HPDC signed a joint agreement with HDC on the sidelines of Halal Expo to exchange knowledge and raise awareness about the Halal industry’s development
LONDON, 4 December 2023: Halal Products Development Company (HPDC), a wholly owned Public Investment Fund (PIF) company, has concluded its participation in Halal Expo London 2023, one of the global Halal events in the United Kingdom. During the exhibition, HPDC signed a strategic partnership with Halal Development Corporation Berhad (HDC) to amplify the growth of the Halal industry within Saudi Arabia and globally.
According to the terms of the agreement, the two companies will exchange information on industry-leading practices and successful models of Halal ecosystems. In addition to fostering commercial relationships between stakeholders in a variety of Halal sectors, the agreement will broaden the scope of collaboration by facilitating engagement with Halal exporters and investors.
Fahad S. AlNuhait, CEO of Halal Products Development Company, affirmed the importance of the alliance, commenting: “Through our partnerships and strategic agreements, we at HPDC strive to connect vendors, distributors, and businesses operating in the Halal industry across the world.”
“We are excited to enter into this landmark agreement which allows us to leverage shared resources to make a significant contribution to the expansion of the industry. With this agreement, our aim is to establish a dynamic ecosystem in Saudi Arabia that enhances the local economy, invites international investors, and increases Halal trade worldwide.”
In alignment with the sentiment, Hairol Ariffein Sahari, CEO of Halal Development Corporation Berhad, said, “This collaboration transcends mere business alignment; it embodies a shared vision to propel the Halal industry to new heights globally.
With HDC’s vast experience in building a comprehensive halal ecosystem, we will provide specialized advisory, investment strategies, innovation collaboration, technology transfer and Industry Thought Leader sharing. We believe HDC can provide a proven effective operational model, along with a sustainable Halal ecosystem not only brings substantial benefits to Saudi Arabia but also extends its positive impact to a global scale and beyond.”
Both organizations will continue to collaborate with key stakeholders within the global halal industry, and jointly work towards shaping the halal ecosystem, ensuring transparency and efficiency all the way.
Through capital investment and advisory services, HPDC strives to localize the Halal production industry in in Saudi Arabia, strengthen the sector’s capabilities globally and promote the holistic benefits of the 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.
Held at Tottenham Stadium from December 1st-3rd, the Halal Expo London brought together stakeholders within the Halal industry under one roof representing a variety of sectors. The event provided a lively platform for businesses, individuals, and organizations to showcase their products, engage in meaningful discussions, network, and connect to explore the next frontiers of the global Halal industry.
About Halal Products Development Company (HPDC)
Halal Products Development Company (HPDC), a wholly owned subsidiary of the Public Investment Fund (PIF), was established in 2022 with the aim to invest in localizing the Halal production industry in Saudi Arabia through partnerships with reputable local and international players. The company will focus on segments within the Halal industry including foods, cosmetics, and pharmaceuticals to develop the market in Saudi Arabia and increase the efficiency and competitiveness of the ecosystem globally, while supporting the development of knowledge and innovation in this key industry. The company will further expand its capabilities by introducing various advanced services within the Halal space to support local businesses and small and medium-sized enterprises in Saudi Arabia.