Ministry of Energy signs deal with Monsha'at to organize fuel station franchises

The signing of the agreement

The Ministry of Energy signed a cooperation agreement with the Small and Medium Enterprises General Authority (Monsha'at), on the sidelines of Biban Forum 23 on March 10, to organize the service of granting franchises to fuel stations.

In a statement, the ministry indicated that the agreement aims to develop cooperation between the two parties in the fuel stations sector, which will enable investors and entrepreneurs to obtain franchises from the establishments qualified to manage and operate such stations.

The move aims to boost the quality of services provided, maximize added value, overcome economic challenges, and ensure security of supply in the sector. It is also to provide programs as well as advisory and training services to support the franchise parties.

The deal also reflects the importance of SMEs in supporting the national economy, accelerating the economic development, and expanding the production base in line with Vision 2030.