Malaysia: HDC Eyes Doubling Halal Product Exporters

| 16/07/2015 | Reply
KUALA LUMPUR, (Bernama) — As the Halal Industry Masterplan heads into its third phase next year, the Halal Industry Development Corporation (HDC) aims to double the number of companies exporting halal products to 1600.

imagesManaging Director/Chief Executive Officer Datuk Seri Jamil Bidin said the corporation which streamlines the development of the halal industry as a whole in Malaysia, is close to competing the second phase of efforts to place the country as an investment hub for the halal industry.

To date, investments in the local halal industry stands at RM15 billion, and achieving the target set by the HDC.

The Halal Industry Masterplan is a comprehensive strategic plan for the development of the sector with three phases. The first was from 2006-2010, and the second began in 2011 to end this year. The third phase starts next year and runs to 2020.

“For the third phase, the HDC hopes to see more local companies with the ability to export products to the global market.

“We also desire to witness the birth of more large companies which can become players in the global halal market,” Jamil told Bernama.

He cited Bangladesh, India and Pakistan as markets with the potential to be explored by Malaysian halal industry players, particularly those involved in the food and beverages segment.

“The large Muslim population in these countries will see increasing demand for halal products and the local players should take the opportunity to research consumer needs there,” Jamil said.

“Indonesia also deserves attention as the market is always expanding due to an annual increase in the population and for the fact that it is a close neighbour,” he added.

He said Malaysia will work closely with Japan which is now aggressively developing the halal industry, mainly due to it staging the 2020 Olympics.

“Recognising that the Games also involve Muslim athletes, Japan, through the Japan External Trade Organisation (Jetro), wants to be ready to serve their needs.

“At the same time, Japan wants to make available halal products for visitors making that country their holiday destination,” Jamil added.

Other than Japan, the HDC also wants the larger companies in Malaysia to explore and enter the markets of other Islamic countries.

Malaysia is seen as having a complete halal industry ecosystem and was now in the stage of enhancing planning for cooperation.

For the first quarter of 2015, the HDC registered an export value of RM10.81 billion, a 17.74 per cent improvement over the RM9.18 billion posted in the same period of last year.

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Category: Asia, Finance & Investment

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