Domestic Trade and Consumer Affairs Minister Datuk Saifuddin Nasution Ismail said thegovernment is confident that Malaysia’s franchise industry will be able to contribute RM35 billion to the country’s GDP in 2020. — Picture by Miera Zulyana
Citing the Franchise Business Annual Reports, Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail said the top three franchise companies, 99 Speedmart, McDonald’s and Seng Heng registered sales of RM3.4 billion, RM2.2 billion and RM998 million, respectively, in 2018. “We have organised exhibitions, trade missions, in-buying missions and training sessions to promote homegrown brands,” he said.
To date according to Saifuddin, there are 877 registered franchises in Malaysia, which contributed RM30.03 billion to the country’s GDP in 2018.On the FIM2019, Saifuddin said the three-day event, beginning today, has attracted 78 companies from 12 countries, with 111 booths.