KUCHING, Aug 25: Deputy Minister of Domestic Trade & Consumer Affairs (KPDNHEP) Chong Chieng Jen says there are 12 Malaysian franchise brands that have successfully make it to China.
He said the ministry has been taking a very serious view on the development of the franchise business of the country.
“In 2018, franchise business contributed RM30.3 billion to Malaysia’s GDP and the Government targets RM35 billion for year 2020.
“To date, only 12 Malaysian franchise brands have successfully penetrated the Chinese market including Global Art, Poney and Marrybrown,” said Chong in a statement today.
On the other hand, there are 19 China franchises successfully operating business in Malaysia.
“As such, allocation is granted to assist local franchises to participate in overseas trade exhibition.
“The KPDNHEP also works closely with other agencies like Malaysia External Trade Development Corporation (MATRADE), Malaysian Franchise Association (MFA), Malaysia Retail Chain Association (MRCA) to help franchisers expand their businesses within and outside the country,” said Chong.
Chong who is also Sarawak Pakatan Harapan (PH) chief chaired a business matching meeting between representatives of Malaysia Franchise Association and Malaysia-China Chamber of Commerce, (MAYCHAM) Shanghai Branch yesterday.
Chong is leading a delegation of nine Malaysian Franchise businesses to participate in the China Franchise Expo (CFE) held at the Shanghai New International Expo Center from August 23 to August 25, 2019.
Meanwhile, the Malaysia-China Chamber of Commerce, Shanghai Branch which is the only business association of Malaysian business community in Shanghai, is officially recognised by the Chinese Government.
“It comprises of businessmen, employees and business entities who have business connections and have worked and resided in Shanghai.
“Most of them have resided in Shanghai for more than 10 years and have the necessary experience and knowledge about doing business in China,” said Chong in a press statement today.
Chong said the ministry regarded their experience as valuable assets in helping the Malaysian franchise brands and businesses to penetrate the Chinese market in Shanghai.
“As such, the business matching meeting was held in conjunction with the participation in the CFE in Shanghai,” he said. — DayakDaily