Listen to the audio version of this article (generated by AI).
Listen to the audio version of this article (generated by AI).
The government is providing a HUF 25 bln grant to the project that will create 64 jobs, the minister said.
The construction will involve building a solar park, making the plant’s operations much more competitive, he added.
Szijjártó noted that the Hungarian government has established a support program under which Hungarian companies can receive special financial support if they bring home profits generated abroad and use them for investments.
In the past 11 years, the government has provided HUF 620 bln in support for large investments by 1,130 Hungarian companies, helping realise HUF 2.5 trillion of investments, he said.
The minister noted that the investment will significantly boost Vajda-Papír’s production capacity and allow for the domestic production of wet wipes to begin, which were previously imported to Hungary.
Szijjártó said that the company employs 600 workers in Hungary and some 700 abroad, and exports its product to 30 countries.
Vajda-Papír noted that the group’s consolidated net revenue rose 5.3% to HUF 75 bln in 2025 according to preliminary data. Finished product sales volume increased by 10% as stagnation in the domestic market was offset by a significant increase in exports.
Founder and managing director Attila Vajda the company is planning further developments in the coming years, including investments related to the use of renewable energy.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
