More Local Franchise Products to Penetrate International Markets
The Ministry of Domestic Trade and Consumer Affairs will bring more unique local franchise products to the international level.
In a statement on Tuesday (Oct 18), it said this was following local franchises having expanded to over 68 renowned brand names in 74 countries across the world.
The ministry's Trade, Distribution and Business Sector director Datuk Rohaizi Bahari said in a statement that currently, nine local franchise brand names had expanded to the Philippines.
“We want these to continue increasing, in view of the Malaysian franchise brand names having big market potential.
“In the Philippines, we see big market potential due to the similarities in taste and culture of its people. Hence, this eases our cooperation and market expansion for our local franchise products,” he added.
The ministry also announced that it had held franchise trade missions to Manila, the Philippine capital, from Oct 14 to 16 this year.
The trade mission initiative, a franchise expansion programme implemented under the Enhanced Franchise Development Programme (EFDP), was the fifth scheduled for this year, after Jeddah, Johannesburg, Doha and Jakarta.
The ministry’s delegation to Manila was led by Rohaizi and participated by the Malaysian Franchise Association (MFA) and eight local franchise companies, namely Aloha, Cheeseu, HOME Math Therapy, Laundrybar, Marrybrown, Muzart, Oldtown White Coffee and US Pizza.
According to the statement, the Malaysian delegation also had other activities such as meeting with representatives of government agencies, and working visits to a Philippine franchise company outlet and a Malaysian franchise company branch, namely Tealive.
Source: The Edge Markets