Mihály Varga: Sole-Mizo Zrt. developed three of its production sites with state support
Budapest, Friday, May 7, 2021 (MTI) - Sole-Mizo Zrt. completed developments in its sites in Szeged, Csorna and Bácsbokod with state support worth HUF 5 billion - the news was announced by the Minister of Finance at a press conference in Budapest on Friday.
Mihály Varga said that the development helps to keep 1,225 jobs and the government contributed HUF 2.2 billion to the project. Sole-Mizo expanded its cheese production capacity in Bácsbokod, built a new powdering plant in Csorna, and in Szeged, in addition to also expanding its production, modernized its production technology.
The company is the largest in the Hungarian dairy industry, processing 400 million liters of milk a year, and as the largest Hungarian milk buyer provides jobs and business opportunities for many farmers, the Minister added.
The Government considers it a strategic goal for the Hungarian food industry to fulfill the country's needs with high quality products, thus further HUF 1,500 billion will be allocated to support the food industry and agriculture over the next two years - said the Minister. He added that thanks to the developments, families can purchase controlled, domestically produced food and these products can be competitive abroad as well. The Minister also welcomed the fact that the Hungarian food industry is crisis-resistant, as it was able to grow even during the epidemic. Mihály Varga explained that the support for Sole-Mizo was made possible by the Large Business Investment Program, which, he said, is Hungary's most successful investment incentive program. Since the outbreak of the epidemic 53 businesses invested a total of HUF 110 billion, helping to save or create 22.5 thousand jobs. The government may increase the budget of the program by further HUF 25 billion if it is needed to attract new investments, the Minister said. In response to a question, Mihály Varga said that the 2022 budget will allocate more resources to business development, thus all sectors will have more resources next year. The Ministry of Foreign Affairs and Trade will be responsible for the delivery of the export market support, the Ministry of Innovation and Technology (ITM) for the promotion of small and medium-sized enterprises, while the Ministry of Finance will be in charge of large business tenders, he added. Sole-Mizo Zrt., based in Szeged, is a member of the Bonafarm Group, founded in 2009. The company’s net sales revenue exceeded HUF 73 billion in 2018 and HUF 77 billion in 2019. Almost a third of turnover comes from foreign sales.
MTI Friday, 7 May 2021 11:12