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SZIJJÁRTÓ ANNOUNCES HUF 18 BN NISSIN FOODS INVESTMENT EXPANSION

 

Japanese food company Nissin Foods is spending 18 billion forints (EUR 43.8m) to expand its plant in Kecskemét, in central Hungary, implementing one among many investments that have helped Hungary “pass the stress test” and maintain growth despite world economic challenges, the minister of foreign affairs and trade said. The government is supporting the investment, which will create 50 jobs, with a 1.3 billion forint grant, Péter Szijjártó said. Nissin Foods buys 56% of raw materials from local SMEs, and the investment will bolster them too, he said.
Szijjártó said that 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.