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Govt keen on enhancing franchise system in the country

Date : 13/12/2014
Source : The Sun Daily

 

PUTRAJAYA: Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hasan Malek said that the growing franchise system in the country has encouraged the government to further enhance the industry.

He said there are currently 757 registered franchise systems from all sectors in the country and as a result, there are 7,525 business franchisees that have been set up in the central region alone (Kuala Lumpur, Selangor and Putrajaya).

“Malaysia is one of the few countries that has a comprehensive and strong franchise system,” he said.

In efforts to boost the franchise industry, the government had set aside RM20 million in the 2015 budget. Malik said with the budget, the ministry has set up a “Franchise Blueprint” which aims to make the industry an economic driving force in the country.

He explained the franchise industry had contributed RM24.6 billion which constituted to about 2.5% of the nations GDP (Gross Domestic Product) in 2013.

“We aim to generate more revenue from the franchise systems in the country by getting the local communities involved in franchising. We also want Malaysia to excel as a South East Asian franchise hub in 2020,” he added.

Hasan was speaking at the launch of the Community Franchise Programme here today which aims to bring franchising awareness to local communities. The programme was also held simultaneously in Negeri Sembilan, Sabah, Sarawak, Melaka, Terengganu and Kedah.

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