WEBINAR HALAL SECTORAL ROADMAP IMPLEMENTATION 2021
Seizing Opportunities In Halal Industry For Pharmaceuticals And Food Services 17 March 2021
The following is the Official Address by En Hairol Ariffein Sahari, Chief Executive Officer, Halal Industry Development Corporation:
• It is my great pleasure to be here this morning to welcome all of you to the Halal Sectoral Roadmap Implementation (SRI) today, organised by the Halal Development Corporation. As we are aware that the first few months of 2021 has been difficult due to amidst lockdowns and battling Covid-19 pandemic, nevertheless we will continue to embrace the new norm for a stronger future economic recovery, Insha Allah.
• I am pleased to share that HDC has put in place Halal sectoral roadmaps to strengthen the Halal national blueprint based on current global economic scenario.
• I hope the Halal Industry Roadmap in 2 sectors which are Pharmaceuticals and Food Services will achieve our objective to obtain buy in, acceptance and feedback from public and private stakeholders’ representing business communities, educators and consumers alike. This initiative is certainly appropriate in view of the current global economic outlook and increasing demand for high value halal products and services. It also reaffirms HDC’s commitment to increase halal industry economic returns focusing on our niche areas within the halal promoted sectors.
HALAL MARKET OPPORTUNITIES
• With 1.8 billion Muslims, around one-quarter of the world’s population, there is a substantial potential to grow halal economy. As we are fully aware that the Halal industry has grown by USD3.1 trillion in 2018, and is expected to grow to USD5 trillion by 2030. According to Reuters, the halal food industry alone is worth USD 1.6 trillion, while the halal cosmetics industry and the halal pharmaceuticals industry are both worth some USD 39 billion and USD 97 billion respectively.
• Locally, it is estimated that both Halal sectors will record a positive growth of 18% CAGR for Food Services and 4.2% CAGR for Pharmaceuticals by 2025. Food Services expected to record revenue of minimum RM40bil and Pharmaceuticals to record revenue of RM1.6 bil, and total employment expected will be more than 112,000 cumulatively, total export of RM440 mil and private investment of RM550 mil by 2025 for both sectors. I am confident that Malaysia will be a leading contributor to global consumers’ consumption on halal food and products.
HDC NEW TRANSFORMATION AND ACHIEVEMENTS
• In line with the HDC vision to “Make halal the first choice in business ventures” and its mission of “Providing solutions for businesses to excel in the halal market spaces”, strengthened by the placement of HDC under the MITI, this demonstrates the commitment by the Government to advance Malaysia’s Halal industry. This is will not only through be industrial development but also through greater investments and expansion into international markets.
• We have achieved significant milestones thus far in developing this industry and many countries have recognised Malaysia’s leadership in the global halal industry. As of to date, we have recorded a total investment of RM16 billion, export value of RM40 billion a year in average and 350,000 employment in total.
HALAL SECTORAL ROADMAP
• Realising the importance of Halal Sectoral growth and demand globally, not only from OIC countries, but also emerging countries and continents, HDC has identified 11 key sectors to grow, among others Food Services and Pharmaceuticals, Halal Ingredients, Halal Medical Tourism, Halal Cosmetics, Halal Logistics and Halal Modest Fashion.
• For an inclusive and holistic approach in growing the industry, the private and public sectors stakeholders are engaged for consultative input. More than 70 stakeholders in Food Services and Pharmaceuticals have been invited to two strategic workshops between August and October last year to give valuable inputs including challenges and interventions required. Through a clear context on the challenges faced, targeted interventions are developed to help addressing them, followed by a detail action plan on how the interventions are to be delivered with milestones and potential owners.
• In Food Services, 6 Halal Key Results Area with 7 initiatives and 17 interventions have been identified to address 6 issues surrounding the sector, whereas in Pharmaceuticals, 4 Halal Key Results Area with 6 initiatives and 21 interventions have been identified to address 5 issues surrounding the sector.
• Upon completion of the Roadmap development, we have established Implementation Working Committee, namely the Sectoral Working Group for Pharmaceuticals and Food Services. This working group comprises of expert in Halal industry and will play as advisory roles in making sure the roll out of all high impact initiatives progressing until 2025.
• Issues and roadblocks will be resolved within the sectoral working group and escalation to the highest level of Majlis Pembangunan Industri Halal will take place as part of implementation governance. Implementation will also involve coordination between relevant ministries and agencies.
• Insha Allah, with solid roadmap and implementation governance in place, our target to achieve RM40 bil revenue generated by Halal Food Services and RM1.6 bil revenue generated by Halal Pharmaceuticals will be materialised by 2025.
HALAL INDUSTRY SHOWCASE
• HDC will in the near future unveil strategic and high impact initiatives that have been identified in both sectors at the Halal Industry Showcase. The showcase presents huge potential and provides a summary view of Malaysia’s halal economy landscape through its sectoral development approach.
• The information sharing will cover the halal industry key strategies; the key sectors focus as well as opportunities for Malaysia to capture the global halal market. The purpose of the Malaysia Halal Industry Showcase is to provide an up-to-date overview of Malaysia’s halal industry, sharing its key implementation strategies its sectoral development approach to business leaders, entrepreneurs, government officials and industry bodies to inspire greater participation in the global halal economy for the good of all.
• Before my closing, I am proud to share a very significant milestone in the Malaysia halal industry where HDC in collaboration with DOSM will be working towards the production of Malaysia’s Halal Industry Statistical Data Analysis & Sharing, the first world verified of halal big data backed by the Government to pave the way for more precise economic indicators census for Halal industry. My deepest gratitude to Dato’ Sri Dr. Mohd Uzir and his team for being presence today and applaud DOSM collaborating effort with HDC.
• Thank you to all distinguished panelists for your thought leader insights today. Your enthusiasm and commitment certainly augurs well for the future of Malaysia’s Halal Agenda and the Global Halal industry. I hope all presence and online viewers will benefit knowledge insights at today’s webinar series: Seizing Opportunities In Halal Industry For Pharmaceuticals And Food Services.