Bernama – 25 Februari 2016<\/p>\n
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PUTRAJAYA, Feb 25 (Bernama) — About 1,000 franchise brands are expected to be registered with the Domestic Trade, Cooperatives and Consumerism Ministry by year-end.<\/p>\n
Its minister, Datuk Seri Hamzah Zainudin said the brands were expected to contribute RM28 billion to the country’s gross domestic product.<\/p>\n
“Until Feb 15, a total of 809 franchises have been registered with the ministry.<\/p>\n
“I know this is not easy as we are facing global economic slowdown, but I believe it is not impossible for us to achieve the target,” he said at the ‘Power Dinner: An Evening With Franchisors’, here tonight.<\/p>\n
On the success of Malaysian home-grown franchises abroad, Hamzah said 61 Malaysian franchise brands, involving 2,453 outlets, made their forays into 56 countries.<\/p>\n
Meanwhile, Hamzah said the ministry would hold the Franchise International Malaysia (FIM) 2016 at the Putra World Trade Centre from May 6 to 8.<\/p>\n
“We are targeting investments worth RM400 million from the sales of franchise systems to 1,000 potential franchisees through some 120 exhibitors,” he said.<\/p>\n
Over 250 industry players and 12,000 visitors are expected to attend the 23rd FIM.<\/p>\n
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