65 Home-Grown Malaysian Franchise Brands Make Global Forays

PUTRAJAYA (Malaysia), Feb 6 (Bernama) – Malaysia’s franchise industry has shown an impressive growth with 65 home-grown brands succeeded in making inroad in 66 countries. Deputy Domestic Trade, Cooperatives and Consumerism Minister Henry Sum Agong attributed this to relentless efforts by industry players, as well as the outcome of the annual Franchise International Malaysia (FIM) held by the ministry together with the Malaysian Franchise Association (MFA) since 1993. “As the largest annual franchise event in Southeast Asia, FIM provides the best platform to support the government’s efforts in producing more franchise entrepreneurs,” he told a press conference after the pre-launch of the FIM 2018 here Tuesday. Also present was MFA President Radzali Hassan. Henry said so far 851 local franchise brands had been registered with the ministry. “FIM also provides local franchise entrepreneurs with the opportunity to learn from and collaborate with international franchise entrepreneurs, allowing them to exchange knowledge, experience and ideas to foster the development of the local franchise industry,” he said. He also added that the rapid growth of the local franchise industry enabled it to contribute RM27.89 billion (US$1 = RM3.91) to gross domestic product last year. On the FIM 2018, Henry said the three-day event, which would be held at the Kuala Lumpur Convention Centre starting April 20, would feature 120 local and international exhibitors, comprising 90 franchisors and 30 small and medium enterprises. It is expected to attract about 12,000 visitors, including 300 local and international conference participants, and garner over RM380 million in investments, he said. As the FIM 2018 coincides with its 25th anniversary, he said several new features and improvements would be introduced to the event to ensure it stayed relevant and met the needs of the franchise industry. The FIM is supported by the World Franchise Council, Asia-Pacific Franchise Confederation and Malaysia External Trade Development Corporation. -- BERNAMA