PUTRAJAYA: The government intends to continue with micro franchise and affordable franchise development programmes next year as well as to ensure more receive their benefits especially those from the B40 and M40 groups, said Prime Minister Datuk Seri Ismail Sabri Yaakob.
He said the micro and affordable franchise development programmes which were introduced by the government this year to assist the B40 and M40 groups to be involved in the franchise industry, had received a very encouraging response.
To date, he said 144 applications from franchisors and potential franchisees worth RM22 million have been received to be processed for the programmes under the Domestic Trade and Consumer Affairs Ministry (KPDNHEP).
Eight franchisors and 29 franchisees have received government assistance through these programmes with an annual allocation amounting to RM4.5 million for the current year, he said when speaking at the 23rd Malaysia Franchise Awards Night 2021 (MAF 2021) here today.
Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi on April 6 announced a programme grant package aimed at developing more franchise packages worth RM100,000 and below as well as increasing the number of franchise industry players from the B40 and M40.
Ismail Sabri said the success of the micro and affordable franchise programmes was part of the 100-day key performance indicator (KPI) of Cabinet Ministers to be evaluated under the aspiration of the Malaysian Family.
He said the franchise industry is providing more 80,000 jobs, a contribution valued at more RM1.4 billion in the annual economic cycle for workers of franchise companies.
As at Nov 30, (2021), the value of the franchise industry has surpassed RM14.6 billion, an increase of almost 10 per cent compared to the year before even though the current financial year has not yet ended and the world is still facing the COVID-19 pandemic, he said.
He added that Malaysians should be proud that local franchise brands have succeeded in setting foot in more than 70 countries with Saudi Arabia as the country with the most Malaysian franchise brands with 744 outlets , followed by Indonesia (670 outlets) and the United States with 424 outlets.
"With the united and strong support of the Malaysian Family for local franchise brands. we would be able to explore and expand the Malaysian franchise brands further in the international market," he said.
Ismail Sabri said the franchise industry is expected to continue contributing to the rehabilitation of the country's economy from this year with various initiatives and programmes implemented by the government.
"The government will continue to support the development and growth of the franchise industry to ensure more players could be created while creating more job opportunities for the Malaysian Family," he said.
According to him, under Budget 2022, especially for franchise development and direct sales, the government is allocating RM3 million to drive the franchise industry further.
He said franchising is a form of business that is fast gaining popularity among traders and members of the public as the concept of business has proven to be viable apart from the popular brands.
"Through the franchise system, the business could be expanded faster through its large network. This would also assist to stimulate economic activities in the country especially in food and drinks, retail, education and services sectors," he said.
According to Ismail Sabri, the total franchise business registered with KPDNHEP to date total 1,093 companies covering local and foreign franchise brands.
Meanwhile, Malaysian Franchise Association (MFA) chairman Datuk Radzali Hassan in his speech said MFA would continue to implement programmes and activities to meet the demand and needs of the industry to support the government efforts to keep positive economic growth in the country.
At the award ceremony tonight, there were 13 categories of awards involving franchisors, franchisees, master franchisees, media and organisations as well as individuals who contributed and served in the growth of the national franchise industry.
Malaysian National News Agency (Bernama) journalist, Nor Amirah Mahmuddin won the Best Journalist Award at the ceremony with her article "Genius Aulad Peneraju Industri Pendidikan Awal Kanak-Kanak".
-- BERNAMA
Bernama
Wed Dec 01 2021
Ismail Sabri said the government intends to continue with micro franchise and affordable franchise development programmes next year as well as to ensure more receive their benefits especially those from the B40 and M40 groups. - BERNAMA
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
NFOF will be operational in November 2024 with funding of RM1 bil
PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.
Minimum wage to increase to RM1,700 effective Feb 1, 2025
The Progressive Wage Policy would be fully enforced next year with an allocation of RM200 million, benefiting 50,000 workers.
Bursa Malaysia ends higher on Budget 2025 optimism
The benchmark index, which opened 1.85 points higher at 1,643.29, moved between 1,641.71 and 1,649.31 throughout the trading session.
Five important aspects relating to people’s lives in Budget 2025 - PM
The focus is on driving the MADANI Economy, speeding reforms, cutting red tape, raising wages, and tackling the cost of living.
Economic outlook: Govt plans to leverage, expand existing city transit system
The expansion aims to provide a more efficient and reliable public transportation network, reduce congestion, and improve accessibility.
Economic outlook: Budget 2025 to lay foundation for a digital-driven economy
The report said Budget 2025 will entail efforts to position Kuala Lumpur as a top 20 global startup hub by 2030 through the KL20 initiative.
Economic outlook: Corruption and lack of accountability hinder economic progress
Special Cabinet Committee on National governance is established to curb corruption, law reforms to modernise outdate regulations, MoF said.
National Wages Consultative Council will be strengthened
The govt will also incentivise hiring women returning from career breaks, offer job matching and improve care services facilities.
Economic outlook: Ensuring 11 years of compulsory education for all children
Budget 2025 will continue prioritising upskilling and retraining initiatives to equip workers with the latest skill sets necessary.
Consolidated public sector projected to record lower surplus of RM41.7 bil 2024
The MoF said the consolidated general government revenue is estimated to increase slightly to RM384.7 billion in 2024.
PM announces substantial Budget 2025 hastening Malaysia to become Asian economic powerhouse
Datuk Seri Anwar Ibrahim said it would create jobs and also tackle financial leakages to enhance public spending efficiency.