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PNS plans to expand franchise portfolio to RM700 million

Perbadanan Nasional Bhd (PNS), an agency under the Ministry of Entrepreneur Development and Cooperatives (Medac), is targeting a minimum of 5,000 financing approval to entrepreneurs which is expected to expand the franchise portfolio by 400 % from RM178 million to RM700 million.

Its minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar said this five-year strategy plan is expected to create 18,000 jobs and contribute RM4.4 billion towards the Gross Domestic Product (GDP).

He said franchising could help Bumiputera entrepreneurs in improving their socio-economic position, especially through PNS’s Business-In-Transformation (BIT) programme that encourage entrepreneurs to expand their business through franchising.

“The cooperation between Medac and PNS proves that ministries and agencies are able to create a network of cooperation which, in turn, produces more entrepreneurs adopting this business concept.

“This effort encourages economic growth, especially for Bumiputera entities to venture into franchise business,” he said in a statement.

While PNS gears its goals towards building an effective franchise ecosystem with a comprehensive value chain supported by digital technology, it will also empower the socio-economic development of Bumiputera through entrepreneurship.

Since 2005, PNS has disbursed total franchise financing of RM463 million to 2,529 entrepreneurs.

Source: The Malaysian Reserve

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