RIYADH: Saudi brands will showcase the Kingdom’s $30 billion franchising industry at Moscow’s BuyBrand International Franchise Expo in October, part of a broader push to expand their global footprint and attract overseas investment.
The National Committee for Franchising, under the Saudi Chambers of Commerce, said the Kingdom’s pavilion will run from Oct. 1 to 3 in cooperation with the Saudi Commercial Attache in Moscow and the Ministry of Investment’s office in Russia, according to a press release.
Saudi Arabia’s franchising sector is the largest in the Middle East, with more than 1,000 local and international brands. It is expanding about 15 percent annually and supports hundreds of thousands of jobs, making it a key pillar of the Kingdom’s non-oil diversification strategy.
Khalid Al-Ghamdi, chairman of the National Committee for Franchising, said: “Saudi participation in this global exhibition reflects the strength of the Kingdom’s franchising sector, which exceeds $30 billion and grows at an annual rate of 15 percent.”
He added: “This participation also represents a cornerstone in supporting Saudi Vision 2030 by developing the non-oil economy and enabling Saudi brands to expand globally.”
