November-December . 2021 | @ Halal

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It also discussed how to build new capabilities to create new engines of growth within the industry . WHBC 2021 highlighted the various initiatives and contributions of the halal industry in expediting global economic recovery .

Malaysia has been at the forefront of the growth of the halal industry in both economic activities and social awareness . With a comprehensive halal ecosystem in place , Malaysia has become the reference for best practices in developing halal standards and business processes through nurturing growth and participation of local businesses in the global halal market .

This is evident with several collaboration announcements between the Halal Industry Development Corporation ( HDC ) and international organisations in conjunction with the WHBC 2021 .

The collaborations aimed to internationalise Small and Medium Enterprises ( SMEs ) in the halal industry through cooperation with large Malaysian companies and multinationals . HDC was represented by its Chief Executive Officer , Hairol Ariffein Sahari .

The first collaboration was with Malaysia Airlines Berhad ( MAB ), which allowed MAB to promote HDC to become the “ One Stop Centre for Halal Business ” to the potential markets .

Malaysia Airlines offer a special rate for HDC ’ s Halal Integrated Platform ( HIP ) members when travelling on Malaysia Airlines via its corporate travel programme , MHbiz Travel .

Meanwhile , MAB is pleased to be the preferred airline for the International and Domestic initiatives towards promoting Halal Malaysia and received Reskilling and Upskilling Programme of MAB staff in the halal industry by HDC .

HDC also collaborated with the Taiwan External Trade Development Council ( TAITRA ) via the Memorandum of Understanding ( MOU ) to promote the business relationship and contribute to halal industry development .

Among the activities were knowledge sharing in the aspects of halal , including market intelligence , reports and halal trade matters ; collaboration to promote halal products or services according to branding exercise and reasonable initiatives ; talent development and education of halal between Taiwan and Malaysia ; bilateral investments and consultative efforts in promoting Halal Parks and sharing of technical knowledge on halal and Muslim-friendly frameworks between the two countries concerning consultancy and advisory .

During the WHBC 2021 , HDC also announced its collaboration with the African Institute of Islamic Finance ( AIIF ). HDC has signed an MOU with AIIF earlier , focusing on Consultation and Advisory Services to support the Halal Ecosystem in the Economic Community of West African States ( ECOWAS ) region , and capitalising on Senegal as the hub for this catalyst of change .

AIIF , with the strong support of Senegal , has the strength and capability to lead the halal agenda in Senegal and the ECOWAS region .

The conference also witnessed the collaboration between HDC and Heskell Malaysia . With Haskell ’ s experience in Engineering , Construction and Project Management for the relevant sectors within the halal industry , combined with HDC ’ s proficiency in halal requirements and platforms to boost the halal market ( Halal Integrated Platform and Halal Manufacturing Parks ), the collaboration aimed to transform the halal ecosystem in Malaysia by providing a seamless integration of design and construction with conformance to halal compliance set by the local authority .

With the availability of resources for halal investors via HDC ’ s platform , it is hoped more businesses would dive into the production of halal commodities , thus pushing the industry towards significant growth .

Halal industry growth trends are now a key economic driver for many countries , with the global halal industry market size projected to be US $ 5.0 trillion by 2030 . If the non-Muslims move into the halal market , the overall potential market size is projected to be over US $ 38.1 trillion a year .

From a regional perspective , Asia-Pacific , having two-thirds of the world ’ s Muslim population , commands the majority of halal-related economic activities . It is also the most significant contributor to the halal economy globally .

The halal industry potential market value for the Asia-Pacific region is estimated at US $ 2.8 trillion by 2030 .

THE NUMBER of halal industry experts needs to increase to meet growing global demands

The World Halal Business Conference ( WHBC ) 2021 , which ended on Sept 15 , reached a voice to narrow down and focus on six significant resolutions in facilitating and discussing the industry ’ s needs to re-evaluate its existing strengths .

WHBC 2021 opened up a larger new market through the main branch of resolution that can provide spaces for halal products and services to increase worldwide demand .

The resolution was presented by Hairol Ariffein , the Chief Executive Officer of Halal Development Corporation Berhad ( HDC ), while winding up the conference , which received more than two million viewers , tuned in from over 61 countries around the world .

Hairol said the second point from the resolution had become one of the priorities in this conference . It regards the halal industryfriendly policies and legislations that need to be enhanced to link the halal ecosystems worldwide .

“ During the session , many ideas were shared and resolutions were also reached . However , we still need to focus on a few things more ,” said Hairol .

“ The third point in the resolution is the importance of developing or improving quality integrated infrastructure for the halal industry by incorporating environmental , social and governance criteria to ensure the sustainability of the global halal ecosystem , to be aligned with the United Nations ’ Sustainable Development Goals ( UN-SDGs ).

“ Importantly , the number of halal industry experts need to be developed to meet the growing global demands for the halal industry .

“ Leadership thinking and creative values must be promoted to create global outreach and the expansion of the halal diaspora .”

WHBC 2021 was officiated by Dato ’ Seri Mohamed Azmin Ali , Senior Minister and Minister of International Trade and Industry ( MITI ), who delivered a keynote address at WHBC on behalf of Dato ’ Sri Ismail Sabri Yaacob , the Prime Minister .

Hairol pointed out the focus of the conference ’ s final resolution was to produce more champions in the halal industry .

It aimed to stimulate the local economy , especially small and medium enterprises ( SMEs ) and increase the export and trade in Halal products and services .

With the theme of “ Halal - The Catalyst for Universal Economic Recovery ”, the conference involved key halal industry players , stakeholders , and key players in reviving the world economy from the effects of the Covid-19 pandemic .

As the event organiser , HDC ’ s vision was to target the halal industry as the first choice in the venture .

In this regard , HDC played a role as the country ’ s leading government agency to further develop and accelerate the growth of the halal industry and the economy to benefit the country and Muslims from all around the world .

Hairol emphasised that HDC would strive to progress the global halal industry towards sustainability and recovery from these resolutions . There ’ s a need to overcome the challenges of the Covid-19 pandemic by championing Malaysia as a focal point in halal thought leadership , industry nurturing and value creation . It is to preserve the underlying objectives of halal and the shariah principles , exemplified through social solidarity .