Time: April 28, 2019
- Franchising generally involves companies providing the services or goods of another company for a fee
ALKHOBAR: Franchising presents an opportunity to encourage foreign investment in Saudi Arabia and promote local brands abroad, according to delegates at the World Franchise Expo.
The three-day expo was launched on Thursday under the patronage of Prince Ahmed bin Fahd bin Salman bin Abdul Aziz, deputy governor of the Eastern Province, at the Dhahran International Exhibitions Center.
Franchising generally involves companies providing the services or goods of another company for a fee. Major franchise operations include McDonalds and Coca Cola.
Participants at the expo included representatives of the Small and Medium Enterprises General Authority (Monshaat), the Eastern Province Secretariat, the Asharqia and Jazan chambers of commerce, the Ministry of Labor and Social Development, the Social Development Bank, the Entrepreneurship Institute, and the Ministry of Commerce and Investment.
Monshaat’s services department director, Zeinab Al-Amin, commended the government’s interest in the small and medium enterprises sector as part of the Kingdom’s Vision 2030 reform plan. SPA Alkhobar
“The franchising system is an opportunity to launch entrepreneurship projects,” she said. “It provides a wide range of choices to encourage small and medium projects, which help support the national economy and sustainable development.”