Deputy prime minister of Malaysia ,Ahmad Zahid Hamidi (centre) flanked by domestic trade and cost of living minister Salahuddin Ayub (left) and Malaysian Franchise Association chairman Dr.Radzali Hassan at the launch of Franchise International Malaysia 2023.
KUALA LUMPUR:
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi has called on local franchise industry players to collaborate to promote their respective brands internationally. Ahmad Zahid, who is also the Rural and Regional Development Minister, said it was time for all industry players to join forces in marketing local products abroad, thus putting competition aside. “I am confident that if we mobilise our energy together to promote local brands to the international level, more Malaysian products will be better known abroad. “We should put all efforts in the name of the country and forget all racial and religious differences,” he said when launching the 2023 Franchise International Malaysia (FIM) Exhibition and Conference, at the Kuala Lumpur Convention Centre on Thursday (May 18). Also present were Domestic Trade and Cost of Living Minister Datuk Seri Salahuddin Ayub and Malaysian Franchise Association (MFA) chairman Datuk Radzali Hassan.Ahmad Zahid said the government is also committed to promoting various local brands internationally, not only for food and beverages but also for various other products, such as pharmaceuticals, services and banking. Not only through grand-scale exhibitions but also whenever Prime Minister Datuk Seri Anwar Ibrahim makes an official visit abroad, he will take the Malaysian brands along,” he said.
Meanwhile, Salahuddin said in order to find a solution for the franchise industry to bring Malaysian brands to the international level, a more comprehensive long-term plan will be drawn up by his ministry.
“This definitely requires a more detailed management and action plan. Insya-Allah, I think that this year we will hold more engagement sessions (to draw up the long-term plan),” he said when met by reporters.
The three-day Franchise International Malaysia 2023 (FIM2023) exhibition is set to propel Malaysian businesses to greater heights and expand their brands overseas. Organised by the domestic trade and cost of living ministry together with the Malaysian Franchise Association, FIM2023 is set to welcome 15,000 visitors to the Kuala Lumpur Convention Centre from today until May 20. Themed “Rebuilding Growth, Spurring Excellence”, the exhibition is expected to bring in franchise investments of RM550 million.
Aside from Malaysian businesses, franchises from the United States, Australia, Brunei, Japan, South Korea, the Philippines, Singapore, and Taiwan are also taking part in FIM 2023. Malaysian Franchise Association chairman Radzali Hassan said the event was organised to help local franchises connect with foreign investors. “FIM2023 is a conducive platform for all franchise entrepreneurs and potential entrepreneurs to interact and create a wider business network.
“It is also the best platform for the community to explore job opportunities through franchising and consequently improve their standard of living,” he said during his welcome address. The three-day event will include conferences, franchise briefing sessions, edutainment activities and business-matching sessions between franchisors and potential investors.
Deputy prime minister Ahmad Zahid Hamidi, who launched the exhibition said FIM2023 could bring together franchisors from around the world to share their experiences, ideas and knowledge to develop the Malaysian franchise industry. “I am confident that if we mobilise our energy to promote local brands to the international level, more Malaysian products will be better known abroad,” he said.
He added that the future success of the Malaysian franchise business would depend, to a certain extent, on how well it could incorporate sustainable requirements such as innovation, efficiency, and wealth creation while navigating the challenges and opportunities for growth and stability.
Also present was domestic trade and cost of living minister Salahuddin Ayub.At a press conference after the launch of FIM2023, Salahuddin said his ministry planned to bring more Malaysian brands overseas. “We (the ministry) believe in the potential of this (franchise) industry. In 2022, for example, it was valued at RM28 billion.“Franchises continue to contribute to the creation of entrepreneurs and SMEs, and we will help them with several initiatives that we will unveil in the near future.”
