Domestic Trade and Cost of Living Ministry expects trade mission to Vietnam to reach RM40 million investment mark

02 Nov 2023 08:04pm

Photo for illustrative purposes - FILE PIX

PUTRAJAYA - The Domestic Trade and Cost of Living Ministry aims to attract RM40 million in investment from its franchise trade mission to Ho Chi Minh City, Vietnam.

In a statement today, the ministry said the three-day franchise trade mission, which started today, was held in conjunction with the 14th Vietnam International Retailtech & Franchise Show 2023 (VIETRF 2023).

The delegation was led by the ministry's senior director Mohammad Sanusi Abdul Karim, Malaysian Consul General in Ho Chi Minh City Firdauz Othman and Malaysian Franchise Association (MFA) vice-chairman Mohamad Shukri Salleh.

Also participating in the mission are nine leading local franchise companies, namely Marrybrown, US Pizza, Q-Dees, HOME Maths Therapy, Smart Reader Kids, LaundryBar, MEIKO, Midyson and Sangkaya.

"The ministry is optimistic that the companies participating in the trade mission to Ho Chi Minh will get positive results for the return of investment to the country.

"It is in line with the potential investment target set at RM40 million for all nine companies participating in this trade mission," the statement said.

A total of 360 local brands and companies from around the world are participating in VIETRF 2023, with more than 14,000 visitors expected.

The ministry said the Malaysian delegation will also hold a number of work programmes such as meetings with the Malaysian Consul General in Ho Chi Minh City, the Investment and Trade Promotion Centre of Ho Chi Minh City and a visit to an outlet of Malaysian franchise brand, Global Art.