Japanes food company to expand in Hungary

Japanese food company Nissin Foods is spending 18 billion forints (EUR 43.8m) to expand its plant in Kecskemet, central Hungary, realising one of the investments that have helped Hungary to “pass the stress test” and maintain growth despite world economic challenges, the minister of foreign affairs and trade said in Budapest on Thursday.

The government is supporting the investment, which will create 50 jobs, with a 1.3 billion forint grant, Péter Szijjártó said.

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Nissin Foods buys 56 percent of raw materials from local SMEs, and the investment will bolster them too, he said.

Despite the “double whammy” of the coronavirus pandemic and the war in Ukraine, the Hungarian food industry has avoided a comprehensive crisis. At the same time, “as in energy policy, only those countries are really safe that can satisfy demand from domestic produce,” he said.

Hungarian food products are “very innovative and internationally competitive, and the government is committed to ensuring as much support as possible”, he said.

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Source: MTI