The Domestic Trade, Cooperatives and Consumerism Ministry will intensify the Franchise Malaysia Goes Global (FMGG)programmeand the Enhanced Franchise DevelopmentProgramme(EFDP) to promote local franchises to the Asean, Middle Eastern and East Asian markets.

Its minister Datuk Seri Hamzah Zainuddin said the ministry had a vision to create a dynamic franchise industry which was competitive and would be a major contributor to the country's economy.

He said the franchise industry contributed significantly to the national economy, with RM26.8billonor 3.4 percent to the Gross Domestic Product last year.

"I am confident that promoting local franchise brands overseas will helprealisethe government's agenda to make Malaysia a franchise hub in the South East Asian region," he said at the award presentation ceremony of the Ar-Rahnu X'Change 2016 here Friday.

The text of his speech was read out by Bank Rakyat Chairman Tan Sri Shukry Mohd Salleh.

Also present were the ministry's secretary-general Datuk Seri Jamil Salleh and Chairman of Management Service Sdn Bhd Datuk Seri Alias Ahmad.