Riot sampling some of the snacks offered at one of the booths.
KUCHING: The franchise industry has a potential to grow into becoming among the significant generators of the country’s Gross Domestic Product (GDP).
For the record, it contributed RM25.4 billion, or 2.6 per cent, to last year’s GDP.
So far, the industry has seen 58 local brands expanding to 53 foreign countries through the establishment of 2,380 outlets.
According to Human Resource Minister Datuk Seri Richard Riot, so far there are 748 franchises across various sectors having registered with the Franchise Registration Office under Domestic Trade, Cooperatives and Consumerism Ministry (KPDNKK).
“Overall, 7,405 franchise businesses have been established. As franchising has become more important to the country’s economy, the government is always supporting and assisting local entrepreneurs to expand their business, including through the formulation of the National Franchise Development Plan which lines up initiatives and programmes for the local franchise industry until 2020,” he said after launching ‘Sarawak Community Franchise Programme’ at Plaza Merdeka here yesterday.
State KPDNKK director Stanley Tan and Malaysia Franchise Association secretary-general Mohd Shukri Salleh were among those present.
Riot informed that the ministry had brought in 21 franchise businesses, from both the state and Peninsular Malaysia and Sarawak, for the two-day programme offering micro franchise system below and above RM50,000.
Representatives of government agencies were also available at their respective booths to share information and provide consultation services to visitors and potential franchisors.
The Sarawak leg was the fourth in the programme, with Negeri Sembilan, Melaka and Sabah being the previous hosts. Two more – each in Kedah and Kuala Lumpur – will be organised by the year-end.