Kuala Lumpur, 5th October 2023,
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi has proposed a collaboration between the Domestic Trade and Cost of Living Ministry (KPDN) and the Malaysian Franchise Association (MFA) to introduce the National Franchise Policy to empower the franchise industry.
He said the new policy needs to be established to achieve the target of RM500 billion turnover for the franchise industry by 2030.
“I am very confident that this goal can be achieved if all parties are committed to it.
“Under the leadership of (MFA chairman) Datuk Radzali Hassan, assisted by friends such as HDC (Halal Development Corporation Berhad) and other industry players, I am confident that this goal can be achieved,” he said at the Malaysia Franchise Awards here tonight.
Ahmad Zahid said the National Franchise Policy needs to set two targets, namely to expand the existing domestic market through the organisation of exhibitions including halal product exhibitions aimed at business matching.
“The second target is to expand this franchise overseas,” he said.
Ahmad Zahid said collaboration between ministries, government agencies, industry players and related associations should be encouraged to achieve that target.
He also suggested MFA and other related parties to organise the ASEAN Franchise Conference.
“I hope the main committee for the ASEAN Franchise Conference can be formed immediately,” he said, adding that a meeting on the matter is expected to be held no later than this November.
Source: New Straits Times
Full Article: https://www.nst.com.my/news/nation/2023/10/963537/kpdn-mfa-urged-introduce-national-franchise-policy