23 Jun 2015 – Bernama
KUALA LUMPUR, June 23 Jun (Bernama) — The Malaysian Franchise Association (MFA) targets Malaysian franchise brands to expand in ASEAN to 40 per cent by 2020 from the current 20 per cent.
MFA Chairman, Datuk Mohd Latip Sarrugi, said the target increase was in line with MFA’s intention to make Malaysia a franchise centre in South-East Asia and West Asia by 2020.
“ASEAN is one of the popular business destinations for Malaysian franchise companies besides West Asia.
“The plan to establish the Asean Economic Community will provide good opportunities for the Malaysian franchises to develop further,” he said at the MFA’s 20th annual general meeting here Tuesday.
Latip said the target was achievable based on the common factors of religion and culture among Asean countries.
“To date, there are 60 Malaysian franchise brands with 2,160 branches in 55 countries worldwide. We are looking at increasing the number of Malaysia franchise branches globally to about 40 per year beginning this year,” he said.