KOTA KINABALU: The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) is dedicated to helping small and medium enterprises (SMEs) and franchises grow by entering global markets.
Recently, KUSKOP partnered with the Malaysian Franchise Association (MFA) to host a SME and Franchise Trade Mission in Riyadh, Saudi Arabia.
This event aimed to showcase Malaysian brands and broaden the business connections of local entrepreneurs at the BIBAN24 International Exhibition.
To fulfill the mission’s goals, the Minister of Entrepreneur Development and Cooperatives, Datuk Ewon Benedick, led a KUSKOP team on a two-day visit to Riyadh.
Ewon also guided 30 SMEs, franchises, and national cooperatives at Saudi Arabia’s largest SME business exhibition, BIBAN24.
On the first day, Ewon and Saudi Arabia’s Minister of Commerce, Dr. Majid Abdullah Al-Kassabiah, observed the signing of a Memorandum of Understanding (MoU) between KUSKOP SME Corp Malaysia, PERNAS, and the Monsha’at (Small and Medium Enterprises General Authority) of Saudi Arabia.
Ewon expressed hope that this MoU would enhance cooperation between the two KUSKOP agencies and SME organizations in the Middle East.
The MoU was signed by Rizal Dato’ Nainy, CEO of SME Corp. Malaysia, and Sami Ibrahim Alhussaini, Governor of Monsha’at.
It aims to establish a basic framework for cooperation in information sharing and best practices, with a focus on capacity building and high-growth MSME programs.
On the same day, Ewon officiated the opening of the Malaysia Pavilion at the BIBAN24 International Expo.
A total of 30 SMEs, franchises, and cooperatives from Malaysia participated in the Malaysia Pavilion throughout the five-day expo.
All the entrepreneurs participating in the exhibition are entrepreneurs developed by KUSKOP agencies, namely SME Bank, SME Corp, PERNAS, the Malaysian Cooperative Commission (SKM), and the Malaysian Franchise Association. (MFA).
This exhibition is an important platform to showcase the capabilities and innovations of Malaysian entrepreneurs to the global market.
Also held were business matching programs and consultation sessions that opened new opportunities for Malaysian companies looking to expand their market in the Middle East.
“This is the biggest opportunity for entrepreneurs and Malaysian franchise companies to participate in the largest SME business exhibition in Saudi Arabia, thereby seizing the chance to expand their market or export their products in the Middle East,” said Ewon.
KUSKOP aims for a potential investment of RM100 million through Malaysia’s participation in the BIBAM24 International Exhibition in Riyadh, Saudi Arabia.
Ewon said that the target is a reflection of KUSKOP’s commitment to strengthening strategic cooperation between Malaysia and Saudi Arabia, especially in the franchise and SME sectors.
During the working visit, he also held a series of high-profile discussions, including a meeting with KUDU Company for Food and Catering, one of the largest food franchises in Saudi Arabia.
“I hope this discussion will open up broader business cooperation opportunities in the food and services sector while also helping Malaysian brands penetrate the Saudi Arabian market.”
“KUDU has 330 outlets in 45 cities in Saudi Arabia and has a vision to penetrate the Asian market starting in Malaysia,” he said.
In addition, he also held a bilateral meeting with the Deputy Minister of Trade of Saudi Arabia, Dr. Eman Habbas Al-Mutairi, aimed at strengthening the trade and investment relations between the two countries.
Among the topics discussed were efforts to enhance further concrete measures to generate synergy in the fields of entrepreneurship and industrial development.
Ewon also chaired a roundtable meeting with the Riyadh Chamber of Commerce on the second day of the visit (November 6), which brought together Malaysian entrepreneurs with local Saudi investors and business owners.
“This chamber of commerce has around 400,000 entrepreneurs and business owners in Riyadh and has its own expo centre.”
“Next, I spent time observing the business matching session between Malaysian companies and members of the Riyadh Chamber of Commerce. “The Malaysian companies that participated have great potential to penetrate the Saudi Arabian market,” he said.
He hopes that the session will spark new business collaborations and pave the way for increased bilateral trade.
On the same day, Ewon held a meeting with all SME entrepreneurs, franchisees, and cooperatives participating in the BIBAN24 Exhibition.
“I received positive feedback and very encouraging responses from visitors, potential business partners, buyers, and investors who visited the Malaysia Pavilion to engage directly with the entrepreneurs of this country.”
