Key Domestic Poultry Company to Double Capacity with Massive Investment

Master Good Kft., a poultry processing company, is doubling its capacity in Kisvárda (eastern Hungary) with an investment of HUF 72 billion (EUR 190 million), creating 600 new jobs, Minister of Foreign Affairs and Trade Péter Szijjártó announced on Friday.

At the announcement of Master Good Kft.’s investment, the minister revealed that the Hungarian-owned poultry processing company is carrying out a HUF 72 billion capacity expansion, for which the government is providing HUF 22 billion (EUR 58 million) in support, thus contributing to the creation of 600 new jobs.

He emphasized that

the company accounts for about half of Hungary’s poultry processing, and a similar proportion of its products are sold on foreign markets, a proportion that will now continue to rise.

“Since the majority of suppliers are also Hungarian, small and medium-sized enterprises operating in the area will also have enormous opportunities thanks to Master Good’s major investment,” he pointed out.

Péter Szijjártó emphasized that the food industry is considered a strategic sector in Hungary, combining old traditions with extremely strict safety regulations. He explained that Hungary currently produces twice as much food as its population consumes, and he set greater self-sufficiency as an important goal.

In this regard, he noted that

295 major food industry investments have been made in Hungary over the past ten years, and the sector’s production value reached HUF 7,000 billion (EUR 18 billion) last year.

“We are committed to protecting Hungarian food industry players, which is why you have seen us protesting vehemently against the entry into force of the European Union’s free trade agreement with South American countries (…) As long as you see us, you can be sure that we will not give up on the interests of farmers and will not allow the free trade agreement between the EU and Latin America to come into force,” he stated.

The minister touched on the successive crises of the past decade and a half and welcomed the fact that, despite all these difficulties, Hungarian economic actors had been able to achieve some very impressive feats. He emphasized that Hungarian family-owned companies had also played a significant role in this, having become extremely strong, particularly in the food industry.

Via MTI, Featured image: Pexels

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