hu have expanded rapidly within the V4 and beyond.
On the Hungarian side, the CBA retail chain began expanding into V4 and neighboring markets around the turn of the millennium and later formed partnerships with food retailers in several European countries.
In tourism and hospitality, Czech and Hungarian companies maintain subsidiaries across the V4. Hungary’s Danubius Hotels Group operates hotels in the Czech Republic and Slovakia, while the Czech tea house chain Dobrá Tea has expanded regionally since the early 2000s.
The pharmaceutical industry is also significant: Hungary’s Gedeon Richter has been active in Poland since the 1990s, Czech-based Zentiva operates across much of Europe, and Poland’s Vipharm is among the country’s most dynamic pharmaceutical firms.
Photo: Hungary Today
According to Oeconomus, companies in these sectors typically use the V4 region as their first step into foreign markets. Beyond economic and strategic considerations, the Visegrád cooperation itself plays an important role, supported by chambers of commerce that facilitate access to information, investment opportunities, and regulatory environments. As a result, the V4’s role extends beyond traditional diplomacy, delivering tangible economic benefits for all four countries.
Via oeconomus.hu, Featured image: X/V4 Presidency
The post Economic Power of Visegrád 4 as a Springboard for International Expansion of Companies appeared first on Hungary Today.
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