INVESTMENT POTENTIALS: Ismail Sabri (second right) looks at a product during his visit to booths at the 24th China (Guangzhou) Franchise Exhibition. The Franchise Malaysia Mission to Guangzhou has yielded an investment potential of RM124.95 million. — Bernama photo
GUANGZHOU: The Franchise Malaysia Mission to Guangzhou, China, has yielded an investment potential of RM124.95 million.
This followed preliminary business discussions with 37 potential franchisees, according to a statement by the Ministry of Domestic Trade, Cooperatives and Consumerism yesterday.
The Malaysian delegation to the 24th China (Guangzhou) Franchise Exhibition (CGFE) from February 24 to February 26, was led by the Minister of Domestic Trade Cooperatives and Consumerism, Datuk Seri Ismail Sabri Yaakob.
“The main objective of the franchise mission was to introduce local franchise services and products to the international stage.
“The Chinese market has been identified as a strategic location for local franchisors to spread their wings to globally,” said Ismail Sabri.
The CGFE 2012 was organised by the Guangzhou Chain Stores & Franchise Association in China Import & Export Fair Pazhou Complex, Guangzhou.Malaysia’s participation in the CGFE 2012 was a significant step towards local franchise products and services penetrating the overseas market.
The Malaysian franchise brands to the Expo in China received good response from visitors comprising entrepreneurs and investors from that country. Ismail Sabri also had a meeting with the president and delegation from the Guangdong General Chamber of Commerce and also the Guangzhou Chain Stores and Franchise Association.
Following the meeting, all parties agreed that it was a meaningful step for entrepreneurs from both countries to develop closer cooperation to explore business opportunities. Two Malaysian franchisors signed memoranda of understanding with Chinese companies during the mission.
To date 14 Malaysian franchise companies have succeeded in opening 72 outlets in China. — Bernama