THE 11TH WORLD HALAL CONFERENCE 2019 PRESENTS STRATEGIC
DIRECTION FOR THE HALAL ECONOMY
Kuala Lumpur– The 11th World
Halal Conference (WHC) 2019 commenced today, facilitating discussions on the
ever-growing need for the industry to reflect on its existing strengths; and to
build new capabilities to create new engines of growth within the industry. WHC
2019 will highlight the various growth opportunities in the halal market and
the need to continuously reinvent; re-energise; and re-anchor the industry.
The State of the Global
Islamic Economy Report 2018/19 estimates that Muslims spent US$2.1 trillion
across the food, beverage and lifestyle sectors in 2017, and forecasts spending
to reach US$3 trillion by 2023. By category, food and beverage leads Muslim
spend at US$1.3 trillion, followed by fashion at US$270 billion, media and
recreation at US$209 billion, travel at US$177 billion, pharmaceuticals at
US$87 billion and cosmetics at US$61 billion.
The halal economy has proven
its ability to keep pace with the latest developments in technology and
investment. Companies are adopting blockchain for payments to ensure halal
compliance, and track food, cosmetics and pharmaceutical products from the
manufacturing facility to the retailer. Meanwhile, artificial intelligence
(AI), virtual reality (VR) and the internet of things (IoT) are today
attracting more investments than ever before.
With Muslim spend on food and beverages forecast to reach US$1.9
trillion by 2023 and regulatory oversight of halal food production steadily
improving, there are significant opportunities for investment and the
establishment of global halal food brands. More companies are active in halal
food than in any other sector of the Islamic economy. The product offering is
expanding proportionately with the rising number of halal-certified
ingredients, and companies are diversifying their portfolios to cater to
increasingly sophisticated tastes.
This is evident with the Exchange of Memorandum of Agreement (MoA)
between the Halal Industry Development Corporation (HDC) and F&N Beverages
Manufacturing SdnBhd for the Halal Sourcing Partnership Program during WHC
2019. The program aims to internationalise Small and Medium Enterprises (SMEs)
in the halal industry through collaboration with large Malaysian companies as
well as multinationals. HDC was represented by its Industry Development Vice
President, Hanisofian Alias and F&N Beverages Manufacturing was represented
by its Head of Halal Affair, Mr AkhtarHusseini Mohd Nor.
Dr. Khalid Abdul Hamid, Director of Service Industry Section, Ministry
of Economic Affairs who witnessed the
MoAExchangeemphasised, “We hope such initiative will increase the involvement
of local companies as suppliers to multinational corporations (MNC) and large
local companies (LLC) and thus creating bigger market space for them. I
strongly urge more MNCs and LLC to come on board and be part of this
initiative.”
Halal industry has contributed significantly
to the economic growth since 1974. The industry is contributing to 7.5% of GDP
in 2017 and expected to achieve 8.7% in 2020. Export amounted slightly over
RM40 billion from the expectation of RM50 billion in 2020. Malaysia halal
export is mainly contributed by food and beverages, halal ingredients and palm
oil derivatives.
“The Government of Malaysia
under the premiership of the Honourable Prime Minister, TunDr. Mahathir Mohamad
during Invest Malaysia Conference 2019 recently, has outlined macro strategies
in order to strengthen the resilient of the Malaysia economy. These strategies
can only be realised, among others, through driving productivity and promoting
quality investment. In this regards, the World Halal Conference 2019 is offering
opportunities in investment through cooperation and further collaboration in
halal economy.” said Hanisofian Alias from HDC.
Dr. Khalid also presentedthe Halal Excellence Awardsto honour and recognize
organisations that have demonstrated exceptional contributions and achievements
for the development of the overall Halal industry and to showcase real
inspiring role models for other businesses to follow.
Duopharma Biotech Berhadwas
awarded the Halal Brand Excellence Award (HBA) in honour of their high-profile
brand and trademark built throughout the halal industry, creative excellence
and consistency in promoting international acceptance and recognition while
upholding halal integrity along the way.
The coveted Halal Science
Research Award (HSRA) was presented to UKM UNIPEQ in acknowledgement for their
efforts and commitment in innovative halal research and development; and the
revolutionary ideas in uplifting halal through science and technology.
Kumpulan Ramly was awarded
Halal Excellence for Malaysian Company to celebrate fast growth halal champion
in the acknowledgement of innovative business processes, product development,
enterprise, sustainability, leadership, and overall business success in
penetrating halal market globally.
HDC Halal Performance State
Excellence Award was granted to the State of Selangor for its outstanding
initiatives which have helped achieving higher levels of consumers’ awareness
and encouraged organisations and companies venturing into halal industry.
Meanwhile, McDonald’s
Malaysia received the HDC Halal CSR Excellence Award in acknowledgement for its
excellence of service, halal commitment to its customers, upholding ethical
behaviour and environmental sustainability.
The Halal Excellence Awards’
goals are to accelerate innovation, excellence and a positive change in the
global halal economy particularly to the Malaysian champions by recognizing
best-in-class products, companies and individuals.
For
Media enquiries:
Norsida Ahmad IntanEidayu Zainal
PR & Media ARK HALAL
Strategic Communication Tel : +012
2948106
***
ABOUT
HALAL INDUSTRY DEVELOPMENT CORPORATION (HDC)
The
Halal Industry Development Corporation (HDC) was established on 18 September
2006 with the express objective of coordinating the overall development of the
Halal industry in Malaysia for both the domestic and international markets. HDC
is an agency under the Ministry of Economic Affairs, Malaysia.
HDC
is Malaysia's holistic response to the worldwide demand for better quality
products and services as consumers gain confidence in the Halal process. Its
key thrusts are to grow and advance the development of Halal standards;
facilitate capacity- building for Halal products and services; and promote
growth and participation of Malaysian companies in the multi-trillion dollar
global Halal market and industry. Today, there is an estimated population of
1.8 billion Muslims worldwide. The global Halal market is currently estimated
at USD2.3 trillion covering both food and non-food sectors.
In
its effort to serve as an international hub for the Halal industry, HDC
provides manufacturers, distributors, retailers, entrepreneurs, researchers and
investors with comprehensive assistance to penetrate and serve a growing global
Halal market through the adoption of the Malaysian experience and expertise in
food and non-food sectors. For more information, please visit HDC at www.hdcglobal.com.
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