Tuesday, May 21, 2024

Monsha’at Showcases Saudi Entrepreneurship at Franchise Expo Paris 2024


Monsha’at Leads Saudi Delegation at Franchise Expo Paris 2024

In a significant move to propel Saudi entrepreneurship onto the global stage, the Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia, popularly known as Monsha’at, made a pronounced appearance at the Franchise Expo Paris 2024. The event, a cornerstone for aspiring and established franchise entrepreneurs worldwide, witnessed participation from Monsha’at alongside 18 prominent Saudi brands, underscoring the dynamic and diverse landscape of Saudi Arabia’s small and medium-sized enterprise (SME) sector.

The Franchise Expo Paris, which took place from 16 to 18 March at Porte de Versailles in Paris, France, offered a prime opportunity for Monsha’at and its accompanying delegation to highlight the innovation, growth, and entrepreneurial spirit driving the Saudi SME space. This endeavor is part of Monsha’at’s broader mission to transition the Saudi economy into a more diverse and sustainable one.

This year’s delegation featured a broad spectrum of industries, from traditional oud producers to modern cafes and innovative medical laboratories. Businesses such as Dkhoon, AbdulGhani, Dr’s Lounge, Mantorose, Key CafĂ©, Yelo, 3days, Al Dakheel Oud, Barn’s, Bazil, the i-be innovation and Entrepreneurship Center, Delta Medical Laboratories, and Blueage represented the Kingdom. They were accompanied by Mamola, Saadeddin Pastry, Richy, Munch Bakery, and Kleen, each showcasing their unique contributions to the Saudi SME landscape.

Sami Al Hussaini, Governor of Monsha’at, commented on the significance of their participation, “Franchise Expo Paris 2024 provided us with an ideal backdrop to exhibit the advances we’ve achieved in fostering a conducive investment environment. Our dedicated pavilion welcomed a diverse audience, offering insights into our initiatives and facilitating the introduction of 18 leading Saudi brands to an extensive network of potential international partners.”

The participation aligns with Monsha’at’s strategy for international engagement, marking its continued presence in global events to forge partnerships and expand the outreach of Saudi SMEs. “We are eager to engage with more businesses, both from France and globally, as we believe in the power of collaboration to unlock the Kingdom’s economic potential,” added Al Hussaini.

Hosted by Infopro Digital and sponsored by the Ministry of Economy, Finance, and Industrial and Digital Sovereignty, the Franchise Expo Paris annually draws over 30,000 attendees from across the globe. Its objective is to connect brands, investors, franchisees, and franchisers under one roof to network, explore opportunities, and discuss the evolving landscape of the global franchise sector.

By presenting a diverse range of industries at a prestigious international platform, Monsha’at not only showcased the potential and growth of the Kingdom’s SME sector but also aligned with the goals of Saudi Vision 2030. The strategic engagement at the expo facilitated international networking and spotlighted Saudi Arabia’s evolving role as a vibrant investment destination.

In concert with the objectives of Vision 2030, Monsha’at’s involvement in the expo extends its dedicated efforts to empower SMEs and brands to reach their full potential. According to the authority’s Q4 2023 quarterly report, the SME sector in Saudi Arabia saw a growth of 3.1%, reaching over 1.3 million in the last quarter of 2023, a testament to the flourishing entrepreneurial ecosystem in the Kingdom.

Through initiatives like these, Monsha’at continues to bolster its commitment to developing a robust and thriving SME sector, pivotal in driving forward the economic diversification and sustainability of Saudi Arabia.

Alexandra Bennett
Alexandra Bennetthttps://www.businessorbital.com/
Alexandra Bennett is a seasoned business journalist with over a decade of experience covering the global economy, finance, and corporate strategies. With a Bachelor's degree in Economics and a Master's in Business Journalism from Columbia University, Alexandra has built a reputation for her insightful analysis and ability to break down complex economic trends into understandable narratives. Prior to joining our team, she worked for major financial publications in New York and London. Alexandra specializes in mergers and acquisitions, market trends, and economic

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