The Ministry of Entrepreneur & Co-operatives Development of Malaysia (MEDAC) is targeting an investment potential of MYR10 million in conjunction with the Specialised Business Mission (SBM) in Manila, Philippines. This mission, a collaboration between MEDAC, the Malaysian Embassy in Manila, the Malaysia External Trade Development Corporation (MATRADE), and the Malaysian Franchise Association (MFA), was held last 24 June 2024 at the Dusit Thani Hotel in Manila, Philippines.
The inauguration ceremony was officiated by His Excellency Dato’ Abdul Malik Melvin Castelino, Malaysian Ambassador to the Republic of Philippines, and witnessed by the:
- Head of the MEDAC’s Delegation,
- Mr. Chek Zainuddin Chek Jusoh, Undersecretary of Franchise and Vendor Development Division, MEDAC;
- Mr. Mohamad Shukri Salleh, Vice Chairman of the Malaysian Franchise Association (MFA);
- Ms. Intan Zailani, Trade Commissioner, MATRADE Manila; and
- Mr. Richie Cuna from the Philippines Franchise Association (PFA).
The mission features four Malaysian franchise companies showcasing their services and products:
- UCMAS,
- IrisPro,
- Q-dees, and
- Muzart.
The SBM Franchise in the Philippines marks the second mission in 2024 under the Enhanced Franchise Development Program (EFDP), following a successful first mission in Jakarta, Indonesia from June 9 to 12, 2024.
The SBM aims to promote Malaysian local franchise brands and penetrate the business market in the Philippines through business matching and meetings between Malaysian companies and local Filipino investors and entrepreneurs. This bilateral cooperation is expected to strengthen franchise investments, driving innovation and industry growth both within and outside Malaysia. This strategy is part of the Government’s comprehensive initiative to position Malaysia as an innovation- and productivity-based economy.
The initiative has successfully attracted the participation of more than 100 local Filipino entrepreneurs, including those from the franchise industry in the Philippines, as well as representatives from the Philippines Franchise Association (PFA) and the Department of Trade and Industry (DTI), Philippines. The delegation also had the opportunity to pay a courtesy visit to the DTI and conduct a working visit to closely observe several Filipino and Malaysian franchise companies operating there.
