BANGKOK, July 13 — Malaysia is willing to share its experience with Thailand on trade regulation in the franchise industry, said Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick.
As the government entity responsible for franchising, the Entrepreneur Development and Cooperatives Ministry (Kuskop) is ready to share his experience, especially on legislation in the franchise sector.
"I had the opportunity to discuss this with Thai Trade Minister Phumtham Wechayachai and was informed that in Thailand, there is no specific legislation or governing law for the franchise sector.
"Therefore, I informed Phumtham that Malaysia has the respective legislation, the Franchise Act 1998, to regulate the franchise industry, and we are ready to share experience if needed," he told Bernama today.
Ewon, who has been heading the Malaysian delegation at the International Franchise Trade Mission in Bangkok since Thursday (July 11), discussed trade cooperation in the franchise sector and the development of small and medium entrepreneurs with Phumtham, who is also Thailand's Deputy Prime Minister.
"We both agreed that departments and agencies under the ministry need to follow up on this discussion with B2B (business-to-business) cooperation.
"I also welcome the cooperation between the Malaysia Franchise Association (MFA) and the Franchise and Licensing Association of Thailand to develop the franchise sector in both countries," he said.
The minister is confident that Kuskop will succeed in reaching the RM30 million investment target in conjunction with the Thailand Franchise Business Opportunities Expo 2024 at the Bangkok International Trade & Convention Centre.
Seven Malaysian brand companies from the food, education, technology, and services sectors participated in this mission at TFBO 2024.
"I think this trade mission is a successful mission because the average company that participated this time has expressed their appreciation to the government and the ministry for providing this platform as a new chapter for them to introduce products and services as well as allowing them to find new trading partners," Ewon said.
He also met with industry players, the Malaysian diaspora, and Malawakil Bangkok, in addition to a working visit to the Cafe Amazon franchise company owned by a Thai company and to Laundrybar, a Malaysian franchise company operating in Thailand.
Also participating in the International Franchise Trade Mission for four days in Bangkok are MFA chairman Datuk Radzali Hassan and Perbadanan Nasional Bhd chairman Datuk Hazimah Zainuddin.
— Bernama
