NEW DELHI: Malaysian companies with successful franchise business models shall get more active in exploring opportunities abroad, a senior official of the Domestic Trade and Consumer Affairs Ministry said.
“We want them to look beyond the immediate region and explore opportunities in the Middle East, Europe and South Asian countries,” the ministry’s deputy secretary-general Datuk Rostam Affendi Salleh told Bernama in an interview.
“Some of our companies have expanded to Southeast Asian markets and they are comfortable doing business in the region (Asean). But they should take advantage of the incentives the government offers them in setting up partnerships in foreign markets,” he said.
Rostam said Malaysian companies should be aware of the various initiatives through which the Ministry of International Trade and Industry (Miti), Malaysia External Trade Development Corporation (Matrade) and other agencies could help them in joining trade events abroad and meeting potential business partners.
A total of 899 franchises are operating and registered with the ministry and of these 575 are home-grown brands, according to him.
Sixty-five Malaysian franchises are present in 66 countries and operate 4,271 outlets.
Last week Rostam led a Malaysian delegation that participated in an industry fair in New Delhi.
The brands and agencies under the Malaysian pavilion at the Franchise India show included The Manhattan Fish Market, Marrybrown, MuzArt, Celmonze, Global Art and the Malaysia Franchise Association.
“In India, we have 11 Malaysian brands with 174 outlets,” he added.
India is seen as an attractive market for franchise deals in sectors such as food and beverage, education, retail and recreation.
India’s franchise market growth is helped by youth entrepreneurial aspirations, growing urban population and disposable incomes of middle and upper-class consumers. – Bernama
