• Wed. Oct 5th, 2022

ONE-STOP CENTER FOR LOCAL AND INTERNATIONAL FRANCHISE BUSINESSES

ByStephanie M. Akbar

Sep 10, 2022

The Malaysia International Franchise Exhibition and Conference (FIM) aims to be the one stop center for local and international franchise entrepreneurs.

Prime Minister Datuk Seri Ismail Sabri Yaakob is optimistic that programs such as FIM 2022 would foster franchise businesses, strengthen the local franchise industry and provide opportunities for franchisors to expand their business networks across the country. global scale.

He said FIM would be an effective platform to unite franchisors around the world through the sharing of experiences, ideas and knowledge that enable the growth of the country’s franchise industry.

Themed Rebuilding Growth, Driving Excellence, FIM 2022 is jointly organized by the Malaysian Franchise Association (MFA) and the Ministry of Domestic Trade and Consumer Affairs, and is recognized by the World Franchise Council and the Asia-Pacific Franchise Confederation.

This largest franchise exhibition and conference in Southeast Asia is held at the Kuala Lumpur Convention Center with 150 exhibition booths and 91 exhibitors from nine countries.

Of this figure, 26% are international exhibitors from the United States, Australia, Indonesia, Italy, Japan and South Korea, among others.

The three-day exhibition on September 8 is expected to attract 14,000 visitors with a potential franchise investment of RM450 million.

Ismail Sabri, in his speech delivered by the Minister of Internal Trade and Consumer Affairs, Datuk Seri Alexander Nanta Linggi, at the official launch on Thursday, said that Malaysian laws complement the franchise business ecosystem to thrive in an environment healthy and achieve fair trade.

There are now 1,149 businesses registered under the Franchise Act 1998. In 2021, 13,779 franchise outlets opened in the country – a 47% increase from the pandemic year of 2020 – with 49,000 job opportunities created last year.

“The franchise industry is expected to grow with a total sales value of RM14.65 billion in 2020 to RM22.66 billion by 2025,” said Ismail Sabri, adding that there are now 68 franchise brands. Malaysians in 74 countries.

According to MFA Chairman Datuk Radzali Hassan, FIM 2022 features business matchmaking sessions, franchise negotiation sessions, franchise pit stops and edutainment activities.

At the event, 20 speakers were lined up to share insights on the franchise industry, market trends, international business expansion, legislation, business building strategies and tips for meeting challenges. current economic challenges.

Speaking to reporters later on the halal franchise sector, Alexander said, “We have to move in this direction because there is huge potential in the halal sector.

“We must seize the opportunities and the space presented to us as this (halal) industry is established in Malaysia.”

Regarding the B40 group taking over franchise businesses, Alexander said that the Ministry of Internal Trade and Consumer Affairs has put in place various initiatives and aids for them to be involved in this sector, such as the Affordable Micro Franchise Program.

At FIM 2022, Alexander witnessed the Franchise Agreement Swap Memorandum between Malaysian company Marrybrown which operates a halal-certified fast food chain and CB Connect Pty Ltd – to open 30 Marrybrown outlets in Australia.

“We believe the Australian market will be a great growth opportunity for Marrybrown, making this a strategic move in line with our international plan,” said Marrybrown co-founder Datin Nancy Liew.


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