Friday, 2 June 2017
HO CHI MINH CITY: Malaysia offers vast opportunities for franchise companies from abroad, particularly Asean countries, to expand into the Malaysian market. Domestic Trade, Cooperatives and Consumerism Minister Datuk Hamzah Zainuddin said Malaysia has specific legislation to regulate the franchise industry in order to spur its growth.
“Malaysia leads the franchise industry in the region as we are armed with the Franchise Act 1998, and has an inclusive development plan to support the industry. Not many countries have such laws to regulate the franchise industry like Malaysia,” he said during the Malaysia-Vietnam business forum in conjunction with the 9th Vietnam International Retail and Franchise Show here yesterday.
Hence, Malaysia is willing to share its experience in the franchise industry development with Vietnam, he said, adding that likewise Vietnam should have similar legislation to enable both countries to make forays into the Asean market. Malaysia has a dedicated agency, namely Perbadanan Nasional Bhd to provide advice and financial assistance to franchisors and master franchisees to strengthen their capabilities.
Hamzah later opened the Malaysia Franchise Pavilion which featured 12 Malaysian home-grown franchisors, namely Global Art, Poney, House of Healin, Place2stay, Old Town White Coffee, The Manhattan Fish Market, Dapur Penyet, Bangi Kopitiam, Constant, Ibu Sayang, Q-dees, and GTC. 7 Malaysian franchise brands, namely Bonia, Gintell, Global Art, U C Mas, Tomei, Lovely Lace and GTC have already made their presence in Vietnam, boasting 143 outlets among them.
Hamzah was accompanied by Domestic Trade, Cooperatives and Consumerism Ministry secretary-general Datuk Seri Jamil Salleh, PNS managing director Datuk Syed Kamarulzaman Syed Zainol Khodki Shahabudin, MyIPO director-general Datuk Shamsiah Kamaruddin, and Companies Commission of Malaysia CEO Datuk Zahrah Abdul Wahab Fenner.
Source by: Internet