NATIONAL FRANCHISE POLICY 2030 TO BE PRESENTED TO CABINET SOON

KUALA LUMPUR, Nov 20 (Bernama) -- The National Franchise Policy 2030 (DFN 2030), which provides a clearer roadmap and opportunities for the industry to grow holistically, will soon be presented to the Cabinet for approval.

Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick said the policy aims to guide the national franchise sector, positioning it as a key driver of the nation's economy and Gross Domestic Product (GDP).

Previously overseen by the Ministry of Domestic Trade and Cost of Living (KPDN), the franchise sector is now centralised under the Entrepreneur Development and Cooperatives Ministry (KUSKOP), he said.

Beyond offering a solid policy framework, Ewon said KUSKOP, through Perbadanan Nasional Berhad (Pernas), is actively supporting pre-franchise entrepreneurs with various programmes, while also working closely with the Malaysian Franchise Association (MFA) to expand local franchises overseas.

“With this policy, we aim to stimulate the growth of the franchise sector and strengthen synergies with key industry players, including MFA,” he said when winding up the debate on the Supply Bill 2025 at the committee level for his ministry in the Dewan Rakyat today.

Meanwhile, Ewon also said that consultations with relevant stakeholders regarding proposed amendments to the 1993 Cooperatives Act are ongoing, to ensure that the legislation is updated to meet current needs before it is tabled in Parliament.

“The Cooperatives Act, which was enacted 30 years ago, has some limitations and must be amended to reflect current requirements,” he said.

Ewon further said that the national cooperative movement achieved RM64.6 billion in revenue in 2023, surpassing its original target of RM60 billion by 2050, well ahead of schedule.

Following the debate, the Dewan Rakyat approved an allocation of RM815,136,700 for KUSKOP in  Budget 2025.

The Dewan Rakyat session will resume tomorrow.

-- BERNAMA