07
July-August . 2024 | @ Halal
Local News
07
Transforming Tanjung Manis
SARAWAK is expecting new investment opportunities through Tanjung Manis Halal Hub . The Sarawak Deputy Premier , Datuk Amar Awang Tengah Ali Hasan , highlighted this during the Future of Food and Agricultural International Conference 2024 in Kuala Lumpur .
Awang Tengah also serves as the Second Minister for Natural Resources and Urban Development and the Minister for International Trade , Industry , and Investment ( MITI ). He emphasised Tanjung Manis Halal Hub ’ s significant role in the state ’ s economic development strategy .
By 2030 , the halal market alone is estimated to reach US $ 4.5 trillion . Its potential offers promising economic benefits and strengthens Sarawak ’ s leadership role .
The hub , which covers over 70,000 hectares , is designed to support the food production supply chain .
Tanjung Manis Halal Hub is pivotal to the State ’ s initiative to reduce import dependency .
“ We aspire to achieve self-sufficiency in food production and subsequently become a net food exporter ,” said Awang Tengah .
Food imports constituted 6.5 per cent of Malaysia ’ s total imports in 2023 , which amounted to RM78.8 billion . Notably , food
China has shown interest in partnering with Malaysia in the halal industry , focusing on several key areas : halal certification , services , and halal products . Deputy Foreign Minister Datuk Mohamad Alamin highlighted this interest .
China ’ s Premier , Li Qiang , directly expressed his interest in the halal industry during a meeting with Deputy Prime Minister Dato Seri Dr Ahmad Zahid Hamidi . This significant exchange led to further discussions on potential collaborations in the halal industry , underscoring the importance of their meeting .
Zahid informed Li about the global halal industry ’ s significant value and growth trajectory . He emphasised that the industry was valued at US $ 3.1 trillion in 2018 and is growing at a rate of 4.1 per cent annually . By 2030 , the industry is projected to reach US $ 5 trillion .
Additionally , Zahid also looked into other ways Malaysia and China could imports for Sarawak alone reached RM6.8 billion last year , accounting for 10.9 per cent of the state ’ s total imports .
Additionally , Sarawak is undergoing an agricultural transformation under its Post- COVID-19 Development Strategy ( PCDS ) 2030 . It focuses on integrating modern agricultural technologies such as smart farming , mechanisation , and digital applications .
These measures aim to improve food production efficiency for the export market . As a result , the state is better positioned to enter the international halal market .
Awang Tengah called on the business sector to provide financial support and technical advice to promote the adoption of sustainable farming methods . The Sarawak government shows support by providing training , technical assistance , and financial aid .
He also urged more small and mediumsized enterprises ( SMEs ) and youths to pursue agriculture . He encouraged them to recognise it as a profitable sector .
The Tanjung Manis Halal Hub will help Sarawak achieve economic resilience and lead the global halal market . Leveraging the burgeoning halal market through international trade and agricultural innovation is set to boost the region ’ s economic growth and sustainability .
China aims halal partnership
collaborate . He wanted to promote collaboration in technical and vocational education training ( TVET ), networking , and social and cultural ties between Malaysia and China .
Li and Zahid also discussed regional and international issues of mutual interest . These shared interests encompass various areas , such as the digital economy , high technology , renewable energy , and semiconductors .
Malaysia is also in talks with China regarding the disputed areas in the South China Sea . Mohamad reassured : “ We will not compromise on sovereignty and will use existing mechanisms to continue negotiations , including on the Code of Conduct ( COC ).”
Zahid ’ s official visit to China strengthened bilateral ties between the two nations amidst the shifting regional dynamics . This reaffirms Malaysia ’ s position in advancing halal initiatives with China .
Awang Tengah Ali Hasan
Deputy Foreign Minister Mohamad Alamin ( left ) and China ’ s Premier Li Qiang ( right ).
Supporting microentrepreneurs
IN A move towards inclusive economic development , Bank Islam Malaysia Berhad ( BIMB ) and Waqaf An-Nur Corporation ( WANCORP ) signed a partnership agreement . The partnership will support a larger number of micro-entrepreneurs in Malaysia .
WANCORP has channelled RM120,000 in corporate waqf benefits . These funds have been allocated to Sadaqa House , Bank Islam ’ s social finance division . The funding will be used as a revolving fund to offer the iTEKAD Microfinancing Programmes : iTEKAD BangKIT and iTEKAD Maju .
Each programme aims to empower the asnaf and B40 entrepreneurial communities . The programme will help micro-entrepreneurs generate sustainable income and stay afloat during challenging times .
In a ceremony held in Johor Bahru , WANCORP ’ s Chief Operating Officer Tuan Haji Bahrin Bakri , formally handed over the donation to Bank Islam ’ s Group Chief Executive Officer ( CEO ) Dato Mohamad Muazzam Mohamed .
WANCORP ’ s contribution can help micro-entrepreneurs expand their businesses . This funding enables more micro-entrepreneurs , especially those in underserved communities , to access banking services .
“ The revolving fund model will enable support for more microentrepreneurs compared to providing business grants . Entrepreneurs that have been identified can receive iTEKAD BangKIT micro-financing of up to RM20,000 at 0 per cent interest ,” said Muazzam .
To date , over 1,200 small entrepreneurs have benefitted from more than RM25 million disbursed since the programmes were introduced in 2020 .
Furthermore , the fund will cover the entrepreneurs ’ working capital and business expenses . Besides this , the fund will be utilised to provide training programmes in financial management and business practices .
Overall , the fund ensures that entrepreneurs receive monetary support and gain the necessary expertise to grow their businesses .
BIMB and WANCORP share the goal of helping underprivileged communities through Islamic social financial instruments .
“ We are grateful to Waqaf An-Nur and all contributors for this collaboration . We hope this joint venture will continue to grow , fostering prosperity for society in the future ,” expressed Muazzam .