Domestic Trade and Consumer Affairs Minister Datuk Alexander Nanta Linggi said the five-year strategy is part of the post-Covid-19 recovery plan to revive the franchise industry which had been adversely affected by the movement control order imposed to curb the Covid-19 pandemic. — Bernama pic
PUTRAJAYA, June 29 — The National Franchise Development Master Plan 2021-2025, which is currently being developed, will be able to boost local and overseas franchise businesses as well as increasing franchise sales value by 2025. Domestic Trade and Consumer Affairs Minister Datuk Alexander Nanta Linggi said the five-year strategy is part of the post-Covid-19 recovery plan to revive the franchise industry which had been adversely affected by the movement control order imposed to curb the Covid-19 pandemic.According to Nanta, the franchise sales value stood at RM11 billion in 2018 and rose to RM13 billion in 2019, adding that the amount is expected to double by 2025 with the implementation of the PIPFN.
On another note, Nanta said that during the meeting, franchisors have voiced their frustrations regarding the procedures in applying for operating permits which involves various authorities, adding that they have proposed for the government to set up a one-stop centre for operating licence applications. — Bernama