KUALA LUMPUR, Malaysia’s franchise industry has achieved significant progress, being one of the fastest-growing sectors in the country, said the Malaysia External Trade Development Corporation (MATRADE).
In a statement, deputy chief executive officer Sharimahton Mat Saleh said through Malaysian franchises abroad, more products and services can be marketed internationally, contributing to the growth of the country’s exports and enhancing the visibility of Malaysian brands overseas.
She noted that Malaysia’s s total trade grew 26 per cent to RM1.1 trillion for the first half of 2021, the highest half-year value recorded for trade, exports and imports.
Trade surplus surged by 87.7 per cent year-on-year to RM115.04 billion, she said.
The national trade promotion organisation, which comes under the International Trade and Industry Ministry, collaborates with the Domestic Trade and Consumer Affairs Ministry, the Malaysian Franchise Association and Perbadanan Nasional Bhd in organising international trade promotions.
MATRADE said the franchise industry is forecast to start to recover from the impact of the pandemic, with nearly 800,000 new jobs created in Southeast Asia, and much of this employment would be in retail, food, and services industries.
In the food and beverages industry, the demand for central kitchens and dark kitchens is expected to grow in years to come resulting from the pandemic effect.
“(Hence,) Malaysian franchisors should capitalise and tap on the opportunities by offering flexible and affordable master franchise packages for potential partners overseas,” the agency said .
Currently, 65 Malaysian renowned franchise brands such as Marrybrown, Manhattan Fish Market, Secret Recipe, Chicken Rice Shop, Nelson’s, Royal Selangor, Global Art & Creative, Smart Reader, Poney, Q-Dees and Laundry Bar, have established their presence in 66 countries.
MATRADE said even in the face of limitations and challenges of the COVID-19 pandemic, some Malaysian brands like Global Art and Rotiboy have managed to expand their businesses in China and Singapore respectively.
Malaysian education players have also penetrated international markets mainly in Southeast Asia and the Middle East to cater for the growing need for pre-schools, English and children Islamic centres.
Source: BERNAMA News Agency