Malaysia Offers Vast Opportunities For Foreign Franchise Companies

HO CHI MINH CITY, June 2 (Bernama) -- Malaysia offers vast opportunities for franchise companies from abroad, particularly ASEAN countries, to expand into the local market. Domestic Trade, Cooperatives and Consumerism Minister Hamzah Zainuddin said Malaysia has specific legislation to regulate the franchise industry in order to spur its growth. “Malaysia leads the franchise industry in the region as we are armed with the Franchise Act 1998, and has an inclusive development plan to support the industry. “Not many countries have such laws to regulate the franchise industry like Malaysia," he said during the Malaysia-Vietnam business forum in conjunction with the ninth Vietnam International Retail & Franchise Show here Thursday. Hence, Malaysia is willing to share its experience in the franchise industry development with Vietnam, he said, adding that likewise Vietnam should have similar legislation to enable both countries to make forays into the ASEAN market. He said Malaysia has a dedicated agency, namely Perbadanan Nasional Berhad to provide advice and financial assistance to franchisors and master franchisees to strengthen their capabilities. Hamzah later opened the Malaysia Franchise Pavilion which featured 12 Malaysian home-grown franchisors, namely Global Art, Poney, House of Healin, Place2stay, Old Town White Coffee, The Manhattan Fish Market, Dapur Penyet, Bangi Kopitiam, Constant, Ibu Sayang, Q-dees, and GTC. Seven Malaysian franchise brands, namely Bonia, Gintell, Global Art, U C Mas, Tomei, Lovely Lace, and GTC have already made their presence in Vietnam, boasting 143 outlets between them. -- BERNAMA