Gov't Raising Support for Food Industry Suppliers

Government

The government has decided to raise the allocation for a program to support upgrades at food industry suppliers from HUF 6 billion to HUF 33 bln, the Ministry of Economic Development said in a release on its website Friday.

Interest in the scheme, announced in September, is "huge," the ministry said. The higher allocation will support investments with a value of more than HUF 45 bln at 78 companies, it added.

Those include investments in production lines, renewable energy developments, packaging, and warehouse improvements.

A total of 114 applications were submitted for the funding. Nine of every 10 applicants were 100% Hungarian-owned, and two-thirds had a headcount of less than 100.

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