Hungarian businessmen seek Bahrain joint ventures

TDT | Manama     

The Daily Tribune – www.newsofbahrain.com

Report by Zahra Ayaz

A delegation of Hungarian entrepreneurs have shown significant interest in forging partnerships with Bahraini companies across diverse sectors.

Their proposal, aimed at manufacturing goods within Bahrain, promises to open up fresh avenues for collaboration and economic prosperity.

Led by Tamas Hovany, Chairman of Bahrain-Hungary Relations, a round table discussion convened at the prestigious Radisson Blu Diplomat.

During the session, Hungarian businessmen unveiled their innovative concepts spanning tyre recycling, medical equipment for kidney transplants, specialized construction for bridges and railways, and military equipment manufacturing.

Sandor Holbok, representing the delegation, elaborated on their visit's purpose in an exclusive interview with The Daily Tribune.

Search for new business opportunities

“Historically, Hungary’s primary commercial partner has been Germany. However, in recent years, Germany’s economic policies have shifted towards Russia and China, leaving Hungary in search of new business opportunities,” he explained.

Holbok further elaborated, “Hungary lacks natural resources, energy, metals, and fertile land for agriculture.

Previously, aligning with Germany sufficed, as it was a prosperous country.

However, due to Germany’s changing dynamics, Hungary now seeks to explore the Middle East, particularly the UAE, which is well-known in Hungary for its tourism sector. We are gradually realising the region’s vast potential for Hungarian companies.”

Fenyvesi Tamas, another Hungarian businessman representing the military, healthcare, and rubber recycling sectors, also expressed his intentions to The Daily Tribune.

Potential partners and investors

“We are actively seeking potential partners and investors in Bahrain. Our expertise lies in hospital construction and maintenance.

Presently, we have an ongoing tender in Algeria for the Ministry of Defense, wherein we are constructing 250 patient beds for a military hospital,” Tamas stated.