Zahid urges youth to explore franchises beyond F&B
'The government recognises significant potential in other sectors that should not be overlooked. Our youth must take proactive steps, either individually or in groups, to enhance the quality of their products and services,' he said.
He was speaking at the opening of the ASEAN Franchise Convention (AFC) and Malaysia International Franchise Exhibition (FIM) 2025 at the Kuala Lumpur Convention Centre today.
Zahid also urged young entrepreneurs to engage with agencies such as the Malaysian Franchise Association (MFA) and the Ministry of Entrepreneur Development and Cooperatives (KUSKOP) to seek support and guidance in developing local products into competitive franchise brands.
'Local products must not only thrive in the domestic market but also be positioned for franchising and international expansion. The government has allocated substantial support for the franchise sector, complemented by a range of financing schemes,' he added.
He noted that the MFA has played an active role in developing a robust local franchise ecosystem poised to penetrate regional markets, particularly within ASEAN.
'The ASEAN market comprises approximately 600 million people. If we can tap just 10 percent of that, we're looking at a potential customer base of 60 million,' he said.
Also present at the event were KUSKOP Minister Datuk Ewon Benedick, Deputy Minister Datuk Seri R. Ramanan and MFA chairman Datuk Dr Radzali Hassan.
Meanwhile, Radzali said the convention, held from May 7 to 10, brings together more than 160 franchise companies and 250 exhibitors, and is expected to attract over 30,000 visitors, making it one of the largest franchise events in Southeast Asia.
'FIM 2025 showcases a wide range of local and international franchise brands from 16 countries, including China, the Philippines, India, Indonesia, South Korea, Singapore, Vietnam, and many more,' he said.
Radzali also expressed hope that the AFC and FIM would serve as catalysts for rapid growth in the national franchise industry, contributing to economic development and strengthening Malaysia's position at both regional and global levels.
Touching on Zahid's call for greater youth participation in entrepreneurship, he said the MFA remains committed to supporting young people as they take their first steps into the business world.
'We have designed numerous entrepreneurship programmes specifically for youth and university students. We hope to see more of them coming forward and actively engaging with the initiatives available.
'The younger generation today is more agile, intelligent, and digitally savvy, a major advantage that should be fully leveraged,' he added.
Radzali also noted that MFA was recently recognised by ASEAN Records as the organiser of the Longest-Running Annual Franchise Exhibition in ASEAN, with 32 consecutive editions of FIM since 1994.
'This recognition is a testament to decades of consistent effort and our role in driving the growth of the regional franchise sector,' he said.
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