Bernama – 25 Februari 2016
PUTRAJAYA, Feb 25 (Bernama) — About 1,000 franchise brands are expected to be registered with the Domestic Trade, Cooperatives and Consumerism Ministry by year-end.
Its minister, Datuk Seri Hamzah Zainudin said the brands were expected to contribute RM28 billion to the country’s gross domestic product.
“Until Feb 15, a total of 809 franchises have been registered with the ministry.
“I know this is not easy as we are facing global economic slowdown, but I believe it is not impossible for us to achieve the target,” he said at the ‘Power Dinner: An Evening With Franchisors’, here tonight.
On the success of Malaysian home-grown franchises abroad, Hamzah said 61 Malaysian franchise brands, involving 2,453 outlets, made their forays into 56 countries.
Meanwhile, Hamzah said the ministry would hold the Franchise International Malaysia (FIM) 2016 at the Putra World Trade Centre from May 6 to 8.
“We are targeting investments worth RM400 million from the sales of franchise systems to 1,000 potential franchisees through some 120 exhibitors,” he said.
Over 250 industry players and 12,000 visitors are expected to attend the 23rd FIM.