The Saudi Tourism Development Fund (TDF) and the Jahez Group, the leading food delivery platform in the country, have signed a memorandum of understanding (MoU) on financing of micro and small enterprises in the food and beverage (f&b) sector.
The MoU is for TDF to provide its financing solutions and enable financing and investment facilities to the clients of Jahez in the restaurants and cafés sector.
The financing is meant for these micro and small f&b units to expand their activities to select tourist areas and destinations.
Jahez currently has more than 45,000 f&b facilities as clients.
The MoU was signed in the presence of the TDF’s CEO Qusay bin Abdullah Al-Fakhri and the CEO of Jahez, Ghasab Al-Mandeel.
This agreement with Jahez is part of TDF’s efforts to develop tourism projects in the Kingdom by supporting and encouraging the private sector, especially micro and small enterprises, which constitute more than 90 percent of the tourism sector.
TDF CEO Al-Fakhri the proposed financing support was to ensure business sustainability of the large micro and small units in the sector in order to achieve the national tourism strategy and the Kingdom’s Vision 2030.
Ghasab Al-Mandeel said the agreement with TDF would help Jahez to play a key role in the expansion of its clients to major tourist destinations in the country.
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