CAIRO: Egypt is holding a conference and exhibit for franchise business from 22 to 25 May, 2014. Franchise businesses in Egypt are 600 systems that vary between national and international systems of a total of 12 billion EGP sales per year. The franchise system provides 800,000 direct job opportunities and 500,000 indirect job opportunities.
Feeding industries specialized for this industry reach 80 billion EGP, head of the Egyptian Association for Franchise Tarek Tawfik said, according to Al-Maal economic news website.
The conference was inaugurated by the Ministry of Supply and Internal Trade Khaled Hanafy, Ministry of Social Solidarity Ghada Waly, and Charge d’Affaires of head of the Social fund for development Hanaa Helaly in the presence of 50 national and international companies. This is the 12th conference in cooperation with Egyptian Business Development Association (EBDA), according to Al-Maal Thursday.
“Franchise is considered to be a push for Egyptian economy in its current critical situation,” Tawfik said, according to Mubasher info Thursday. Despite the critical situation Egypt is going through, it was able to hold the conference on its due date with the participation of the U.S., Malaysia, Greece, Italy, and Germany.
Helali also said the social fund “is keen on funding small enterprises funded through franchise.” This is done by establishing an administration to offer technical, administrative, and legal support for youth willing to establish small enterprises using the franchise system Al-Maal added.