MEDC targets RM30 million investment potential from the Franchise Trade Mission to Bangkok

15 July 2024

PUTRAJAYA: The Ministry of Entrepreneur Development and Cooperatives (MEDC) is aiming for a potential investment worth RM30 million during the Franchise Trade Mission to Bangkok in conjunction with the Thailand Franchise Business Opportunities Expo (TFBO) 2024, at the Bangkok International Trade & Convention Centre (BITEC), Bangkok, Thailand.

The three-day mission, which will end tomorrow (13 July), is led by the Minister of Entrepreneur Development and Cooperatives, Datuk Ewon Benedick, with the aim of promoting local Franchise companies internationally, particularly in Thailand, which has a large market potential with a population of 71.6 million people.

Ewon also officiated the Franchise Malaysia Pavilion at TFBO 2024, showcasing products and services from seven Malaysian companies in the food, education, technology, and service sectors.

The companies participating in this mission are D’ Tandoor, FatNinjas, Global Art, IrisPro, MuzArt, Myeongdong Topokki, and Cleanpro.

During the inauguration of the Franchise Malaysia Pavilion, Ewon hoped that the programme would serve as a catalyst for both parties to develop business through Malaysian brand franchise investments in Thailand.

He stated that Malaysia and Thailand have had a close and good cooperation for a long time in various fields, including trade and investment, particularly in the franchise and entrepreneurship sectors.

Meanwhile, in a roundtable discussion with the Franchise industry in Thailand, Ewon welcomed the cooperation between the Franchise & Licensing Association (FLA) of Thailand and the Malaysian Franchise Association (MFA) to strengthen the development of the business-to-business community of both associations.

"This discussion also concerns the development of the franchise sector in Thailand and the exchange of information and views to further enhance cooperation in the future," said Ewon.

Later, Ewon and the delegation held a meeting with the Deputy Prime Minister of Thailand and Minister of Commerce Phumtan Wechayachi.

"We discussed strengthening cooperation in the franchise and micro, small, and medium enterprises (MSMEs) sectors. Both of us also appreciate the desire and commitment for information and expertise exchange through ministries and agencies," he said.

Also present at the meeting were the Malaysian Ambassador to Thailand, Datuk Jojie Samuel, the Chairman of PERNAS, Dato Hazimah Zainuddin, the Chairman of MFA, Datuk Dr. Radzali Hassan, as well as officials from KUSKOP and the Malaysian Embassy in Bangkok.

During this visit, Ewon also held meetings with industry representatives, Malaysian diaspora, and Malaysian representatives in Bangkok, in addition to visits to the Thai company-owned Cafe Amazon franchise and Laundrybar, a Malaysian franchise company that has been operating in Thailand.

This initiative is a collaboration between MEDC, MFA, the Malaysian Embassy in Thailand through the Ministry of Investment, Industrial, and International Trade (MITI), and the Malaysia External Trade Development Corporation (MATRADE).

This effort aims to realise the MEDC 2024 Strategic Plan themed "MADANI Entrepreneurs, Driving the Economy" in line with the aspiration and framework of Malaysia's MADANI vision under the pillar of the value of "well-being," which signifies a balanced life to guide Malaysia towards becoming an advanced and prosperous nation.