Malaysia: RM500mil to be invested in Halal medical inventory

| 28/10/2015 | Reply

KUALA LUMPUR: The halal sector within the healthcare industry provides significant business opportunities waiting to be explored, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

He said that Malaysia was keen to explore the increasing potential to change over-the-counter medicines and herbal-based food supplements into halal products.

“The market for bio-generics is relatively unexplored and is another area with opportunities for further development into halal products,” he said in his opening address at the “Halal Initiatives in the Healthcare Industry” ceremony, yesterday.

  1. At the event, a collaboration was signed between the Halal Industry Development Corporation and AJ Pharma Holdings, to develop a platform for research and development of vaccines and turning Malaysia into a halal vaccine hub.

Dr Ahmad Zahid also announced the investment of the Saudi-based Al-Jomaih Group in two projects at the Enstek Halal Park in Negri Sembilan, which adds up to RM286mil.

Breaking new ground: Dr Ahmad Zahid opening the Halal Initiatives in Health Care event at the Grand Hyatt hotel in Kuala Lumpur.

Breaking new ground: Dr Ahmad Zahid opening the Halal Initiatives in Health Care event at the Grand Hyatt hotel in Kuala Lumpur.

Dr Ahmad Zahid added that the Al-Jomaih Group plans to invest up to RM500mil in the halal healthcare industry in the near future.

He said that Malaysia’s healthcare industry had achieved significant milestones including, being accepted into the Pharmaceutical Cooperation Scheme.

“This indicates the industry’s high manufacturing standards, and opens up export to member countries such as the European Union, Australia and Canada.

“We also have a well-regarded local regulatory framework that is already in place within the industry,” he said.

Meanwhile, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said halal pharmaceutical exports recorded a steady growth, totalling up to RM509.8mil last year compared with RM407.2mil in 2013.

“The total export for this sector accounted for 1.35% of total halal exports in 2014.

“The increase in demand directly offers plenty of room for industry players seeking trade and investment opportunities in the sector,” said Mustapa.

ARTICLE TWO

By ALIZA SHAH and NAIM ZULKIFLI –
Medical tourism industry expected to generate RM2b by 2020
KUALA LUMPUR: Malaysia’s burgeoning medical tourism industry is expected to generate RM2 billion annually by 2020. Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said under the 11th Malaysia Plan period, income from medical tourism is projected to grow 15 per cent annually.
“According to the Ministry of Tourism and Culture, Malaysia attracted about 800,000 medical tourists in 2014 from 770,000 in 2013. “The earnings generated last year are estimated to be RM730,000 million,” he said adding that Malaysia had recently won the Medical Travel “Destination of the Year 2015” award which was presented by the UK’ International Medical Travel Journal.
Speaking at the Halal Initiatives in Healthcare Industry forum today, Zahid said in an effort to promote the development of halal vaccines, a joint study had been conducted by AJ Pharma Holdings with the government, through Halal Industry Development Corporatuon (HDC). “The study verifies that opportunities exist for countries to invest and intensify R&D to develop halal pharmaceuticals, including vaccines for the growing Muslim population worldwide,” he said.
Zahid also announced that Saudi-based Al Jomaih Group had invested in two projects at Enstek Halal Park in Negeri Sembilan. “AJ Biologics Sdn Bhd, with investments totaling RM160 million has been approved to manufacture pharmaceutical and nutraceutical products. “I am proud to say that this is Malaysia’ first ever ‘formulation, fill and finish’, state-of-the-art vaccine facility,” said Zahid. Zahid said another RM126 million project by AJ Research and Pharma Sdn Bhd, was research driven and geared for the production of high quality pharmaceutical and consumer health products.

Read More : http://www.nst.com.my/news/2015/10/medical-tourism-industry-expected-generate-rm2b-annually

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Category: Asia, Middle East & Africa, Pharmaceuticals, Research, Saudi Arabia, Trade Events

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