@ Halal | November-December . 2024

Uniting stakeholders to propel halal economic growth

“ WHBC 2024 is more than just a conference ; it is a strategic platform designed to strengthen investment promotion , facilitate negotiations , and enhance business-to-business engagement ,” said Halal Development Corporation ( HDC ) Chairman Khairul Azwan Harun .

The success of the conference can be attributed to the support of Malaysia External Trade Development Corporation ( MATRADE ), the Department of Islamic Development Malaysia ( JAKIM ), Malaysian Industrial Development Finance Berhad ( MIDF ), Bank Muamalat Malaysia Berhad , International Cultural Trade Collaboration Centre ( ICTCC ), Empire Sushi and its media partner , @ Halal .

This year ’ s conference theme , ‘ Building A Sustainable Future Through Halal Economy ,’ sought to promote dialogue and partnerships to spur innovation and drive growth within the halal economy .

Topics such as sustainable practices in the halal industry , global collaboration , and economic empowerment were explored in the Thought Leadership Session .

This session featured a panel of distinguished speakers who were experts in their respective fields . Among them were High Commissioner of South Africa David Evan Malcomson , Chief Executive Officer ( CEO ) of Standard Chartered Saadiq Malaysia Bilal Parvaiz and Fraser & Neave Holdings Berhad ( F & NHB ) Managing Director of Foods and Industry Engagement Dato ’ Raffiq Md Ariff .

HALAL ECONOMY

In his keynote address , Deputy Prime Minister and Minister of Rural and Regional Development Dato ’ Seri Dr Ahmad Zahid Hamidi , also addressed sustainability as it relates to the halal economy .

He remarked : “ The halal economy , by its very nature , embodies the principles of sustainability , reflecting Islamic values that align with modern ideals of ethical and responsible living .”

He noted that the concept of halal was often simplified to mean permissible and frequently mistakenly branded as exclusively for Muslims . In truth , halal is concerned with addressing broader needs related to fairness , which is rooted in Maqasid Syariah . Halal also includes the principle of Toyyiban , which denotes what is pure and beneficial .

In practice , this means halal is not just a certification for ingredients or products . It ’ s a commitment to ensuring that every part of the supply chain adheres to ethical practices .

He added , “ If a product involves forced labour or environmental harm at any point , it cannot be considered halal . It would not be halal if criminal activities taint any part of the process .”

While halal is fundamentally a religious requirement , it also serves as a comprehensive framework for ethical and sustainable living that transcends faith and offers universal benefits . That said , halal closely aligns with

Attendees at WHBC 2024 .

Khairul Azwan Harun delivers his welcome remarks .

the Sustainable Development Goals ( SDGs ) and Environmental , Social , and Governance ( ESG ) standards .

Plus , with sustainability becoming a central focus of the global economy , the halal market finds itself uniquely positioned to spearhead this transformation . In Malaysia , these values are embedded into the country ’ s halal economy . This broadens the scope of halal certification to include pharmaceuticals , medical devices , cosmetics , and logistics .

As part of Malaysia ’ s commitment to sustainability , there is a targeted focus on halal-certified and sustainable palm oil . The

A highlight from the Thought Leadership Session .

partnership between HDC and the Malaysian Palm Oil Certification Council ( MPOCC ) aims to promote eco-friendly palm oil practices , ensuring that halal products are produced ethically while adhering to sustainability standards .

A SHARED COMMITMENT

Furthering its international outreach , Malaysia recently hosted the Malaysia-China Halal Gateway Dialogue in China , which 30 companies attended . The event , which was jointly organised by HDC and the China Silk Road Group , marked a significant step in strengthening bilateral trade and investment in the halal sector .

By July 2024 , China had emerged as a significant market for Malaysian halal exports , valued at RM6.25 billion ( USD 1.4 billion ). However , officials reported that there are still numerous untapped opportunities , especially in areas like certification and market recognition . Strengthening collaborations in these areas could , therefore , lead to greater potential for both China and Malaysia .

At present , the halal industry is attracting considerable investments from both government and private entities , all aimed at bolstering food security and meeting sustainability goals . Their initiatives focus on developing infrastructure , streamlining supply chains , and driving innovation .

Furthermore , Malaysia has unveiled plans to establish new Halal Parks across the country , with the objective of creating investment opportunities . To support this initiative , the Ministry of Investment , Trade and Industry ( MITI ) is expected to announce additional incentives .

Recognising the importance of collaboration in this endeavour , Zahid said : “ The journey towards a sustainable halal economy is not one that any single nation can undertake alone . It requires global collaboration , partnerships , and a shared commitment to ethical and sustainable practices .”

Additionally , during the conference , Zahid launched the Halal Industry Core Sector Insights Report , a key component of Malaysia ’ s Halal Sectoral Roadmap .

The report , which provides analysis and insights to facilitate informed decision-making among industry players , was a significant contribution to the conference ’ s goal of promoting dialogue and partnerships while also aligning with the objectives of the Halal Industry Master Plan 2030 ( HIMP2030 ). –