By Gabriel Lihan
KUCHING: Franchise companies in Malaysia are thriving both locally and internationally.
In applauding them Domestic Trade and Consumer Affairs Minister Datuk Sri Alexander Nanta Linggi said that 1,137 franchise companies have registered under his ministry.
A total of 68 local franchise companies have successfully made it to the international market and currently are in 70 countries, he said.
Alexander also pointed out that the initiatives shown by the ministry to develop the franchise industry can be seen from the statistics of the Franchise Business Annual Report (LTPF).
“Based on the report in 2020, the sales value of the franchise companies have increased to RM14.6 billion compared to RM13.3 billion stated in the year 2019, and that is a 9.7 per cent increase,” he said when officiating at the Jelajah Franchise Bay programme launching held here on Saturday (May 28).
Separately, he added that the Micro and Affordability Franchise programme allows the public the opportunity to do business.
“With the existing programme, it will benefit the B40 and M40 groups to increase the standard of living by generating income as franchise businesses and create job opportunities for the locals.”
Besides that, Alexander also said a total of RM2.4 million has been approved for 33 applicants under the programme.
As for the Full Grant, 14 applications have been approved for an amount of RM1.4 million, he disclosed.
