BANGKOK: The franchise sector in Thailand is encouraged to delve into the diverse array of Malaysia's franchise brands during Thailand Franchise Business Opportunities Expo (TFBO) 2024, to expand their businesses.
Minister of Entrepreneur Development and Cooperatives, Datuk Ewon Benedick (pic) said seven of Malaysia’s top brands, namely D’ Tandoor, FatNinjas, Global Art, IrisPro, MuzArt, Myeongdong Topokki and Cleanpro are exhibiting at the Malaysian Pavilion during the TFBO.
"This event would serve as a catalyst for both parties to initiate the growth and expansion of their businesses by investing in Malaysian franchise brands here in Thailand," he said in his speech during the launching of Malaysian Pavilion at TFBO held at Bangkok International Trade & Exhibition Centre here on Thursday (July 11).
He said Malaysia and Thailand have nurtured a longstanding and fruitful relationship over the years with economic collaborations being a cornerstone of this partnership, characterised by substantial trade and investment interactions.
"Malaysian franchises have successfully penetrated the Thai market, introducing a variety of business models and innovative concepts. Concurrently, Thai entrepreneurs have achieved prosperity in Malaysia, enriching our local business environment with fresh ideas and opportunities.
"Our governments have been instrumental in supporting this growth, offering various incentives, financial assistance, and training programmes to encourage cross-border franchising and entrepreneurial ventures. Events like the Thailand Franchise & Business Opportunities (TFBO) Expo provide a platform for businesses to connect, explore opportunities, and forge new partnerships," he said.
On the franchise sector in Malaysia, Ewon said the franchise industry in Malaysia has grown significantly, becoming a key part of the country's economy.
He said in 2022, Malaysia's franchise industry experienced substantial growth, reaching RM36 billion in total annual sales, a 20 per cent increase from the previous year.
Ewon was on four-day International Franchise Trade Mission in Bangkok, together with the chairman of Malaysian Franchise Association (MFA) Datuk Dr Radzali Hassan and chairman of Perbadanan Nasional Bhd (Pernas), Datuk Hazimah Zainuddin.
Earlier on Thursday, Ewon also paid a courtesy call on Thailand’s Deputy Prime Minister and Commerce Minister Phumtham Wechayachai.
On Friday, Ewon is expected to be on a working visit to the Laundrybar outlet in Bangkok and also to Cafe Amazon, one of the largest coffee franchises in Thailand, in Ayutthaya, before hosting a networking dinner with industry representatives, diaspora, and Malawakil Malaysia in Bangkok. - Bernama
