Malaysia Retail Chain Association (MRCA) aims to ‘reboot’ the retail and franchise industry through its fifth Malaysia International Retail and Franchise Exhibition (MIRF) 2022, which is held from 14 to 17 July at the Kuala Lumpur Convention Centre (KLCC).
The event was officiated by Datuk Haji Zamri Bin Salleh, Deputy Secretary General of the Ministry of Entrepreneur Development and Cooperative (MEDAC), on behalf of its Minister, Tan Sri Noh Bin Haji Omar, who is optimistic of the industry’s post-pandemic recovery and growth.
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“The confidence is carried by the impact of the sustainable recovery made by the Malaysian retail industry since the end of last year, which recorded a steady growth of 18.3 per cent for the first quarter of 2022 and is projected to increase to 25.7 per cent by the next quarter based on the latest Malaysia Retail Industry Report,’’ said the minister in his speech, which was delivered by MEDAC Deputy Secretary General, Datuk Haji Zamri.
Datuk Haji Zamri continued, “Apart from setting a target for the franchise industry to contribute 9.4 per cent to gross domestic product (GDP) by 2022, the government also plans to create 18,000 new job opportunities by 2025. This is in line with our firm commitment to develop more entrepreneurs, especially in the franchise industry,”
This year’s MIRF exhibition focuses on the theme ‘Retail & Franchise: REBOOT’, which is MRCA’s initiative to become a growth platform for retail and franchise businesses to not only expand in terms of revenue but also reshape and cultivate new business models and innovation strategies after the pandemic period.
“Through MIRF, we are committed to make Malaysia the springboard for retailers and franchise businesses to grow, where brands, organisations and industry practitioners to gather in one place to network and transact businesses in real time,” said MRCA president, Sharan Valiram.
MIRF organising chairperson, Christine Tan, also shared similar sentiments on the event. “We trust that MIRF is more than capable to create and facilitate business opportunities not only for the retail sector but also provide a platform where the business community congregate for serious and vast opportunities,” noting that the event is also a historic milestone as the industry emerged from the pandemic.
The retail and franchise industry will continue to experience sustainable growth if industry players join forces with government and private agencies to make Malaysia an emerging retail and franchise hub within the region.
“It was noted that there are positive indications that the final sales figure this year would reach RM13 billion, judging from the inherent strength of this industry despite the pandemic. Once again, the statistics has proven the vital contribution the retail industry brings to the Malaysian economy. It is one of the top three contributors to the national GDP,” Sharan Valliram added.
MIRF 2022 features over 400 exhibition booths, which covers a large spectrum of the retail and franchise industry. Renowned local franchises such as Marrybrown, Bask Bear Coffee, Ah Cheng Laksa, Vanilla Crepe and many other local retailers and franchises participate in the exhibition.
The exhibition also includes overseas retailers and franchises from 10 countries, including South Korea, Singapore, Taiwan, India, Pakistan, Japan, Cyprus and the Philippines. A dedicated section to promote Halal products is another feature at MIRF 2022.
The exhibition is supported by MRCA Corporate Patrons namely Maxis, Fusionex and RHB, and supported by Malaysia External Trade Development Corporation (MATRADE), Malaysia Convention & Exhibition Bureau (MyCEB), Franchising and Licensing Association (FLA) Singapore, Busan Economy Promotion Agency (BEPA), Taiwan External Trade Development Council (TAITRA) and others. Sponsors include PERNAS as the Gold Sponsor, China Mobile, Infra Bunga, Shopline, UT Robotics and ZCITY as Silver Sponsors, and Malaysia Airlines and Time.com as Bronze Sponsors. 
Reported by Kanessha Rama Krishnan, News Hub Asia.
