Franchise Industry Running Strong Despite Economic Slowdown
The country’s franchise industry will continue to expand even if there is a slowdown in world economy, said the chairman of Malaysia Franchise Association (MFA) Datuk Mukhriz Tun Dr Mahathir.
He said franchising is one of the best ways for those keen to enter the business world as it has a strong system even during a period of economy that is not encouraging.
“People are always interested in franchising even during a dampened economy as it has a proven successful system,” he told reporters after a briefing on the finalists for the Malaysia Franchise Awards 2008, here, Thursday.
The franchise industry has expanded by 15 percent in the last few years.
Mukhriz was also confident that the target of establishing 50 local franchises and 1,000 franchisees under the Ninth Malaysia Plan will be achieved although there has been a downturn in economy.
On the awards, he said a total of 14 franchise companies have been shortlisted for 11 awards under the categories of franchisor and franchisees.
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