KUALA LUMPUR, July 11, 2024 – The Malaysia External Trade Development Corporation (MATRADE) is optimistic that trade figures will improve this year. This optimism is based on an 8.7 percent growth in trade to RM1.158 trillion compared to the corresponding period last year, with exports increasing by 4.5 percent to RM605.25 billion and a trade surplus of RM52.01 billion.
MATRADE’s Senior Director of Strategic Planning, Raja Badrulnizam Raja Kamalzaman, shared these insights at the opening of the three-day Franchise Expo Malaysia (FEM) 2024. The event, organized by the Malaysia Retail Chain Association (MRCA), is being held at the Kuala Lumpur Convention Centre.
Raja Badrulnizam emphasized the pivotal role of retailers and franchisees in the economy’s development. He also highlighted the retail industry’s potential to boost tourism during Visit Malaysia 2026, aiming to attract 35.6 million tourists and generate RM147.1 billion in revenue in collaboration with the MADANI government.
Meanwhile, MRCA President Datuk Ken Phua announced the signing of a Memorandum of Understanding (MoU) with HELP University during FEM 2024. This initiative, valued at up to RM2 million, aims to establish joint programs and learning modules to upskill MRCA members’ employees, promoting lifelong learning and preparing them for advancements in AI and technological revolutions.
FEM 2024, now in its 7th edition since its inception in 2016, has grown to become one of Southeast Asia’s largest franchise expos, expected to attract over 15,000 visitors. Themed “Invest In The Future,” the event highlights the synergy between technological innovation and entrepreneurial excellence. Franchising is positioned as a strategic entry into entrepreneurship, offering a proven business model with reduced risk and ongoing expert support.
The expo features over 400 booths showcasing diverse franchise opportunities across sectors like food and beverage, education, healthcare, beauty, fashion, and more. This year’s event also sees participation from master franchisors from over 10 countries, including China, Singapore, Indonesia, and Taiwan, underscoring the global franchise market’s significant growth potential.
In conjunction with the expo, the MRCA Retail Conference 2024 will be held at the Mandarin Oriental Hotel here on July 12. The conference, titled “Post-Pandemic
Retail Challenges & Transformation,” will feature talks by industry leaders such as Ajith Kumar, TikTok Country Lead, Growth Partnerships for Malaysia, and Song Hoi See, the founder and CEO of Plaza Premium Group.
The retail conference will also include insights from 10 industry professionals on key topics like Brick & Mortar Retail Challenges and Transformation, How F&B Players Counter Global Sentiment, and Multiply Your Business Through Franchise. Despite the challenges posed by the COVID-19 pandemic, the industry grew by 8 per cent in 2020 and continues to show promise due to factors like a growing middle class, increasing demand for convenience, and available funding. Key growth sectors include food and beverages, education, health and wellness, retail, and services, with the halal franchise business gaining significant traction.
Also present were the past presidents of MRCA, Datuk Lee Hwa Cheng, Datuk Albert Chiang, Datuk Seri Garry Chua, Dato’ Sharan J. Valiram, Datuk Seri Nelson Kwok, Dato’ Tay Sim Kim, Shirley Tay and deputy president Dato’ Liew Bin.