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January-February . 2024 | @ Halal
Foreign Local News
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The logo of Brazilian meatpacker JBS SA is seen in the city of Jundiai , Brazil
Seeking more investments
From left : Datuk Amer Bukvic ( Director General Global Practices and Partnerships , Islamic Development Bank Saudi Arabia ), Dato Zakri Jaafar ( High Commissioner of Malaysia to the United Kingdom ), Dato Seri Dr Ahmad Zahid Hamidi ( Deputy Prime Minister of Malaysia ), Khairul Azwan Harun ( Chairman , HDC Malaysia ), Dr Abdul Matin Khan ( Chairman , Halal Food Authority , London ), Hairol Ariffein Sahari ( CEO of HDC Malaysia ).
With open arms
London graciously welcomes the 15th World Halal Business Conference Circuit 2023 , serving as the vanguard for Halal Industry Advancements for a Borderless World
THE 15th edition of the World Halal Business Conference Circuit ( WHBC ) 2023 was recently held in London , United Kingdom . The Ministry of Investment , Trade and Industry , Malaysia ( MITI ) hosted the conference . It was organised by Halal Development Corporation Berhad ( HDC ) Malaysia .
The conference served as a global platform for halal thought leadership and knowledge sharing within the halal economy .
Following the theme of “ Halal Opportunities in a Borderless World , the conference also aims to explore industry trends , challenges , and emerging opportunities globally , bringing together major industry sectors , leaders and experts to connect , collaborate and grow .
Malaysian Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi emphasised Malaysia ’ s in steering the growth of the halal industry , embracing the concept of “ Halal Diplomacy .”
“ Through Halal Diplomacy , our primary goal is to strengthen our international relationships , fostering stronger ties between countries . Additionally , we are committed to facilitating our allies ’ access to the halal market , ensuring they can participate in the growth of the halal economy alongside us ,” he said .
As the vanguard for the halal market , WHBC Circuit 2023 aims to ensure sustainability and growth , fostering innovative solutions and building a global community committed to a prosperous and inclusive future within the halal industry .
J & F , the parent company of food processor JBS SA , had recently expressed their desire to seek new investments in Saudi Arabia to boost business ties .
“ Every day , we become more interested in exploring the possibility of making much more relevant investments than we had been thinking about in the past ,” said JBS ’ founding family member , Wesley Batista .
J & F , which specialises in the food , mining , pulp , paper and energy sectors , stated that JBS has a plant in Damman and another unit under construction in Jeddah . When the Jeddah facility is up and running , JBS will boost capacity in Saudi Arabia to 40,000 metric tonnes of processed chicken products per year , four times the current levels .
J & F added that Saudi Arabia is the largest economy in the Middle East and Brazil ’ s main trading partner in the region , with bilateral transactions worth more than US $ 8 billion in 2022 .
Brazil is also the world ’ s top exporter of halal meats produced according to Muslim dietary requirements and is also home to some of the most efficient meat exporters globally .
“ The food sector is our main area of cooperation ,” said Saudi Arabia ’ s Minister of Investment , Khalid Al-Falih .
He added that Saudi Arabia aims to achieve “ food security ” and become a “ global hub ” for the meat sector .
Securing strategic investment
Paving the road for sustainability
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SAUDI Logistics Services ( SAL ) had recently inked a contract to lay the groundwork of a logistics park at Jeddah Islamic Port , totalling an area of 54,000 square metres . It would enhance their sea and air connectivity , contributing to improving logistics services provided to raise the kingdom ’ s ranking in international indicators .
The inking was held at Jeddah Islamic Port by the President of the Saudi Ports Authority , Omar Talal Hariri , and the Managing Director and CEO of SAL , Faisal Saad Albedah .
This agreement between the two parties aligned with SAL ’ s vision of spearheading Saudi Arabia ’ s global connectivity and strategy to expand its offerings across the logistics sector .
The agreement also came as part of Saudi Ports Authority ’ Mawani ’ efforts to achieve its strategic objectives by providing investment opportunities for the private sector and developing sustainable capacities that suit partners ’ needs .
It will also raise the level of local and regional transport , distribution of storage operations and increase the number
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From left : Managing Director & CEO of SAL Saudi Logistics Services Company , Faisal Saad Albedah , and President of the Saudi Ports Authority , Omar Talal Hariri .
of logistics service centres for re-export to 30 centres by 2030 , in line with the targets of the Saudi National Strategy for Transport and Logistics Services , reinforcing Saudi Arabia as a global logistics centre , and a hub for connecting three continents .
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THE Central Bank of the UAE ( CBUAE ) recently hosted a series of meetings and discussions , bringing together key Islamic finance infrastructure organisations to launch the Roadmap for Islamic Sustainable Finance .
The roadmap ’ s framework focuses on the essential methods to advance sustainability in Islamic finance , including prudential standards , disclosure guidelines , market development initiatives , and capacity-building programmes . It sets targeted timelines for the initiatives to be implemented .
“ This declaration issued by the Islamic Finance Infrastructure Organisations tends to foster Islamic sustainable finance globally , as it sets a clear roadmap and objectives to support the Islamic finance industry in integrating further sustainability considerations in their businesses and activities ,” said CBUAE Governor Khaled Mohamed Balama .
“ The CBUAE is pleased to have supported the success of these discussions as part of its commitment to promoting sustainability and keeping
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with the UAE ’ s vision of becoming an Islamic finance hub .”
Minister of Industry and Advanced Technology and COP 28 President Dr Sultan Al Jaber said the launch of the roadmap for Islamic sustainable finance strongly demonstrates the UAE ’ s commitment to lead by example and deliver holistic and actionable solutions to the climate crisis .
“ We simply cannot meet our climate ambitions and keep 1.5C within reach without the active participation of all sectors , including Islamic finance ,” he added . –
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