The Foreign Minister of Hungary has inaugurated two brand new Hungarian factories yesterday. Read about which aspects of the Hungarian economy has grown this time.
In view of the war in Ukraine, all investments that boost the performance of Hungary’s agriculture are of strategic importance, Péter Szijjártó, the minister of foreign affairs and trade, said on Wednesday at the inauguration of the expansion of AJG Agrogép, a farm machine manufacturer in north-eastern Hungary.
At the event in Nyírtelek, Szijjártó praised the “excellent performance” of Hungary’s agriculture during the coronavirus pandemic, which hit a record 3,000 billion forints (€ 8.1 billion) and was free of supply interruptions, the foreign ministry said in a statement.
The government, bearing the war in mind, has made it mandatory to report exports of grain, and raised supplementary farm subsidies to 80 percent from 12.5 percent, he said.
The government supported AJG’s 565-million-forint investment with a 282 million grant, helping the company to preserve 130 jobs, he said.
In Szabolcs-Szatmár-Bereg County, 52 companies invested a total of 30 billion forints with the help of the government’s investment support scheme, which provided 13 billion in grants, thereby helping to save 12,000 jobs, he said.
As Hungarian-owned businesses go from strength to strength, they reduce the country’s vulnerabilities and enhance the country’s economic stability, the minister of foreign affairs and trade said at the inauguration of a 600-million-forint (€ 1.6 million) expansion of the Szerencs Bonbon sweet factory in north-eastern Hungary on Wednesday.
The government has provided support of 282 million forints, helping the family-owned company preserve 130 jobs, Péter Szijjártó said.
He said it was important to strengthen a traditional brand, adding that “reviving Hungarian brands we know from our youth will also benefit our national self-awareness and pride”. Szijjártó said Hungary’s food industry was experiencing its “most successful days”.
The investment project in Szerencs includes the construction of a 2,300 sqm production hall and the merger of the factory’s various facilities in Szerencs into one complex.