Hungary’s largest baking plant was handed over in Hatvan

(Photo: Pixabay)

Mihály Varga pointed out that during the years of the regime change, some of the food industry companies that had dominated until then came under foreign ownership. Their absence is more felt today, after a pandemic and during a protracted war taking place next door, than at any time in the past three decades, he said. All this makes it clear: the development of the sector must be continued in Hungary so that food safety remains strong even in crisis situations with the smallest possible exposure to the foreign market, said the Minister of Finance. Mihály Varga noted that, in addition to the expansion of capacities, it is also necessary to increase quality, productivity and energy efficiency, which the government has contributed to in many cases in the past period. The head of the ministry reminded that it is also thanks to these subsidies that the Hungarian economy has already successfully recovered from the downturn caused by the coronavirus epidemic. And since then, it has proven that it is capable of outstanding performance despite the Russian-Ukrainian war and the European Union’s flawed sanctions policy, as last year it achieved growth of 4.6 percent, exceeding the EU average, in a “dangerous and unpredictable environment,” Mihály Varga said. also pointed out, thus the Hungarian economy came to the prestigious 8th place in the EU ranking, while in the meantime the promised and rightful recovery funds from Brussels have not yet arrived, causing a competitive disadvantage compared to the other member states.

Mihály Varga also spoke about how the economy, having avoided recession, is expected to remain on a growing path this year as well

The expansion may be 1-1.5 percent in 2023, and next year, according to the cabinet’s hopes, it may return to the pre-epidemic pace. According to the Ministry of Finance’s press release delivered to MTI on Tuesday, with the total investment of HUF 20 billion by Lipóti Tóth és Társai Zrt., Hungary’s largest capacity bread, pastry and bakery production plant was created in Hatvan. The development will create 260 new jobs. The Hungarian-owned family company, which employs 70 subcontractors and has around 350 stores, is the only bakery business that sells its fresh products almost nationwide.

That is why the new baking plant is important

At the event, founder-owner Péter József Tóth announced that the 20,000-square-meter plant in Hatvan was built in 2 years with the help of a 6.7 billion forint subsidy from the government and a bank loan. With the investment, their goal is to strengthen the international competitiveness of the company that has been operating for more than 30 years, and in addition, to build a business network that provides full national coverage on the domestic market within 2-3 years, he added. Zsolt Szabó, member of parliament from Fidesz, spoke at the event: For Hatvan and the region, the new baking plant is not only important in itself, but together with the suppliers represents a really great value. And the vision of the owners is to be welcomed, as it speaks of keeping the company in Hungarian hands, continuous development and the integration of actors and work processes. He indicated: the government gives special support to the food industry and it is important that as many players in the sector as possible take advantage of this opportunity, strengthening the economy as a whole, employment and the sector itself. Richárd Horváth, the mayor of Hatvan, highlighted the handover as a celebratory moment: the owners and their helpers deserve recognition, as they not only dared to dream, but were able to realize it. The municipality of Hatvan contributed to this with an entrepreneur-friendly environment and predictability, as well as a service provider partnership and will continue to contribute in the future, helping the successful operation of companies operating locally and wishing to establish themselves – he noted.

MTI