11 huge new chain stores called 1MDS will be opened in the next 5 years in Iran to promote Malaysian goods in the Islamic Republic.
Malaysia's Dato' Seri Jamil Bidin said that these franchise shops will open in the next 5 years at a cost of $600 million for marketing halal goods and services.
The CEO of the Halal Industry Development Corporation added that the goal behind the venture is to introduce and promote Malaysian products not only into Iran, but also in west Asia.
Bidin went on to say that the first 1MDS store will be opened in July 2011 in Tehran and two stores will be opened annually for the upcoming five years.
According to the Malaysian businessman these stores will be a showcase for halal foods and beverages, cosmetics and clothes fashions.