Having highly skilled workers, as well as individuals that have completed a vocational school or high school that thrive and earn a decent living, as well as backing Hungarian companies and businesses is in the Government's interest - said Minister of the Prime Minister's Office János Lázár on Friday at the inauguration of the two new production halls of Váll-Ker Ltd. which took place in Makó, southern Hungary.

This was the sixth and seventh production hall inaugurated at the 100 percent Hungarian and local-owned company specialising in the manufacturing of fireplaces. The total cost of this investment amounted to HUF 150 million (approx. EUR 480,000), of which HUF 50 million (EUR 160,000) was secured through funding.

Strong Hungarian companies keep savings, economic added value in the company and not only provide work and create opportunities for themselves and their employees, but also for the community in which they thrive, emphasised Minister János Lázár.

The Minister stated that it is an honour and joy for the Government to back such an investment which contributes to increasing capacities, as well as retaining and increasing jobs.

Minister Lázár pointed out that the EUR 34.5 billion agreement, which ensures the framework for developments over the 2014-2020 period, was concluded between the European Union and Hungary a few days ago. 60 percent of this framework is earmarked for economic development. During the 2007-2013-period, only 16 percent of the funding made available was invested in economic development, a part of which is the Váll-Ker Ltd. investment, the Minister noted.

The Minister highlighted that the Government will be easing conditions for funding and administrative burdens will also substantially decrease, which persisted in the calls of applications announced during the previous period.

Váll-Ker Ltd was founded 22 years ago and it employs 250 people, 30-40 percent of which are women. 98 percent of their revenue is generated from exports. Germany is their top trading partner, but the company is also present in England and Denmark. The company is expected to manufacture around 40,000 fireplaces this year and counts on generating a turnover of HUF 3.5 billion (EUR 11.2 million).

(Prime Minister's Office)