Hungary FM: Master Good Expansion to Create 600 New Jobs

The Minister of Foreign Affairs and Trade visited Kisvarda, where he spoke at the announcement of Master Good Kft.'s new investment. Peter Szijjarto said that the government is providing HUF 22 billion in support for the Hungarian company to double its capacity.

Poultry processing company Master Good Kft. is doubling its capacity in Kisvarda with an investment of HUF 72 billion, which will create 600 new jobs, the Minister of Foreign Affairs and Trade announced on Friday in the city. Peter Szijjarto also emphasized that the company accounts for about half of Hungary's poultry processing.

Peter Szijjarto emphasized that industrial production in the county has increased two and a half fold over the past ten years. (Photo: DURSUN AYDEMIR / ANADOLU)

According to a statement from the ministry, the minister said at the announcement of Master Good Kft.'s investment that the Hungarian-owned poultry processing company will carry out a capacity expansion worth HUF 72 billion, for which the government will provide HUF 22 billion in support, thereby contributing to the creation of 600 new jobs.

In his speech, he emphasized that the company accounts for approximately half of poultry processing in Hungary, and that a similar proportion of their products are sold on foreign markets, a proportion that is now set to increase further.

"And 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.

He explained that industrial production in Szabolcs-Szatmar-Bereg County had grown two and a half fold in ten years, exceeding HUF 1,800 billion last year, while unemployment had fallen by half. This, he said, was also due to the fact that during this period, 121 major investments had been made here with state support, worth a total of HUF 1,700 billion and creating 15,000 jobs.

Szijjarto emphasized that the food industry is considered a strategic sector in Hungary, combining old traditions with extremely strict safety regulations.

He explained that Hungary can now produce 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 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 we are at the helm, 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 then touched on the successive crises of the past decade and a half, welcoming the fact that, despite all these difficulties, Hungarian economic actors had been capable of achieving remarkable feats. He emphasized that Hungarian family-owned companies had also played a significant role in this, and had become extremely strong, particularly in the food industry.

"Despite the international turmoil raging around us, we still managed to introduce Europe's lowest labor taxes, Europe's lowest utility costs, and to create one million new jobs," he said.

At the same time, he warned that in such turbulent times, the hard-won achievements could easily be jeopardized by the many uncertainties.

"That is why we must be very cautious about sudden moves and the lure of novelty, and in this case it is worth continuing along the well-trodden, familiar path, playing it safe," he said, alluding to the upcoming elections.

Cover photo: Peter Szijjarto, Hungary's Minister of Foreign Affairs and Trade (Photo: AFP)