Bahrain-Hungary Business Forum Highlights Mutual Investment Opportunities
Manama, The Gulf Observer: In a virtual gathering, Khalid Najibi, the First Deputy of the Chairman of the Bahrain Chamber of Commerce and Industry (BCCI), underscored the substantial potential for investment opportunities between the Bahraini private sector and their Hungarian counterparts. The Bahrain-Hungary Business Forum aimed to fortify bilateral relations, expand trade, and foster investment between the two nations.
Najibi emphasized the BCCI’s integral role in collaborating with the government to enhance cooperation, increase import-export activities, and bolster economic ties. He expressed the private sector’s eagerness to pave the way for more extensive economic and trade collaboration between Bahrain and Hungary.
The forum drew the participation of over 50 companies specializing in various sectors such as information technology, smart city development, green energy, pharmaceuticals, electronic industries, water management technologies, and food industries.
Najibi highlighted the investment potential in infrastructure, envisioning opportunities that would create qualitative advancements for citizens, support the national economy, and foster economic integration. He stressed the imperative for new investments in various sectors, including significant development projects.
Gabor Jenei, the CEO of the Hungarian Export Promotion Agency (HEPA), disclosed that Hungary’s exports to Bahrain amounted to $15 million, while Bahrain’s exports to Hungary reached $8 million. He identified promising areas of cooperation and urged the business community to leverage these opportunities.
Dr. János Koka, former Hungarian Minister of Economy, underscored the importance of reinforcing economic ties with Bahrain’s private sector and maximizing investment opportunities to achieve strategic goals.
Sawsan Abu Al Hassan, a member of the BCCI Board of Directors, shed light on the information technology, telecommunications, and the digital economy sector in Bahrain. She outlined procedures for establishing companies in Bahrain, supportive entities, and opportunities and trends in those sectors. Bahrain, as a gateway to the $1.67 trillion Gulf Cooperation Council (GCC) market, holds strategic significance for Hungarian businesses.
A meeting between Dr. László Parragh, the President of the Hungarian Chamber of Commerce and Industry, and Khalid Najibi emphasized the need to boost economic cooperation, particularly in industrial and commercial sectors. Dr. Parragh expressed Hungary’s aim to expand its presence in the Middle East and North Africa through Bahrain, focusing on sectors such as information technology, smart city development, green energy, electronic industries, and creative industries.
