KUALA LUMPUR, June 14 — The 31st International Franchise Conference Malaysia 2024 (FIM2024), held from May 30 to June 1, 2024, has successfully recorded potential business franchise investments worth RM716 million.

Entrepreneur Development and Cooperatives Minister, Datuk Ewon Benedick attributed this success to the compelling business propositions presented by over 100 local and international franchise companies.

"A total of 16 international franchise companies from Saudi Arabia, Australia, China, the Philippines, India, Japan, South Korea, Singapore, and Thailand participated in the event.

"FIM2024 was an ideal platform for industry leaders to showcase franchise business opportunities and foster business expansion both domestically and internationally through strategic engagements with prospective franchisees and investors,” he said in a statement today.

Themed ‘From Network to Net Worth in Franchising’, FIM2024 not only aimed to globalise franchise businesses but also to strengthen Malaysia’s economic foundation.

According to the Entrepreneur Development and Cooperatives Ministry, the conference had successfully sparked interest among local and foreign entrepreneurs to explore the franchise sector as a pivotal driver of economic growth.

It noted that this year’s event had attracted more than 30,000 visitors, marking a 50 per cent increase compared to the previous year.

The ministry added that Malaysia will be hosting the Asia-Pacific Franchise Confederation (APFC) and the Annual Meeting of the World Franchise Council (WFC) from May 27-29, 2024. — Bernama