KUWAIT: The US Embassy along with the Francorp, a leading franchising and consulting firm in the US answered queries from local entrepreneurs who attended the franchising activities held at the Al-Shaheed Park. The event was part of a 11-day ‘Discover America event’ which is showcasing products and services from the US ranging from culture, tradition, musical, food, restaurants, business, cars, education and more.
Francorp meanwhile provides a one stop solution for all your franchising need with clients from 45 countries around the world and their experienced is unmatched. “Today’s event is franchising and Investment in the United States opportunities,” said Shari Stout, US Embassy Senior Commercial Officer speaking with the reporters before the event. “We want to help educate Kuwaiti companies on how to invest in the US and help Kuwaitis who are interested in purchasing US franchises, we are expecting attendees to learn and interact with us and be able to help them on their desire to franchise companies,” she said.
Asked on her opinion about Kuwaiti market she noted that Kuwaiti market is a very open market. “It’s an open environment for companies to operate, right now we have over 75 US companies who are here and mostly are in food sector. The market is growing as Kuwait’s economy grows” she said. But she admitted that there are still some challenges.
“Just like in many other markets, there are some rough areas such as in government contacting, I think some companies are having some payment issues – most of which are derived from budgetary constraints of the Kuwaiti economy based on oil prices. But moving forward though what we are looking to is another productive strategic dialogue at least by next year. We will try to tackle issues to make those negatives experiences positive ones,” she emphasized.
By Ben Garcia