Makkah, KSA – Halal Products Development Company (HPDC), a wholly-owned company by the Public Investment Fund (PIF), has concluded its participation as a main sponsor in the Makkah Halal Forum 2024, which took place from 23 to 25 January. HPDC played a significant role in delivering a collaborative experience that presented best practices and innovatative business models in the Halal industry.
On the sidelines of the opening ceremony of the Forum, Mr. Fahad S. AlNuhait, CEO of Halal Products Development Company, signed a partnership agreement with Mr. Abdullah Alhowaish, Managing Director, Sinad Holding Agreement and the board of directors. He also signed a partnership agreement with Mr. Yousef Khalawi, Secretary General of the Islamic Chamber of Commerce and Development to drive growth across local and global Halal ecosystems.
The agreement with Sinad Holdings and its subsidiaries will leverage HPDC strategic advisory expertise to expand market reach, fostering tailored insights to regulations, and cross-industry experience to advance both local and regional Halal ecosystems, with targeted efforts to fill the gaps in supply chains and value-added chains.
The Islamic Chamber of Commerce and Development agreement aims to strengthen the global halal industry ecosystem, facilitate the export of Saudi companies’ halal products worldwide, exchange knowledge and information, and promote innovations. This agreement will increase growth and awareness in the halal industry, and will provide opportunities for HPDC’s partners to expand and enhance operations through specialised investment.
Commenting on the success of the Forum, Mr. Fahad S. AlNuhait, said:
“Our participation in the Makkah Halal Forum reflects our commitment to being at the forefront of pioneering opportunities in the industry, so that Halal ecosystems around the world can benefit from the insights and expertise shared at events of this scale. The agreements signed, while strategically significant, transcend mere business alignment and will establish the foundations for long-term collaboration between cross-industry partners in the industry.”
Mr. AlNuhait added:
“We look forward to entering into these landmark agreements, which will allow us to share our knowledge and significantly contribute to the ongoing success of the industry, raising awareness on the quality, variety, and accessibility of Halal products both in Saudi Arabia and beyond.”
Through capital investment and advisory services, HPDC strives to localize the Halal production industry in Saudi Arabia, strengthen the sector’s capabilities globally, and promote the holistic benefits of a Halal lifestyle. HPDC aims to position Saudi Arabia as the global Halal hub and facilitate economic diversification in line with the objectives of Saudi Vision 2030.