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Kuala Lumpur: The government is encouraging more parties to venture into the franchise industry as it foresees the industry’s great potential, said the Minister of Domestic Trade and Consumer Affairs Datuk Seri Alexander Nanta Linggi.

He said the franchise industry plays an important role in the country’s economic recovery, especially in creating employment opportunities for Malaysians.

Nanta said this at a press conference after the 29th Franchise International Malaysia 2022 (FIM2022) launch Thursday.

He also said that the ministry will continue to help interested parties from the B40 and M40 groups to venture into affordable and micro-franchise businesses.

Elaborating, he said the national franchise industry should not only focus on the popular food and beverage sector but must be expanded to other sectors, such as services.

FIM2022 which will run from today until Saturday (Sept 10) is organised by the Malaysian Franchise Association (MFA) in collaboration with the Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) and supported by international franchise bodies such as the World Franchise Council (WFC), the Asia Pacific Franchise Confederation (APFC) and the Malaysian External Trade Development Corporation (Matrade).

It features nearly 100 exhibitors of various local and international brands from nine countries namely the United States, Australia, Indonesia, Italy, Japan, South Korea, Singapore and Taiwan, including Malaysia.

Themed ‘Rebuilding Growth, Spurring Excellence’, FIM provides 150 exhibition spaces at the Kuala Lumpur Convention Centre (KLCC) and about 14,000 visitors are expected to turn up bringing a potential investment value of RM450 million.

Meanwhile, MFA chairman Datuk Radzali Hassan in his speech said FIM2022 is an important platform and a place for franchise industry players as well as potential franchise entrepreneurs from home and abroad to gather as it created a space for intellectual and active and proactive discussion sessions in building a franchise business network. “It is also the best platform for the community to explore job opportunities and further improve their standard of living,” he said.

He said MFA will continue to increase efforts in encouraging more entrepreneurs to venture into the business and consistently host activities to spread information about the franchise business to the public.

He said FIM2022 shows the initiative of MFA and KPDNHEP to help entrepreneurs to start, develop and maintain the competitiveness of their franchise business.