Saudi TDF signs MoU with Jahez to enhance restaurants & cafes sectors

By Shilpa Annie Joseph, Official Reporter
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Saudi Arabia
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Saudi Arabia’s Tourism Development Fund (TDF) has signed a memorandum of understanding (MoU) with region’s leading food delivery firm Jahez in order to improve the restaurants and cafés sector’s activities in tourist destinations.

Under the MoU, the TDF will provide its financing solutions and provide the opportunity to obtain financing and investment facilities for Jahez clients of micro and small enterprises, which amount to more than 45,000 facilities operating in the restaurants and cafés sector.

According to the statement, “It will also help to expand its activities in the targeted tourist areas and destinations, and to ensure its sustainability and business continuity in those areas, in accordance with the National Tourism Strategy.”

This signing comes within the framework of the TDF’s keenness to develop tourism projects in the Kingdom as well as to support and encourage the private sector, especially micro and small enterprises, which constitute more than 90 percent of the tourism sector.

On this occasion, TDF’s CEO, Mr. Qusay bin Abdullah Al-Fakhri said that, “The signing of the MoU with Jahez reflects the keenness of the TDF to support, empower and encourage the private sector, especially micro and small enterprises, by facilitating procedures, providing financing solutions and providing the necessary support to ensure business sustainability, in order to achieve the National Tourism Strategy and the Kingdom’s Vision 2030.”

“By signing the MoU with the TDF, we hope to provide everything possible to enhance the role of the restaurants and cafés in the tourism sector in the Kingdom, support investors and enable them to expand their activities in tourist destinations, and encourage them to continue and progress,” commented Eng. Ghasab Al-Mandeel, CEO of Jahez.

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