Minister of Investment and International Cooperation Sahar Nasr talks during an interview with Reuters in Cairo, Egypt June 21, 2017 - REUTERS/Mohamed Abd El Ghany
CAIRO – 28 January 2018: A franchise forum will be held in Assuit governorate in the second half of February under the auspices of the Ministry of Investment and International Cooperation, Marwan Abdel Razek, member of the Cairo Chamber of Commerce and Chairman of the Franchise Jet Forum said Saturday.
The forum, the first of its kind in Upper Egypt, aims at supporting small- and medium-sized enterprises in Assuit, creating jobs and introducing renowned franchises to Upper Egypt.
Abde Razek said that the Franchise Jet Forum has achieved success in its first edition in Cairo in February 2017 and in its second one in Mansoura city last September.
He further praised Minister of Investment and International Cooperation Sahar Nasr’s constant support for the forum in different governorates and her efforts in supporting investment.
Franchising is the business practice of emulating a fully-operational business in the same format elsewhere in order to produce the same product or service under the same name, but under different local ownership, and to generate new profits.
Egypt has been prioritizing the development of Upper Egypt recently. Government’s investments in northern Upper Egypt reached LE 6.92 billion during the current fiscal year 2017/18, representing 3.6 percent of total investments.
Minya governorate is the top recipient of these investments, with 48.9 percent, followed by Beni Seuf and Fayoum.
This month, President Abdel Fatah al-Sisi inaugurated a number of development projects in the Upper Egypt governorates, including housing projects and water stations.