Khaled Al-Ghamdi, Chairman of the National Franchise Committee at the Federation of Saudi Chambers, said that the value of the franchise industry in the Kingdom is estimated at about $15 billion (about SAR 53 billion), adding that the Kingdom is one of the largest franchise hubs in the Middle East.
There are more than 1,200 registered trademarks in the Kingdom’s franchise sector, which is witnessing remarkable expansion, as brands grow at an annual rate of 27%, Al-Ghamdi added, during an interview with Argaam on the sidelines of the Saudi International Franchise Exhibition in Riyadh.
He pointed out that the committee, in cooperation with success partners, is currently working on exporting the Saudi franchise to foreign markets, starting with East Asian countries such as Malaysia, Singapore, and Indonesia. He indicated that studies have been conducted to support local companies wishing to expand through franchise outside the Kingdom.
Further, there is a move to empower Saudi franchises in Europe and the US, where Saudi products are globally appreciated for their quality and compliance with Halal standards, especially in the foodstuff sector, which will greatly enhance the opportunities for restaurants and cafes to spread, according to the official.
Al-Ghamdi also clarified that the committee is currently studying the establishment of a floating exhibition on board the cruise, sponsored by the Public Investment Fund (PIF and the Federation of Saudi Chambers, which aims to bring together those interested in the franchise sector, in addition to attracting Saudi brands wishing to expand abroad.
He stressed that the committee aims to empower the business sector in the field of franchises, whether inside or outside the Kingdom. He indicated that the committee seeks, through its ambitious goals, to empower the private sector to achieve expansion, in addition to giving Saudi brands opportunities to expand and export to global markets.
Khaled Al-Ghamdi, Chairman of the National Franchise Committee at the Federation of Saudi Chambers, said that the value of the franchise industry in the Kingdom is estimated at about $15 billion (about SAR 53 billion), adding that the Kingdom is one of the largest franchise hubs in the Middle East.
There are more than 1,200 registered trademarks in the Kingdom’s franchise sector, which is witnessing remarkable expansion, as brands grow at an annual rate of 27%, Al-Ghamdi added, during an interview with Argaam on the sidelines of the Saudi International Franchise Exhibition in Riyadh.
He pointed out that the committee, in cooperation with success partners, is currently working on exporting the Saudi franchise to foreign markets, starting with East Asian countries such as Malaysia, Singapore, and Indonesia. He indicated that studies have been conducted to support local companies wishing to expand through franchise outside the Kingdom.
Further, there is a move to empower Saudi franchises in Europe and the US, where Saudi products are globally appreciated for their quality and compliance with Halal standards, especially in the foodstuff sector, which will greatly enhance the opportunities for restaurants and cafes to spread, according to the official.
Al-Ghamdi also clarified that the committee is currently studying the establishment of a floating exhibition on board the cruise, sponsored by the Public Investment Fund (PIF and the Federation of Saudi Chambers, which aims to bring together those interested in the franchise sector, in addition to attracting Saudi brands wishing to expand abroad.
He stressed that the committee aims to empower the business sector in the field of franchises, whether inside or outside the Kingdom. He indicated that the committee seeks, through its ambitious goals, to empower the private sector to achieve expansion, in addition to giving Saudi brands opportunities to expand and export to global markets.
