News | Things Of Business

PARIS, March 21, 2024 -- Reaffirming its commitment to advancing Saudi entrepreneurship, Monsha'at, the Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia, participated in the 2024 edition of Franchise Expo Paris: the leading business event for franchise entrepreneurs.

Monsha'at took part in the international exhibition — alongside 18 innovative Saudi brands from a broad cross-section of industries and sectors — to showcase the growth and diversity of the Kingdom's small and medium-sized enterprises (SME) space and build on its efforts to transform the Saudi economy.

Held from 16 to 18 March at Porte de Versailles in Paris, France, the gathering provided a timely platform for Monsha'at to shine a light on its delegation of 18 brands, enabling each entity to raise its profile, explore networking and partnership opportunities, and expand internationally.

These brands included Dkhoon, AbdulGhani, Dr's Lounge, Mantorose, Key Café and Yelo. They were joined by 3days, Al Dakheel Oud, Barn's, Bazil, the i-be innovation and Entrepreneurship Center, Delta Medical Laboratories and Blueage. The Monsha'at delegation also comprised of companies such as Mamola, Saadeddin Pastry, Richy, Munch Bakery and Kleen.

Sami Al Hussaini, Governor of Monsha'at, said: "Franchise Expo Paris 2024 served as the perfect platform for us to showcase the strides we have made as an investment destination. We welcomed attendees and participants to our dedicated pavilion, offering more insight into our ongoing work and initiatives. This enabled us to spotlight the inventiveness of 18 leading Saudi brands and connect them to a wider network of international partners."

He added: "Taking part in the expo is fully aligned with our strategy of international engagement and follows our participation in a range of global events and gatherings. We look forward to collaborating with more businesses, franchises and franchisers from France and around the world; with this global outlook and commitment to effective partnership-working being key to unlocking the Kingdom's economic potential."

Organized by Infopro Digital — under the sponsorship of the Ministry of Economy, Finance and Industrial and Digital Sovereignty — Franchise Expo Paris attracts over 30,000 participants from around the world every year.

The expo was launched to bring brands, investors, franchisees and franchisers together — under one roof — to network, explore partnership opportunities and discuss the future of the global franchise ecosystem.

By showcasing diverse industries at a leading global platform, Monsha'at not only highlighted the growth and potential of the Kingdom's SME sector but also aligned its efforts with Saudi Vision 2030. This strategic engagement facilitated international networking, emphasizing the Kingdom's role as a dynamic investment destination and its endeavors in fostering a supportive ecosystem for franchises, as demonstrated through the establishment of Monsha'at's Franchise Center.

In line with Vision 2030, Monsha'at's participation in the event extends its ongoing work to empower SMEs and brands to fulfil their potential. As highlighted in Monsha'at's Q4 2023 quarterly report, the number of SMEs in Saudi Arabia grew an impressive 3.1% in Q4 2023 to more than 1.3 million.