Number of local franchises overseas to grow 10 per cent annually — MFA

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KUALA LUMPUR: The Malaysian Franchise Association (MFA) expects the number of local franchise companies establishing their business overseas to grow 10 per cent annually.

A main committee member of the MFA, Abdul Rahman Mohamed said 10 per cent was the minimum target, with 39 companies currently operating in 51 countries.

“The food and beverages sector and education business will have the most potential in expanding its business overseas,” he said after a media briefing on the upcoming Malaysian Franchise Awards 2011 yesterday.

To date, businesses such as Nelson Franchise (M) Sdn Bhd and Daily Fresh Food Sdn Bhd have expanded to 17 nations.

On the other hand, Indonesia and China host the most Malaysian franchise companies at 18 and 14, respectively.

“Malaysian companies must also must be praised for their courage in entering tough markets such as Yemen, Nigeria and Azerbaijan,” Abdul Rahman said. — Bernama