Kuching, 10th May 2022,
The Federal government hopes that Malaysian brands can be expanded to the Middle East market, especially Saudi Arabia.
In a press statement issued today, Domestic Trade and Consumer Affairs Deputy Minister Datuk Rosol Wahid led a Malaysian delegation on a working visit and Malaysia Franchise trade mission to Jeddah, Saudi Arabia from May 7 to 9.
The delegation comprised officials from the Ministry of Domestic Trade and Consumer Affairs (MDTCA), Malaysian Franchise Association (MFA), and five of Malaysia’s top brands, which are CheeseU, CIC Where Leaders Are Born, Genius Aulad, US Pizza, and Siti Khadijah.
The trade mission is part of the Enhanced Franchise Development Programme (EFDP), approved by the Franchise Export Council (FRANEX) committee in 2021.
Rosol said that the trade mission was intended to encourage and motivate the Malaysian brands’ expansion to the Middle East market and connect and partner with the right foreign potential investors through the business matching programme.
The Franchise Malaysia brand has grown as a reputable force in Southeast Asia with more than 68 brands in 74 countries and is expected to grow further in post Covid-19 era.
“The Ministry has been working closely with the Malaysia External Trade Development Corporation (MATRADE), the Malaysian Franchise Association (MFA), and industry players to achieve the target and revitalise the momentum,” he said during the opening ceremony of the programme in Jeddah May 8.
In 2021, the franchise industry in Malaysia had recovered total sales of RM13 billion, which was a 16.4 per cent increase compared to 2018, with total recorded sales of RM11.16 billion.
Apart from this programme, the delegation visited the Lulu Hypermarket Marwah in Jeddah to strenghthen collaboration between the Malaysia government and Lulu International Group in the retail sector and, at the same time, to expand the reach and the development of Malaysia’s products in the Middle East market through Lulu Hypermarket in Saudi Arabia.
“This is definitely a win-win approach where we welcome reputable foreign retail and wholesale operator their businesses in Malaysia and at the same time carry Malaysian products and brands in their operation overseas.”
Source: Dayak Daily
Full Article: https://dayakdaily.com/federal-govt-wants-malaysian-brands-to-expand-to-middle-east-market/