Datuk Seri Najib Razak says Malaysia’s franchise industry was part of the 11th Malaysia Plan to propel the country to reach its targeted developed nation status within the next five years. ― File picKUALA LUMPUR, June 13 ― Malaysia’s franchise industry could see up to 50,000 new jobs created, boosting the number of local businesses abroad, Prime Minister Datuk Seri Najib Razak said today.

Najib who is also finance minister said the industry that emphasises “innovation and productivity” was part of the 11th Malaysia Plan (11MP) to propel the country to reach its targeted developed nation status within the next five years.

“We want to see the sector move from being one that is labour-intensive and highly dependent on cheap foreign labour, to one that thrives on innovation and creates high paying jobs.

“These are core thrusts of the 11th Malaysia Plan that I tabled in Parliament last month and these two elements, innovation and productivity, can clearly be seen in every franchise system,” he said at the launch of the Franchise International Malaysia here.

He said Malaysia currently has 80 micro franchise businesses locally, with another 40 franchises expected to pop up abroad on a yearly basis.

- See more at: http://m.themalaymailonline.com/malaysia/article/franchise-industry-to-create-50000-new-jobs-as-11mp-plan-for-2020-says-pm#sthash.Z7PGERu8.dpuf