Date: November 10, 2016
With the objective to promote business development collaborations between Omani SMEs and Hungarian businesses, Zubair Small Enterprises Centre (Zubair SEC) recently signed a Memorandum of Understanding (MoU) with the Hungarian National Trading House Partner in the region, Insomnia Middle East Wll.
The signing ceremony was inaugurated by Hungary’s non-resident Ambassador to the Sultanate His Excellency Ferenc Csillag, and was attended by Hungarian Envoy Extraordinary-Deputy Head of Mission; Managing Director of The Zubair Corporation, Khalid Muhammad Al Zubair; the Hungarian Commercial and Economic Attaché; Insomnia Middle East Chairman; along with executive management representatives of The Zubair Corporation and Zubair SEC.
The MoU was signed by Mohammed Mubarak Al Hasani, Chief Communication Officer at The Zubair Corporation, and Viktor Polgár, Chairman of Insomnia Middle East.
As per the MoU, Zubair SEC will host the office of the Hungarian National Trading House Partner (INSOMNIA Middle East) in Muscat and will collaborate to explore and identify business opportunities for Omani SMEs with Hungarian businesses in the areas of import, export, and franchising.
Khalid Muhammad Al Zubair said, “We have been tuned to the voiced aspirations of many small enterprises trying to develop business ties with larger companies and penetrate wider markets. This promising collaboration with the Hungarian National Trading House Partner-Insomnia Middle East marks yet another important milestone for Zubair SEC’s efforts to open business development channels for its members and bridge between Omani small enterprises and potential counterparts and large companies outside of Oman.”
He added, “this collaboration with Insomnia can reach beyond establishing ties with Hungarian businesses per so, and help provide Omani small enterprises with opportunities in the wider European market”.
Insomnia Middle East Chairman Viktor Polgár said, “We are delighted to sign this MOU which is the manifestation of the interest by Hungarian enterprises to enter into lasting business relationships with their potential partners in Oman. It will also underpin Insomnia and Zubair SEC’s relationship and enhance cooperation in several areas. The objectives of this MOU are to promote business development in Oman, increase bilateral trade and other forms of economic cooperation between companies in both countries and to strengthen ambience for creating business opportunities between Omani SMEs and Hungarian businesses. Such business synergies would prove to be a win-win situation for both sides.”
Zubair SEC – a social responsibility initiative of The Zubair Corporation – has more than 350 members; membership allows them access to the Centre’s advisory and capacity building services along with networking opportunities and business development support.