Pakistan: SBI signs MoU with Malaysia’s Halal Industry Development Corp.

‘Pakistan Times’ Business & Commerce Desk

KARACHI: Sindh Board of Investment (SBI) achieved a historic milestone in its progress towards development of Halal sector in Pakistan by signing a Memorandum of Understanding with Halal Industry Development Corporation (HDC) which is the premier agency for development of Halal Industry in Malaysia.

According to SBI here on Thursday, the MOU was signed in HDC’s Kuala Lumpur office between Mohammad Younus Dagha, Secretary Investment Department and Director General Sindh Board of Investment (SBI) and Jamil Bidin, the Chairman and CEO of HDC in the presence of  Advisor to CM Sindh on Investment Zubair Motiwala and the High Commissioner of Pakistan for Malaysia Masood Khalid and the officials of HDC.

Malaysia is one of the key players in global Halal sector, the others being Australia, Brazil, Thailand, India, etc. with China, France and Japan having plans to enter soon.

Speaking on the occasion Jamil Bidin, CEO of HDC stated that the great potential of global Halal market provides various opportunities for collaboration between the two brotherly countries and the initiative taken by the SBI will pave way for development of this industry in Pakistan.

He said, HDC will provide all assistance for development of regulatory framework, establishment of Halal Parks (designated industrial areas) and training of entrepreneurs, auditors and functionaries in pursuance of the MOU signed. He also pointed out the potential of business to business joint ventures for Halal industry in both the countries.

Motiwala, in his address said that SBI was keen to work out the detailed implementation plan to ensure that the MOU meets aspirations of both the parties to play their due roles in development of Halal industry.

A working group comprising of was also formed to work out modalities and work plan for the implementation of MoU.