Minister of Industry Tarek Kabil during the inauguration of the fair - Press photo
CAIRO – 10 May 2017: Minister of Trade and Industry Tarek Kabil inaugurated on Wednesday the 15th MENA International Franchise Exhibition (MIFE) which takes place in Cairo from 10-12 May.
The exhibition is the largest franchise fair in the region; it includes 88 exhibitors.
Kabil said that franchise projects are “good “and guarantees success to many entrepreneurs who want to establish their own projects because they depend on the experience and success of affiliated international businesses.
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.
Kabil said that the participation of foreign companies in the exhibition sends a positive message that Egypt has big investment opportunities and that the Egyptian market has the potential to harbor various investments.
Kabil encouraged the youth to establish their own franchise projects, confirming the government’s keenness to develop and support small-and medium-sized enterprises (SMEs) as they are key in developing the Egyptian economy and providing jobs. He referred to the newly established entity that is dedicated to support SMEs.
Many fields are represented in this year’s exhibition such as education, technology, stationeries, restaurants, clothes and cosmetics, said Tarek Tawfik, Head of the The Egyptian Franchise Development Association (EFDA), which organizes the exhibition.
He added that the Egyptian market include more than 90 million consumers, which will help these businesses grow fast.