Date : 1 Feb 2021
Resource : The Malaysian Reserve
Perbadanan Nasional Bhd (PNS), an agency under the Ministry of Entrepreneur Development and Cooperatives (Medac), is targeting a minimum of 5,000 financing approval to entrepreneurs which is expected to expand the franchise portfolio by 400 % from RM178 million to RM700 million.
Its minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar said this five-year strategy plan is expected to create 18,000 jobs and contribute RM4.4 billion towards the Gross Domestic Product (GDP).
He said franchising could help Bumiputera entrepreneurs in improving their socio-economic position, especially through PNS’s Business-In-Transformation (BIT) programme that encourage entrepreneurs to expand their business through franchising.
“The cooperation between Medac and PNS proves that ministries and agencies are able to create a network of cooperation which, in turn, produces more entrepreneurs adopting this business concept.
“This effort encourages economic growth, especially for Bumiputera entities to venture into franchise business,” he said in a statement.
While PNS gears its goals towards building an effective franchise ecosystem with a comprehensive value chain supported by digital technology, it will also empower the socio-economic development of Bumiputera through entrepreneurship.
Since 2005, PNS has disbursed total franchise financing of RM463 million to 2,529 entrepreneurs. – The Malaysian Reserve