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Oct 31, 2017

PM Orbán launches largest food industry investment of its kind since the fall of communism

The Kall Ingredients Limited’s isosugar refinery is the largest food industry investment of its kind since the fall of communism and will increase the country’s GDP by 185 billion HUF (600 million EUR)

Prime Minister Viktor Orbán has declared that the inauguration of Kall Ingredients Limited’s isosugar refinery in Tiszapüspöki has marked an important milestone in Hungary’s reindustrialization.

The prime minister said the plant signifies a new beginning for the food industry, as the Tiszapüspöki project is the largest food industry investment of its kind since the fall of communism and that the plant’s activities will increase the country’s GDP by 185 billion HUF (600 million EUR).

PM Orbán also highlighted the importance of being able to "celebrate the demise of the EU sugar quota with such a wonderful event”, adding that he hoped "other quotas will soon follow its example”.

PM Orbán said that the sugar quota had been catastrophic for Hungary, and “it was the reason that, out of the twelve sugar refineries operating at the time of the fall of communism, only one is still in existence”.

One of the lessons that can be learnt from this is that “without a strong national industry we will always be vulnerable," PM Orbán said.

The prime minister added that Hungary is once again standing at the gateway to a great era, and he expressed his hope that the growth trajectory that began in 2014 will last at least as long as the country’s economic “golden age” between the Compromise of 1867 and the First World War.