Huge Opportunity For Foreign Companies To Start Franchises In Malaysia
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 leeway in equity control, it would enable them to have 100 percent 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 here today.
Currently, Mukhriz said the franchise sector contributed about six percent to the country’s retail sector.
Earlier in his speech, Mukhriz said the franchise business in developed countries contributed more than 50 percent to the retail sector.
He said that in the United States, 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.
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