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Eppco signs deal with Khalifa Fund

Emirates Petroleum Product Company (Eppco) signed a Memorandum of Understanding (MoU) with Khalifa Fund for Enterprise Development, to support young Emirati entrepreneurs to set up and operate Enoc’s Zoom convenience stores across the different Emirates in the UAE starting with Abu Dhabi.

The MoU was signed by Ibrahim Al Mansoori, COO of Khalifa Fund, and Taleb Al Saleh, director of retail operations and marketing of Enoc Retail.

Al Mansoori said: “One of the strategic goals of the UAE Government is to promote youth entrepreneurship, especially by promoting the small and medium business sector, which contributes significantly to the national GDP. The MoU will serve as a strong platform for young Emiratis to leverage the growth potential offered by the retail sector, while also benefiting from the extensive training and franchising support offered by Zoom. The MoU will benefit entrepreneurial Emiratis to further strengthen our retail sector across all Emirates by offering world-class services.”

Burhan Al Hashemi, managing director of Enoc Retail, explained: “Franchising is one of the strong growth areas in the Middle East region, valued at over $30 billion. We are thankful to Khalifa Fund for supporting retail franchising opportunities among Emirati youth, which is aligned with the vision of the UAE Government to empower our young talent and create entrepreneurial opportunities.”

— business@khaleejtimes.com