Riyadh - Exclusive Sharikat Mubasher: Perbadanan Nasional Berhad (Pernas), a government-owned agency that leads the development of the franchise industry in Malaysia, signed a memorandum of understanding with Saudi Arabia’s Small and Medium Enterprises General Authority (Monsha’at) to enhance the franchise industry in both countries.

In an interview with Sharikat Mubasher on the sidelines of Biban 2024, Hazina Mohamad, Head of the Corporate Strategy Division at Pernas, stated that the agreement targets fostering innovation and sharing best practices in the franchise sector between both countries.

Mohamad elaborated that the MoU will enhance and facilitate the entrance of Saudi and Malaysian brands into their respective countries.

She noted that both entities will work together to develop policies and regulations that suit the franchise players in both countries.

Furthermore, Mohamad stated that the collaboration aims to exchange knowledge, enhance skills, and build capacities.

The official affirmed Pernas’ commitment to developing the franchise sector as a whole ecosystem that includes logistics, supply chain, manufacturing, wholesaling, and infrastructure.

Biban 2024, organized by the Small and Medium Enterprises General Authority (Monsha’at), convened in Riyadh from 5 to 9 November, with the participation of more than 1,350 local and international exhibitors, over 250 speakers, and more than 150 enablement entities from around the world.

It targeted creating a stimulating environment, raising administrative, financial, and technical competencies, and motivating the owners of ideas to launch their projects by allowing them to meet with local and global experts and share knowledge with key decision-makers and investors.