Kuala Lumpur, 16th November 2020,
The Malaysian Franchise Association (MFA), in collaboration with the Domestic Trade and Consumer Affairs Ministry, is organising a series of International e-commerce expos, namely the Malaysia Digital Franchise Expo 2020 (MyDigiFex), as part of efforts to expand local franchises internationally amid the COVID-19 pandemic.
MFA chairman Datuk Dr Radzali Hassan said the pandemic was not an obstacle for the association to help the local franchise business expand into international markets although most countries’ borders were still closed to combat the spread of the virus.
“Together with the Ministry, we are always looking for alternatives to help franchise entrepreneurs to remain competitive and able to survive in the current economic situation.
“Therefore, the MyDigiFex initiative, which is one of the activities under the Enhanced Franchise Development Programme (EFDP) for increasing exports, is suitable to be implemented currently to help local franchisors connect directly with potential investors from abroad.
“MFA believes that the MyDigiFex programme will be able to further increase the number of local brands and outlets at the international level in the future,” he said in a statement today.
Radzali said the programme would involve the participation of 14 franchisor companies with an expected investment potential of RM75 million in five countries within 12 months.
He also said MyDigiFex was an adaptation of the Franchise Business Matching Programme, an initiative under the EFDP last year.
“As most countries are still struggling with the COVID-19 pandemic, support for MFA members in promoting their business overseas needs to be continued; therefore, MFA needs to take appropriate steps to adapt to the new business norms via initiatives such as MyDigiFex.
“The internationalisation of franchises through this programme will help local franchisees to remain competitive and to take their brands internationally to meet global demand, especially in ASEAN and developed countries,” he said.
The MyDigiFex series is ongoing until Nov 18 in the Middle East market, followed by the European market from Nov 23 to 25, and then the Japanese and South Korean, African, Australian and New Zealand markets next month.
Commenting further, Radzali said among the achievements of the EFDP since its implementation in 2016, were Marrybrown penetrating the Japanese and Swedish markets, Global Art & Creative entering Japan and Morocco, and Manhattan Fish Market opening outlets in Jordan and Mauritius.
So far, a total of 66 Malaysian franchise brands have penetrated markets in 65 countries.
Source: The Edge Market
Full Article: https://www.theedgemarkets.com/article/mydigifex-provides-local-franchises-global-expansion-opportunities