Cairo: Oct 9th, 2018
Cairo will host the meetings of the World Franchise Council (WFC) represented by the Egyptian Franchise Development Association (EFDA). This international gathering includes 46 franchise associations representing 43 countries in addition to the European Franchise Federation and Asia-Pacific Franchise Federation and IBRO- American. This comes in coincidence with holding the 16th Franchise Exhibition from 17-19 November at the Nile Ritz-Carlton Hotel under the Patronage of His Excellency Prime Minister Dr. Mustafa Madbooli.
During the press conference held today, Senior Director of Egyptian Franchise Development Association, Mr. Tareq Tawfiq said that this exceptional event that the association is organizing this year by holding the meetings of the World Franchise Council where 46 entities who represent thousands of franchise enterprises is considered a momentum opportunity for franchise providers so that they can present their brands and disseminate their activities in the exhibition being held in the same period.
He also added that the meetings of the World Franchise Council in Egypt coincide with organizing the Annual World Exhibition under the patronage of the His Excellency Prime Minister Dr. Mustafa Madbooli. This exhibition aims to provide a large number of franchise opportunities locally and internationally. It also seeks to encourage the local and international investors by promoting the noteworthy investments. This event also opens the door wide before the local and international exhibitors to hold commercial deals with investors.
The Secretary General of World Franchise Council, Dr. Hatem Zaki said that these meetings in Cairo for the first time since its emancipation in 1994 aim to raise international awareness and promotion about franchise system. They also aim to facilitate the best practices in running franchise associations among their members. Furthermore, they aim to encourage the countries where there are no such associations to seize the opportunity and start establishing association to develop the commercial franchise internationally.
According to the latest survey conducted by World Franchise Council among its members about the economic effect worldwide, he said that this gathering represents 40,000 international brands under which 2,600,000 outlets /store are operating around the world. This equals around 2.7% of the Gross Domestic Product (GDP). In the companies working by the franchise system, 29 million direct workers are working worldwide.
He added, the franchise guarantees for the franchise provider the opportunity to expand by the commercial brand outside his country because the markets are open for consumers of foreign products and services. This in turn benefits the local economy. For this reason, franchise plays a vital role more than ever in promoting the world economy.
He pointed out that this franchise under the title of “Social Franchise and Sustainable Development” will include a panel of ministers to discuss the relationship between social responsibility and social franchise. Another panel will be held about the effect of social franchise in economic empowerment and social well-being and creating new job opportunities. It is worth mentioning that last March, the Egyptian Franchise Development Association (EFDA) was elected by an overwhelming majority as a President of the World Franchise Council General Secretariat for 2 years.
A brief about WFC:
The World Franchise Council was established in 1994 for the purpose of raising awareness and promoting international franchise system and facilitating the best practices in running franchise associations among members. It also aims to encourage and urge countries with no franchise associations to establish them so that they can help franchise develop internationally.
World Franchise Council represents more than 40,000 international commercial brands under which 2,600,000 stores / outlet are operating around the world. They produce almost 2.7% of the Gross Domestic Product. Currently and around 29 million direct workers are working in the franchise companies.
A brief about the Egyptian Franchise Development Association:
The Egyptian Franchise Development Association (EFDA) is a non-profitable civil association registered under the (No. 518 for the year 2001). It aims to encourage investment through franchise system and transfer the international experience to Egypt. It also aims to encourage investment there and create new job opportunities. It is operating member in the World Franchise Council since its launch in 2005.