The Launch of the Saudi Franchise Expo

The Launch of the Saudi Franchise Expo
The Launch of the Saudi Franchise Expo

The Saudi Franchise Expo was launched in Ash-sharqiyah (Eastern Province) Saudi Arabia, yesterday, Friday and to be continued for three days in Dhahran International Exhibition Center Dhahran Expo, KSA.

The exhibition is held with the participation of Monsha'at (Small &Medium Enterprises General Authority), Ash-sharqiyah chamber, EasternEamana, Ministry of Labor and Social Development, Jazan chamber events, Riyadah institute, Social Development Bank, Dulani BusinessCenter, and Ministry of Commerce and Development.

During the three-day event, a group of specialized speakers in the legal,development, and advisory aspects in Franchisewill have talks through workshops aimed at supporting the sector and raisingawareness of the franchise benefits and added value to the national economy.

Abeer Julaih, the Executive Director of the franchise expo, welcomed the participants and thanked Saud bin Naif, the Prince of the Eastern Region and his deputy for their patronage of the expo and their unlimited support for young men and women. She confirmed that such efforts help the Kingdom reach the level of the developed states under leadership that believes in the power of young men and paving the way for them for achieving the highest economic level that benefits the local income.

For her part, Zeinab Al-Ameen, the director of facilities services sector in Monsha'at noted that the Government's interest in the sector of small and medium enterprises in line with Saudi Arabia's Visionfor2030 aims at supporting those wishing to invest in the franchise system. She added that the franchise system is an important opportunity to launch projects for entrepreneurs who wish to work freely or develop their brands within such a global system. Particularly that this reliable mechanism opens wide horizons to encourage small and medium enterprises, which necessitates establishing a legislative, cultural, and economic structure for its growth, supports the national economy, pushes the sustainable development, and expands the production base globally.

Al-Ameen added that the trade franchise contributes by 4% to the GDP ofcountries with an average of 2 million of trade concessions, creating 19million jobs around the world. Pointing that Monsha'at is working with greatinterest in designing programs and initiatives that contributes to empowering entrepreneurs,supporting small and medium enterprises, finding business opportunities, and transferringtechnology. The franchiseprogram is one of the most important programs that Monsha'at is designed tobuild a flourishing and sustainable franchise industry. The number ofopportunities spreading across the franchise platform, launched in the mid ofthe last year reached 208 opportunities and the number of franchisors reached606, while the number of franchisees reached 1,033, and the number of franchiseapplications was 1,639.

Al-Ameen reported that the program aims at improving the Kingdom's international position and placing it on the global franchising map, encouraging Saudi brands with the ability to manufacture national products and expand internationally, increasing the contribution of franchise to sustainably grow, diversifying and empowering the Saudi economy potentials, sharpening the skills of the franchisor and franchisee as well, and providing the services of the industry in the Kingdom.

Besides, supporting the franchise industry leads to an increasing number ofentrepreneurs in the franchise industry as well as the small and mediumenterprises, the culture of franchise in relation to facilitating the start-upin Saudi Arabia, new job opportunities, a greater contribution of the franchisesector to the GDP, the development of the franchise system, making it aneffective investment force for Saudi companies.

It's also noted that the exhibition hosts, in its second edition, theRepublic of Indonesia as a guest of honor, in the presence of a group ofIndonesian companies and brands.

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