MALAYSIA aims to record RM100bil in franchise sales by 2030, by expanding the industry and strengthening the presence of homegrown brands in international markets.
Domestic Trade and Cost of Living Deputy Minister Datuk Dr Fuziah Salleh said the industry contributed more than RM46bil to the national economy last year and achieved an average annual growth of about 15% in recent years.
“The development of community-based franchises is a key focus to ensure opportunities to grow businesses through this system are not limited to large corporations.
“The ministry is committed to expanding access to affordable franchise business models, particularly for micro, small and medium enterprises and young entrepreneurs,” she said at the southern zone “Road to Malaysia International Franchise Exhibition 2027” (FIM2027) in Johor Baru which featured 26 brands and 34 booths.
Fuziah said 471 franchise businesses were registered with her ministry as at September this year, comprising 295 local franchise brands, 153 foreign brands and 23 master franchisees.
“Food and beverage brands still top the list.
“We are also seeing more services entering the industry, such as postnatal care,” she added.
Fuziah said the return of franchise management responsibilities to her ministry through Perbadanan Nasional Bhd (Pernas) allowed for better coordination between domestic trade policies and entrepreneurship development.
“The move can also help unlock the industry’s potential to create jobs, increase income and stimulate economic activity.
“The ministry will continue working with Pernas, the Malaysian Franchise Association and other stakeholders to expand training, financing access and business guidance for entrepreneurs,” she added.
FIM2027 is scheduled to take place at Kuala Lumpur Convention Centre from May 6 to 8 next year.
