30 August ‎ 2022 | TDF in the News

TDF Signs MoU with Jahez Company to Provide Credit Facilities to Jahez’s Clients to Enhance Restaurants and Cafés Sector’s Activities in Tourist Destinations

The Tourism Development Fund (TDF) signed here today a memorandum of understanding (MoU) with Jahez company, which is specialized in providing delivery services for restaurants and cafés.

Through 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, with the aim of expanding 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.

The MoU was signed in the presence of the TDF's CEO, Qusay bin Abdullah Al-Fakhri, and the CEO of Jahez, Eng. Ghasab Al-Mandeel. This signing comes within the framework of the TDF's keenness to develop tourism projects in the Kingdom, and to support and encourage the private sector, especially micro and small enterprises, which constitute more than 90% of the tourism sector, with the aim of achieving the objectives of the National Tourism Strategy, and developing tourist destinations that enjoy competitive advantages, in accordance with the national goals of tourism and the Kingdom’s Vision 2030.

On this occasion, Al-Fakhri, said: "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."

For his part, Eng. Ghasab Al-Mandeel, said: "By signing the MoU with the TDF, we hope to provide everything possible to enhance the role of the restaurants and cafés in tourism sector in the Kingdom, support investors and enable them to expand their activities in tourist destinations, and encourage them to continue and progress".

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