Putrajaya, 11 December 2023,
The Ministry of Domestic Trade and Cost of Living (KPDN) plans to restructure the franchise business ecosystem to make it more conducive.
Its Acting Minister Datuk Armizan Mohd Ali said this will be among the main objectives of the National Franchise Policy 2030 (DFN2030).
“This is to ensure that the country’s franchising becomes an economic system with a higher economic value chain to uplift people’s socio-economics and also the creation of income-generating jobs,” he said.
He said the ministry also aimed to drive Malaysia to be a regional franchising leader, especially in Southeast Asia, through the DFN 2030.
“Hence, through DFM 2030, we also set a target that the Malaysia franchise industry will be leading in the regional franchise industry. Especially in Southeast Asia,” he said.
Citing research reports from World Franchise Forecast 2024 and Asean Franchise Report 2024 for Southeast Asia, he mentioned the market trend of the franchise industry is expected to grow.
Looking into the trend, he encouraged Malaysia to tap and leverage the activities in the potential market growth in the domestic, regional and global markets.
Previously, it was reported that the ministry aims to generate RM100 billion in sales within the franchise industry by 2030.
With the policy targeted to be executed by the first quarter of 2024, Armizan said that it will be able to enhance Malaysia’s franchise industry to the international level.
Full Article: https://www.malaymail.com/news/malaysia/2023/12/11/domestic-trade-ministry-aims-to-enhance-malaysias-franchise-industry-to-international-standard/106991