The Saudi Arabian market is happy to see Hungarian know-how

By: Trademagazin Date: 2024. 12. 09. 11:10

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The Hungarian-Saudi Arabia Digitalization Cluster (HSD Cluster) held its first open day, where participants could gain insight into the Cluster’s operations, vision and objectives. The special guest of the event was Sándor Faragó, Hungary’s Foreign Trade and Commercial Attaché, who spoke about the opportunities in the Saudi Arabian market and the essential joint action for Hungarian businesses.

“The Saudi market is very demanding of the acquisition of Western know-how, but as Hungarians we can only enter the market properly if we do not do it alone. The Hungarian-Saudi Arabia Digitalization Cluster provides special support for this”

– highlighted Sándor Faragó, who plays a prominent role in the tireless work together with the embassy in Riyadh.

The Cluster aims to establish lasting and valuable business relationships between the Central-Eastern Europe and the Middle East regions. Since its establishment, nearly ten companies have joined the Cluster, which together employ around 1,000 people.

One of the highlights of the professional program of the open day was a presentation by Professor Rashed Daher, who guided the participants into the world of Arab business culture, negotiation strategies and market characteristics. With his presentation, he contributed to the audience’s deeper understanding of the functioning of the Saudi market, thus helping Hungarian companies to successfully enter the market.

The Hungarian-Saudi Arabian Digitalization Cluster is committed to building a network that allows Hungarian and Saudi Arabian companies involved in digitalization to gain insight into each other’s business practices and culture. “This cooperation builds a bridge between the two regions and paves the way for more effective partnerships at the global and regional levels,” emphasized Attila Sárdi, Secretary of the Cluster.