The Hungarian government will provide EUR 7.5 million to the company's investment.Continue reading
Japanese Nissin Foods, one of the market leaders in the production of instant food, is now bringing its second European production plant to Kecskemét, with the HUF 40 billion (EUR 99 million) investment doubling the company’s existing local capacity, Minister of Foreign Affairs and Trade Péter Szijjártó said in Budapest on Friday.
The minister said that Japanese food company Nissin Foods will set up a new production unit in Kecskemét (south of Budapest) for the production of instant noodle soups in bags and cups, as part of a HUF 40 billion (EUR 99 million) investment. The state will support the development with more than HUF 10 billion (EUR 25 million), thus helping to increase the number of employees to 600.
In his speech, he pointed out that the company is bringing the latest technology available to Hungary, and that it uses mostly local raw materials in its operations, thus steadily increasing the proportion of Hungarian suppliers. He added that 90% of the products manufactured in Kecskemét are sold on foreign markets and the factory currently has an annual capacity of over 250 million units, which is now set to double.
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Mr. Szijjártó, praising the strategy of opening up to the East, pointed out that there are more than 200 Japanese companies operating in Hungary, employing 30,000 people, and the government has provided support for 72 large Japanese investments in the past ten years. He also touched upon the fact that
Bács-Kiskun County is making an increasing contribution to the performance of the Hungarian economy, with unemployment falling from 9.3% to 4.5%in ten years, while the value of industrial production has increased from HUF 1,800 billion (EUR 4.5 billion) to HUF 3,800 billion (EUR 9.5 billion).
“One of the most important goals of Hungarian economic policy is to maintain a situation where everyone who wants to work in Hungary can do so. To protect full employment, we need to keep investing more and more. This is why we need to agree on the construction of at least 100 new factories this year,” he explained.
Péter Szijjártó; Photo: MTI/Purger Tamás
The minister also pointed out that the coronavirus epidemic and the war period have clearly demonstrated that the ability to supply food is literally a vital national strategic issue, and therefore the food industry must be treated as a strategic sector, and the best conditions must be provided for its development.
“We have set ourselves two strategic objectives for the food industry. First, that Hungary should be able to be self-sufficient. This has been achieved, as agriculture in Hungary produces twice as much produce as we can practically eat. And the second strategic objective is that large companies operating in the food industry in Hungary should use Hungarian raw materials and produce as much as possible,” he said. He underlined that
in the last ten years, 287 major food investments have been made in Hungary with state support, worth HUF 1,400 billion (EUR 3.5 billion).
The sector has not only survived crises, but has also reached astonishing peaks: its production value was HUF 3,800 billion (EUR 9.5 billion) in 2020, and HUF 6,500 billion (EUR 16.2 billion) in 2024. “This is a huge increase, and it clearly shows the breakthrough success and growth that the Hungarian food industry has enjoyed over the past year,” he said.
Via MTI; Featured picture: Pixabay