Abu Dhabi, UAE: The 6th edition of the International Franchise Exhibition (IFE), organized by the Abu Dhabi Chamber of Commerce and Industry at ADNEC, concluded yesterday. Attracting more than 5,000 participants and a delegation from the Korean International Trade Association, the two-day event cemented its position as a global trade-fair for international franchise firms.
His Excellency Mohamed Helal Al-Muhairi, Director General of the Abu Dhabi Chamber of Commerce and Industry, said: “This event has proved itself to be one of the leading events in the franchising industry, through highlighting investment opportunities and nurturing the franchise business environment. International brands have been introduced to the exciting potential Abu Dhabi holds as a franchise market. The high level of participation that the exhibition enjoyed this year will help promote the investment ecosystem, both in Abu Dhabi and in the UAE.”
During the event, several cooperation agreements were signed between franchise enterprises and local, regional, and international companies. These partnerships fall in line with the exhibition’s role in promoting the economy, entrepreneurship and diversified investments.
Alongside numerous other activities, workshops were held to support the development of young Emirati entrepreneurs and encourage their involvement in the franchising sector. International industry experts from the field ran additional sessions focused on the business sector in the UAE, providing advice on improving the performance of franchise businesses and accruing business acumen. Also discussed was how to develop the franchise model, as well as tailored advice on the establishment and operation of a franchise.
Korean Delegation Hails the Exhibition
His Excellency Han Jin-hyun, Vice Chairman of the Korea International Trade Association, commended the International Franchise Exhibition 2018. His excellency headed a delegation of more than 30 Korean businessmen and investors.
During his visit, H.E. Jin-hyun said: “I was impressed by the level of organization, as well as the overwhelming attendance - especially by entrepreneurs and investors. This highlights Abu Dhabi’s commitment to becoming a leader in the franchising industry.”
H.E. Jin-hyun stressed that Korean businesses are ready to participate in the coming edition of the event, given the excellent organization and the investment opportunities it provides. The event also promotes partnerships between the South Korean market and local and global companies and enterprises attending the exhibition in Abu Dhabi.
Franchise Contracts
During the 6th edition of the exhibition, several franchising agreements were signed between franchise owners and entrepreneurs from various participating countries.
The agreements signed included a number of UAE brands, such as Sushina. Sushina is a Japanese restaurant with an Emirati twist, and was a project funded by the Khalifa Fund for Enterprise Development. The owner of Sushina, Mansour Al Hosani, signed a cooperation agreement with Mohammed Al Khouri, an Emirati investor, to franchise the Sushina brand within the UAE.
Al Hosani stressed the importance of the event in providing opportunities to entrepreneurs to expand their investments and leverage the best international expertise and practices in the global franchising industry.
In addition, Low Calories restaurant signed a cooperation agreement with a Saudi investor. Nasser Al Musabi, the restaurant’s owner said: “This agreement aims to expand the enterprise outside the UAE as per the franchising laws.” Al Musabi also emphasized the importance of the exhibition in introducing business owners to the best brands and facilitating cooperation between entrepreneurs from various countries.
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