PUTRAJAYA: The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) aims for a potential investment of RM100 million through Malaysia’s involvement in the BIBAN24 International Exhibition in Riyadh, Saudi Arabia, scheduled for November 5 to 9, 2024.
Datuk Ewon Benedick, the Minister of Entrepreneur Development and Cooperatives, who is leading the delegation at the exhibition, said that this initiative demonstrates KUSKOP’s dedication to enhancing strategic partnerships between Malaysia and Saudi Arabia, especially in the franchise and Small and Medium Enterprises (SMEs) sectors.
He has engaged in several important discussions, including a meeting with Kudu Company for Food & Catering, a major food franchise in Saudi Arabia.
This meeting has paved the way for greater business collaboration in the food and service industries, facilitating Malaysian brands’ entry into the Saudi market.
On Nov 5, Ewon opened the Malaysian Entrepreneurs Pavilion, a key platform for showcasing the skills and innovations of Malaysian entrepreneurs to the global market.
During the same event, a Signing Ceremony took place for the Memorandum of Understanding (MoU) between SME Corp. Malaysia and Monsha’at, as well as between PERNAS and Monsha’at.
This MoU is a significant move to enhance cooperation in developing SMEs and franchises between the two nations.
The BIBAN24 exhibition at the Riyadh Front Exhibition and Conference Center (RFECC) has become a global hub for entrepreneurship, and the Malaysian Pavilion is anticipated to draw interest from industry leaders worldwide.
The business matching program and negotiation sessions are expected to create new opportunities for Malaysian firms aiming to grow their presence in the Middle East.
On November 6, the Minister led a Round Table Meeting with the Riyadh Chamber of Commerce, connecting Malaysian entrepreneurs with local Saudi investors and business owners.
This meeting is expected to inspire new business partnerships, boosting bilateral trade.
Ewon also engaged in strategic talks with Tamimi Market, one of Saudi Arabia’s largest retail chains. This discussion aims to help Malaysian companies broaden their product and service offerings in the Saudi market.
Malaysia’s involvement in BIBAN24 is part of the ongoing Malaysia MADANI initiative, which focuses on sustainability, inclusive growth, and enhancing international economic ties.
