The Hungarian Trade and Cultural Center (HTCC) is going to open a new sub-office in Gambia, the smallest African country, globoport.hu was informed.
HTCC is present in several countries and has four sub-offices in Africa so far: in Morocco, in Uganda, in Botswana, and in Malawi. Gáspár Gulyás, the designated manager of Banjul HTCC gave an exclusive interview to Globoport about the office’s goals and their work.
Gulyás said that although Gambia is a really small country it has great a potential. The country is a member of the Economic Community of West African States (ECOWAS), which is the biggest and most dynamically developing market of Africa, and Gambia can be a great stepping stone for Hungarian companies to have access to the resources of the ECOWAS.
Gambia is a transparent country, Gulyás said, but it’s one of the most stable countries of Africa, and the safety of any investment is guaranteed. As a country used to be a British colony the English language and the British law systems are official in Gambia. The country is a great starting point for anyone who wishes to do business in Africa, Gulyás added. The sub-office is planned to open in March or April 2016.
Hungary has many opportunities in Gambia in agriculture, education, and tourism. The Hungarian companies could export the technologies necessary to grow excellent crops, and they also have great expertise in the field. But opening a hotel in the country would also be a great decision, as Gambia’s tourism is booming, and thousands of people are having their holidays there. The country is nicknamed “the smiling coast of Africa.”
Although Gulyás sees many more opportunities in Gambia for Hungarians, such as in the food industry, the manager also said that there’s already a strong competition in the country. Still, if companies have quality goods, good prices and marketing, there’s a chance to make business.
There are some negative news from Gambia, such as the planned coup d’état in 2015, or the rumoured announcement that the country is an “Islamic State”, but these are mostly false accusations, Gulyás said. It’s important for this small African country to be stable and keep foreign investors within the borders, and the leaders wouldn’t risk the chance of having negative publicity. Gulyás is confident that these rumours would stop and won’t influence the country’s economy and the decision of foreign investors.
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