Kuala Lumpur, 10 September 2022,
The Franchise International Malaysia Exhibition and Conference (FIM) aims to be the one-stop centre for local and international franchise entrepreneurs.
Prime Minister Datuk Seri Ismail Sabri Yaakob is optimistic that programmes such as the FIM 2022 would promote franchise businesses, strengthen the local franchise industry and provide opportunities to franchisors to expand their business networks globally.
He said FIM would be an effective platform to unite franchisors worldwide through sharing of experiences, ideas and knowledge that enable the growth of the country’s franchise industry.
Themed Rebuilding Growth, Spurring Excellence, FIM 2022 is jointly organised by the Malaysian Franchise Association (MFA) and the Domestic Trade and Consumer Affairs Ministry, and is recognised by the World Franchise Council and Asia Pacific Franchise Confederation.
This largest franchise exhibition and conference in South-East Asia is being held at the Kuala Lumpur Convention Centre with 150 exhibition booths and 91 exhibitors from nine countries.
Of the figure, 26% are international exhibitors coming from the United States, Australia, Indonesia, Italy, Japan and South Korea, among others.
The three-day exhibition from Sept 8 is expected to attract 14,000 visitors with potential franchise investment of RM450mil.
Ismail Sabri in his speech delivered by Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi at the official launch on Thursday said Malaysian laws complement the franchise business ecosystem to expand in a healthy environment and achieve fair trade.
There are now 1,149 companies registered under the Franchise Act 1998. In 2021, 13,779 franchise outlets opened in the country – an increase of 47% from the pandemic year of 2020 – with 49,000 job opportunities created last year.
“The franchise industry is expected to grow with total sales value from RM14.65bil in 2020 to RM22.66bil by 2025,” said Ismail Sabri, adding that there are now 68 Malaysian franchise brands in 74 countries.
Accoding to MFA chairman Datuk Radzali Hassan, FIM 2022 features business matching sessions, franchise negotiation sessions, franchise pit-stops, and edutainment activities.
At the event, 20 speakers have been lined up to share insights into the franchise industry, market trends, international business expansion, legislation, business strengthening strategies and tips to address current economic challenges.
Speaking to newsmen later on the halal franchise business, Alexander said: “We have to be heading towards this direction as there is huge potential in the halal business.
“We have to take the opportunities and space provided as this (halal) industry is established in Malaysia.”
On the B40 group taking up franchised businesses, Alexander said that the Domestic Trade and Consumer Affairs Ministry has introduced various initiatives and aid for them to be involved in this sector, such as the Micro and Affordable Franchise Programme.
At FIM 2022, Alexander was witness at the memorandum of franchise agreement exchange between Malaysian-based Marrybrown that operates a halal-certified fast food restaurant chain and CB Connect Pty Ltd – to open 30 Marrybrown outlets in Australia.
“We are confident that the Australian market will be a great opportunity of growth for Marrybrown, making it a strategic move in line with our international plan,” said Marrybrown co-founder Datin Nancy Liew.
Source: The Star
Full Article: https://www.thestar.com.my/news/nation/2022/09/10/one-stop-centre-for-local-and-international-franchise-businesses
