During the coronavirus epidemic, the ability to be self-sufficient has increased in value, therefore the government's goal is for domestically owned companies to form the backbone of the food supply, Minister of Foreign Affairs and Trade Péter Szijjártó announced on Friday.
At the announcement of Hunent Víziszárnyas Feldolgozó Zrt.'s new investment, the head of the ministry emphasized that, as a result of the pandemic, the old dogma of the internationalization of supply and supplier chains has now become obsolete, and the countries of the world have begun to strive for the ability to be self-sufficient.
In his speech, Péter Szijjártó emphasized that serious challenges had to be faced in the past two years, and a new era had begun in the world economy, as part of which the redistribution of international markets began.
However, new challenges also mean new opportunities for Hungary
he said. He added that the actors who responded to the difficulties with investments instead of downsizing can be truly successful. According to him, Hungary's economy could have ended one of the best years of all time last year. The recently announced expansion of the deep well plant will be realized with around HUF 6.5 billion, for which the state will provide HUF 2.2 billion in support, for which the company has undertaken to preserve five hundred jobs. In this regard, the minister reported that the company works 90 percent with domestic suppliers, while approximately 70 percent of its products are sold abroad. Finally, he stated that agriculture and the food industry should therefore be treated as strategic sectors. He then announced that the production value of the food industry increased by sixteen percent last year, which was more than four thousand billion forints. The sector currently employs 145,000 people in Hungary.
Source: PestiSrácok
Featured image: MTI/Noémi Bruzák
