Mihály Varga: New HUF 5 billion tender for food companies

The food industry is a strategic sector, so the government wants to strengthen self-sufficiency in this area.

A HUF 5 billion tender will be launched to support the investments of Hungarian food companies, Minister of Finance Mihály Varga announced on Monday. 

Hungarian food companies were able to ensure the country’s food supply and even expand their exports during COVID-19, Varga stressed.

In the latest call of the Economic Development and Innovation Operational Program (Ginop), medium-sized enterprises can receive support to buy modern machines, expand their premises and train their employees, the minister of finance explained. The amount of support will range between HUF 30 million and HUF 500 million per company.

Varga emphasized that the goal is for companies to use these resources as efficiently as possible, therefore the level of subsidies will be adjusted accordingly. If the development delivers the expected results, businesses could even be exempted from repaying the full amount, he pointed out.

Companies will be able to submit their applications on the Széchenyi 2020 website.

Show More

Related Articles

Back to top button