Putrajaya, 10 May 2022,
Malaysia has undertaken a franchise trade mission to Jeddah, Saudi Arabia, to assist in Malaysian brands’ expansion to the Middle East.
The delegation, led by Deputy Domestic Trade and Consumer Affairs Minister Datuk Rosol Wahid, included officials from his ministry, the Malaysian Franchise Association (MFA) and five of the country’s top brands — CheeseU, CIC Where Leaders Are Born, Genius Aulad, US Pizza, and Siti Khadijah.
Rosol said the three-day trade mission, which ended on May 9, was part of the Enhanced Franchise Development Programme approved by the Franchise Export Council (FRANEX) committee in 2021.
“The trade mission was intended to encourage and motivate the Malaysian brands’ expansion to the Middle East market, especially Saudi Arabia, and (for) connecting and partnering with the right foreign potential investors through the business matching programme,” he said in a statement on Tuesday (May 10).
Rosol said the Franchise Malaysia brand has grown into a reputable force with more than 68 brands in 74 countries and is expected to grow further post-Covid-19.
The franchise industry in Malaysia recorded total sales of RM13 billion in 2021, an increase of 16.4% over the RM11.16 billion achieved in 2018.
In Jeddah, the delegation also visited Lulu Hypermarket Marwah to strengthen the collaboration between Malaysia and Lulu International Group in the retail sector, as well as to expand the reach and development of the country’s products in the Middle East market through Lulu Hypermarket in Saudi Arabia.
“This is definitely a win-win approach where we welcome foreign reputable retail and wholesale operators to operate their businesses in Malaysia and at the same time, carry Malaysian products and brands in their operation overseas,” the deputy minister said.
Sources: The Edge Markets
Full Article: https://www.theedgemarkets.com/article/trade-mission-jeddah-seeks-drive-malaysian-brands-mideast-expansion