Regulatory agencies play a crucial role in ensuring that businesses in Hungary comply with laws and regulations.
These agencies are responsible for monitoring, enforcing, and regulating various industries to promote fair competition, protect consumers, and maintain the overall integrity of the market.
The top 20 regulatory agencies in Hungary are as follows:
1. Hungarian Competition Authority (GVH):
The GVH is responsible for promoting fair competition in the market by preventing and sanctioning anti-competitive practices. It also reviews mergers and acquisitions to ensure they don’t harm competition.
2. National Bank of Hungary (MNB):
The MNB is the central bank of Hungary and is responsible for maintaining price stability, supervising the financial system, and formulating and implementing monetary policy.
3. Hungarian Energy and Public Utility Regulatory Authority (MEKH):
MEKH regulates and monitors the energy and public utility sector in Hungary. It sets tariffs, ensures fair competition, and safeguards the interests of consumers.
4. Hungarian National Authority for Data Protection and Freedom of Information (NAIH):
NAIH is responsible for enforcing data protection laws, promoting transparency, and safeguarding the right to privacy in Hungary.
5. Hungarian National Authority for Consumer Protection (NFH):
NFH is responsible for protecting the interests of consumers by monitoring and enforcing consumer protection laws. It also provides information and advice to consumers.
6. National Transport Authority (NKH):
NKH is responsible for regulating and supervising the transport sector in Hungary. It issues licenses, sets tariffs, and ensures compliance with safety regulations.
7. National Media and Infocommunications Authority (NMHH):
NMHH is responsible for regulating and supervising the media and infocommunications sector in Hungary. It issues licenses, monitors content, and promotes fair competition.
8. National Food Chain Safety Office (NÉBIH):
NÉBIH is responsible for ensuring the safety and quality of food products in Hungary. It inspects food processing facilities, enforces regulations, and issues warnings and sanctions.
9. Hungarian Intellectual Property Office (HIPO):
HIPO is responsible for protecting intellectual property rights in Hungary. It grants patents, copyrights, and trademarks, and enforces laws related to intellectual property.
10. Central Agricultural Office (KÖH):
KÖH is responsible for regulating and supervising the agricultural sector in Hungary. It sets standards, conducts inspections, and promotes sustainable agriculture.
11. Hungarian National Bank Supervision (MNB Felügyelet):
MNB Felügyelet is responsible for supervising and regulating banks, insurance companies, and other financial institutions in Hungary. It ensures the stability and soundness of the financial system.
12. Hungarian National Institute of Pharmacy and Nutrition (OGYÉI):
OGYÉI is responsible for regulating and supervising the pharmaceutical and medical device industry in Hungary. It ensures the safety and efficacy of medicines and medical devices.
13. Hungarian National Authority for Disaster Management (OKF):
OKF is responsible for disaster management in Hungary. It coordinates emergency response efforts, conducts risk assessments, and promotes disaster preparedness.
14. Hungarian Central Statistical Office (KSH):
KSH is responsible for collecting, analysing, and publishing statistical data in Hungary. Its data is used for policymaking, research, and business planning.
15. National Tax and Customs Administration of Hungary (NAV):
NAV is responsible for collecting taxes, enforcing tax laws, and preventing tax fraud in Hungary. It also oversees customs and excise duties.
16. Hungarian Intellectual Property Office of Industrial Property (SZTNH):
SZTNH is responsible for registering industrial property rights in Hungary, such as patents, trademarks, and designs. It also provides information and advice on industrial property.
17. Hungarian National Asset Management Inc. (MNV):
MNV is responsible for managing state-owned assets in Hungary. It ensures transparency and efficiency in the management of state-owned companies.
18. Hungarian Atomic Energy Authority (HAEA):
HAEA is responsible for regulating and supervising nuclear energy and radiation protection in Hungary. It issues licenses, conducts inspections, and enforces safety regulations.
19. National Directorate-General for Disaster Management (OKF):
OKF is responsible for coordinating disaster management efforts, conducting risk assessments, and promoting disaster preparedness in Hungary.
20. Hungarian National Authority for Intellectual Property Protection (SZTNH):
SZTNH is responsible for protecting intellectual property rights in Hungary. It conducts investigations and takes legal action against intellectual property infringement.