Hungary's Food Industry Nearly Doubles Production Value Amid Government Support for Domestic Businesses
Hungarian Foreign Minister Szijjártó Péter highlights the growth of the food industry and the government's role in bolstering domestic SMEs at a new factory opening.
The Hungarian food industry has nearly doubled its production value compared to the year of the COVID-19 pandemic, according to Foreign Minister Szijjártó Péter.
He made this statement at the inauguration of a new facility for Kemenes Confectionery Manufactory Ltd., a Hungarian family-owned business in Páty.
The company has invested approximately 1.8 billion forints in the new facility, with state backing of 618 million forints, which has resulted in an increase in the number of employees to 85, as reported by the Hungarian news agency MTI.
Minister Szijjártó emphasized the strategic importance of supporting small and medium-sized enterprises (SMEs) that are Hungarian-owned as a central component of the country's economic policy.
He stated, "The government’s support for domestic companies is at the heart of our economic policy, and this will remain unchanged in the future."
The new facility is expected to open up additional markets for Kemenes, allowing their products to be available beyond Hungary’s borders.
Highlighting the resilience of the food industry, Minister Szijjártó noted that the sector's production value had reached 3,800 billion forints in 2020 during the COVID-19 pandemic, and increased to 6,500 billion forints last year.
Over the last decade, the Hungarian government has supported investments in 1,108 domestic companies with a total value of 580 billion forints, contributing to the creation of 14,000 jobs and generating investments worth 2,300 billion forints.
The minister also addressed the broader global economic challenges, acknowledging recent years of crises that have underscored the vulnerabilities faced by economies and industries worldwide.
He made this statement at the inauguration of a new facility for Kemenes Confectionery Manufactory Ltd., a Hungarian family-owned business in Páty.
The company has invested approximately 1.8 billion forints in the new facility, with state backing of 618 million forints, which has resulted in an increase in the number of employees to 85, as reported by the Hungarian news agency MTI.
Minister Szijjártó emphasized the strategic importance of supporting small and medium-sized enterprises (SMEs) that are Hungarian-owned as a central component of the country's economic policy.
He stated, "The government’s support for domestic companies is at the heart of our economic policy, and this will remain unchanged in the future."
The new facility is expected to open up additional markets for Kemenes, allowing their products to be available beyond Hungary’s borders.
Highlighting the resilience of the food industry, Minister Szijjártó noted that the sector's production value had reached 3,800 billion forints in 2020 during the COVID-19 pandemic, and increased to 6,500 billion forints last year.
Over the last decade, the Hungarian government has supported investments in 1,108 domestic companies with a total value of 580 billion forints, contributing to the creation of 14,000 jobs and generating investments worth 2,300 billion forints.
The minister also addressed the broader global economic challenges, acknowledging recent years of crises that have underscored the vulnerabilities faced by economies and industries worldwide.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
