Invest In The Future: Discover New Opportunities At FEM 2024

Former MRCA President Datuk Seri Garry Chua (far left), FEM Organising chairman Terry Tay (second from left), MRCA President Datuk Ken Phua (sixth from left ), MRCA Deputy President Dato’ Liew Bin (second from right) and MRCA Retail Conference Organising chairperson Christine Tan (far right) thanking the sponsors of Franchise Expo Malaysia 2024. Photo: MRCA.


KUALA LUMPUR, (May 16, 2024) – Malaysia, known for its multi-racial community, presents attractive opportunities for Chinese entrepreneurs seeking to expand into Southeast Asia.

This was highlighted by Malaysia Retail Chain Association (MRCA) Deputy President Dato' Liew Bin at a press conference announcing Franchise Expo Malaysia (FEM) 2024. The event will be held at the Kuala Lumpur Convention Centre (KLCC) from July 11 to 13.

Liew encouraged local retailers and franchisors to learn from the innovation and entrepreneurial spirit of their counterparts in China and Taiwan. He emphasised that many Taiwanese aspire to business ownership, a model that local entrepreneurs could emulate. He also highlighted franchising as an excellent option for both new and established entrepreneurs looking to expand, noting the MRCA's role in nurturing local franchisors.

MRCA President Datuk Ken Phua stressed the importance of environmental sustainability through Environmental, Social, and Governance (ESG) initiatives and understanding the needs of all consumers. He urged businesses to embrace adaptability and innovation.

According to the Department of Statistics Malaysia, the wholesale and retail trade sector grew by 5.2 per cent, reaching RM145.7 billion in March 2024 compared to RM138.5 billion in March 2023. Despite a slight slowdown in the last quarter, retail growth remained strong at 2.2%, contributing to a 3.7% Gross Domestic Product (GDP) growth.

"With all this positivity, we anticipate substantial growth in the wholesale and retail trade this year," Phua said.

FEM 2024, now in its 7th edition, provides a platform for local and international businesses to explore opportunities, gain insights into industry trends, and network with key stakeholders. Formerly known as the Malaysia International Retail and Franchise (MIRF) exhibition, the event has grown from 230 booths in its first year to 500 booths this year.

FEM 2024 is expected to attract 15,000 visitors and generate over RM100 million in sales transactions. Exhibitors from more than 10 countries, including Malaysia, Singapore, China, Taiwan, Indonesia, Cambodia, and India will participate.

China and Taiwan will have dedicated pavilions showcasing their unique offerings and innovations.

Admission is RM450 for members and RM500 for non-members, with early registration discounts available (RM405 for members and RM450 for non-members).

 

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