KUALA LUMPUR: Data relating to franchising is being collected to formulate a masterplan for the industry’s development, said Deputy Prime Minister Datuk Seri Najib Tun Razak. He said plans for the development of the franchise industry could be accurately prepared if there was a detailed profile. Of the 321 registered franchises in the country, 205 are local. The industry has a 15% annual growth rate. Najib, who was speaking at the Franchise Awards Night, said the Government would continue to strengthen the industry, including reviewing certain aspects of the Franchise Act. He said the Government would also create a franchise mediation centre to handle conflicts between franchiser and franchisee while the Entrepreneur and Co-operatives Development Ministry was setting up a franchise enforcement unit. The ministry, he said, was also taking the necessary steps to further strengthen the Local Franchise Product Development programme to explore more “franchiseable” opportunities in sectors such as education, services, halal products and tourism. Najib said the Government encouraged the export of franchises because it could generate income in the long term. Malaysian Franchise Association chairman Datuk Mukhriz Mahathir said to further develop the industry, support from financial institutions, preparedness of entrepreneurs and brand building were needed.
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