Ministry of Finance

Mihály Varga signs job-creating strategic partnership agreement

July 9, 2020 11:09 AM

“MMXH Ltd. will be establishing new home furnishing stores and an 8.2-billion-forint (EUR 23 million) logistics centre in Hungary, as a result of which 500 new workplaces will be created”, Minister of Finance Mihály Varga announced. The Minister and Managing Director of MMXH András Simonyi concluded a strategic partnership agreement that will contribute to the more rapid rebooting of the Hungarian economy.

“The government regards the global market relations and level of technology provided by the large corporations operating here as a major resource”, Mr. Varga emphasised. “For this reason, in 2012 the government decided on raising cooperation with the large corporations operating in Hungary to a new level”, he said. “The whole country has won as a result of the strategic cooperation agreements concluded since then: the enterprises themselves and the small and medium-sized enterprises that act as their suppliers have all won, and the Hungarian economy has also acquired an advantage”, the Minister pointed out. Mr. Varga drew attention to the fact that the best way to fight the recession is through job creation and increased investment.

Accordingly, the large corporations operating in Hungary are playing a major role in the speed at which the economy returns to the high rate of growth it was enjoying prior to the coronavirus pandemic.

MMHX Home Furnishing Limited, which is the Hungarian subsidiary of the Austrian-owned XXXLutz Group, is already represented in Hungary with 10 Mömax and 7 Möbelix furniture and interior decorating stores. The company is planning on being in Hungary for the long term and is continuously expanding both its investments and the number of Hungarian suppliers it operates with, in addition to which it takes part in dual training programs, and within the field of innovation may also be planning on performing research & development in Hungary. The Minister said that thanks to the newly concluded agreement, the company is becoming one of Hungary’s priority strategic partners.