RIYADH: Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, said Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz.
He said it is an imperative move for the country as the industry is navigating the complexities of a rapidly changing global landscape.
“In line with the objective of the Halal Economy Leadership Forum 2024 (HELF 2024), the Ministry of Investment, Trade and Industry (MITI) remains committed to supporting initiatives that promote trade facilitation, industry development, and market access for halal products and services.
“We are dedicated to fostering closer collaboration with our partners in Saudi Arabia and other key stakeholders to capitalise on the vast potential of the halal economy and create a more inclusive, equitable, and prosperous future for all,” Tengku Zafrul said in his speech which was read on his behalf by Malaysia’s ambassador to Saudi Arabia Datuk Wan Zaidi Wan Abdullah, here today.
HELF 2024 is jointly hosted by the Halal Development Corporation, the Islamic Development Bank (IsDB), and Saudi Arabia’s Halal Products Development Company (HPDC), in conjunction with IsDB’s Private Sector Forum, which ran from April 28-30, here.
Additionally, the global momentum surrounding the halal economy offers a compelling narrative for Malaysia, leveraging its prominent position in the global halal market, he said.
“As a leader in both Islamic finance and the broader Islamic economy, Malaysia stands at the forefront of this burgeoning industry.
“The growth of the halal sector is driven not only by the global Muslim population but also by factors such as added value, hygiene and authenticity which have positioned Malaysian halal products highly and made them the preferred choice for non-Muslim consumers,” the minister said.
Moreover, the concept of the MADANI economy encapsulates the national vision for development, emphasising the enhancement of trade and the cultivation of innovative and competitive halal industries, he concluded.