Published: 2009/06/11
THE recent liberalisation of 27 services sub-sectors provides a huge opportunity for foreign companies to start their franchise business in Malaysia, said Deputy Minister of International Trade and Industry, Datuk Mukhriz Tun Mahathir. He said with the leeway in equity control, it would enable them to have 100 per cent ownership.
"Malaysia is still a growing market for franchising. There is much room for expansion," he told reporters after officiating the Malaysian Franchise Association (MFA) annual general meeting in Kuala Lumpur today. Mukhriz said the franchise sector contributed about six per cent to the country's retail sector.
Earlier in his speech, Mukhriz said the franchise business in developed countries contributed more than 50 per cent to the retail sector. He said that in the US, franchises generated US$2.3 trillion in business while in Australia, it was US$130 billion. The countries generated in turn, 21 million and 10 million jobs respectively. Mukhriz also said that the franchise industry in Malaysia needed a long-term business masterplan or franchise blueprint to complete its development agenda in the country. -- Bernama
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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