Latest news with #AseanFranchiseConventionDeclaration
The Star
09-05-2025
- Business
- The Star
Zahid proposes boosting franchise sector
Good for business: Ahmad Zahid (centre) visiting a booth at the opening of the FIM Exhibition 2025 in Kuala Lumpur. — Bernama KUALA LUMPUR: Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi has proposed three initiatives, including the Asean Franchise Accelerator Programme, to elevate Malaysia's franchise ecosystem. He said the programme could serve as a flagship initiative to groom local franchise brands through expert mentorship, access to funding and fast-tracked regional market entry. The second initiative, he said, is the Asean University Franchise Business Challenge Programme, which gathers cutting-edge franchise concepts from university students across Asean, offering the best ideas to be adopted, nurtured and scaled by leading franchise players. 'The third will be celebrating World Franchise Day, a global event observed by all World Franchise Council (WFC) members every second week of June, honouring the impact and unity of the global franchise community through awareness programmes or conferences in Malaysia,' Ahmad Zahid said at the opening of the Asean Franchise Convention Declaration and the Franchise International Malaysia (FIM) Exhibition 2025. He added that Malaysia's franchise sector currently contributes over RM36bil to the gross domestic product (GDP) and provides more than 68,000 jobs, proving its significant potential. He said the joint declaration signed by franchise associations from six Asean countries marks a historic commitment to regional collaboration in franchise development. The declaration, read out by Asean Franchise Convention (AFC) director Deric Yeo, contained a commitment to ensuring Asean franchise sustainability, digitalisation and collaboration. The event was also attended by Entrepreneur and Cooperatives Development Minister Datuk Ewon Benedick and his deputy, Datuk Seri R. Ramanan. Ahmad Zahid said the ministry would also formulate a comprehensive Rural Youth Development Plan aimed at producing a digitally literate, knowledgeable and skilled young rural generation. The plan would not only create jobs through the establishment of Rural Gig Hubs, but also nurture young leadership by appointing Rural Youth Ambassadors to serve as the voice and representative of the new rural generation. Ahmad Zahid also urged the Community Development Department (Kemas) to strengthen engagement sessions with parents and educators to evaluate the impact of the Kemas Pre-Tahfiz Programme, which has been running for a year.
The Star
08-05-2025
- Business
- The Star
Ahmad Zahid proposes Asean franchise accelerator to boost franchise sector in Malaysia
KUALA LUMPUR: Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi on Thursday proposed three initiatives, including the introduction of the Asean Franchise Accelerator Programme, to elevate Malaysia's franchise ecosystem. He said the programme could serve as a flagship initiative to groom local franchise brands through expert mentorship, access to funding, and fast-tracked regional market entry. The second initiative is the Asean University Franchise Business Challenge Program, which, he said, is an initiative that gathers cutting-edge franchise concepts from university students across Asean, offering the best ideas the opportunity to be adopted, nurtured and scaled by leading franchise players. "Lastly, celebrating World Franchise Day, a global event observed by all World Franchise Council (WFC) members every second week of June, honouring the impact and unity of the global franchise community through awareness programs or conferences in Malaysia,' he said at the opening of the Asean Franchise Convention Declaration and the Franchise International Malaysia (FIM) Exhibition 2025 here Thursday (May 8). He said these ideas reflect the government's unwavering commitment to nurturing a new generation of franchise leaders who will carry the Malaysian flag proudly across Asean and beyond. Zahid said he firmly believes the franchise industry does more than boost national competitiveness as it generates jobs, cultivates entrepreneurs and builds cross-border connections that unite economies and communities. He noted that Malaysia's franchise sector currently contributes over RM36bil to the national gross domestic product (GDP) and provides more than 68,000 jobs, proving its significant potential. He expressed his excitement for the upcoming business matching sessions, which will feature over 100 franchise companies from both local and international backgrounds, offering exceptional investment and partnership opportunities at the convention. "I urge all Malaysians, especially our youth and aspiring entrepreneurs, to seize this moment. This is your launchpad to explore franchise ventures that align with your passion and ambition, and to propel yourselves onto the regional and global stage. "I am confident this convention will emerge as a premier platform focused on embedding sustainability into business models, leveraging cutting-edge digital technologies, and driving franchise growth that is competitive, resilient and future-ready,' he said. Meanwhile, Zahid said the joint declaration signed by franchise associations from six Asean countries marks a historic commitment to regional collaboration in franchise development. He said the Malaysian government fully supports the initiative and looks forward to it becoming a lasting and inclusive platform that benefits all stakeholders. The declaration, read out by the Director of Asean Franchise Convention (AFC), Deric Yeo, contained a commitment to ensuring Asean franchise sustainability, digitalisation and collaboration. The event was also attended by the Entrepreneur and Cooperatives Development Minister, Datuk Ewon Benedick, and his deputy, Datuk Seri R Ramanan. - Bernama TAGS: Ahmad Zahid Hamidi, franchise, FMI, convention, ASEAN
