Himp 2030 Propels Malaysia Towards Global Halal Leadership - Hdc 

From Karina Imran

RIYADH, April 30 (Bernama) -- Malaysia’s halal industry players are anticipated to become more self-sufficient, sustainable and able to deliver higher value-added halal products and services to cater to global demand and contribute to the halal economy’s supply chain. 

This is supported by the Halal Industry Master Plan 2030 (HIMP 2030) which was launched by Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, who is also the chairman of the Malaysian Halal Development Council.

Speaking at the Thought Leaders Session during the Halal Economy Leadership Forum (HELF) 2024, Halal Development Corporation Bhd (HDC) chief executive officer (CEO) Hairol Ariffein Sahari said HIMP 2030 embodies the vision of a prominent, visible, and globalised Halal Malaysia and is driven by seven strategic thrusts and 23 initiatives.

“Aside from addressing gaps within the domestic halal economy, the HIMP 2030 is a roadmap and critical connecting point for Malaysia’s halal ecosystem to link with the halal ecosystems of other countries, including Organisation of Islamic Cooperation (OIC) member countries,” he said. 

HIMP 2030, themed “Prominent, Visible and Globalised Halal Malaysia”, is driven by seven strategic thrusts, namely, enhancing halal-friendly policies and legislation; creating new and bigger market spaces for Malaysia’s halal products and services; establishing a larger pool of halal experts and professionals to meet global needs; and enhancing the quality and integrated infrastructure development.

It also consists of fostering thought leadership; producing more home-grown halal champions; as well as facilitating more competitive bumiputera participation in the halal industry.

Hairol Ariffein also noted the global Muslim population stands at an estimated 1.9 billion and the global halal market size is projected to be US$5.0 trillion by 2030. 

Therefore, he said Malaysia could be a gateway for the halal market penetration of OIC member countries given that the country has been at the forefront of the halal ecosystem for over five decades.

Hairol Ariffein said among key promoted sectors in linking the halal ecosystems are halal manufacturing and services for food and non-food products, logistics and ingredients; Muslim-friendly services in tourism, medical tourism and retail; mutual recognition in halal best practices, and halal business network linkages. 

“Internationalisation of the halal agenda is vital to expand the global halal landscape significantly and to establish, ease integration and strengthen businesses and lateral ties between the halal ecosystems of countries. 

“Malaysia has always looked to the OIC member countries for support and encouragement in the exchange of knowledge, experience and information,” he said. 

Hence, the tripartite engagement as strategic partners between HDC-the Islamic Development Bank (IsDB) and Saudi Arabia’s Halal Product Development Company (HPDC) could help support one another for the socio-economic betterment and advancement of OIC countries, he said. 

HDC, an agency under the Ministry of Investment, Trade and Industry (MITI), offers services such as business advisory, training programmes for industrial, sectoral, enterprise and professional development and the IsDB fulfills its role as a multilateral development bank (MDB) to provide countries with secure financing for mega-scaled developmental and commercial projects in halal essential core sectors. 

Meanwhile HPDC, with its expertise in fund management and managing investment portfolios would be able to support the fund-raising and enterprise activities of Muslim countries, through inward and outward foreign direct investments (FDIs).

“It is hoped that this strategic partnership will continue to progress, persevere and evolve in different ways to benefit the OIC member countries, and enable them to explore as well as leverage on opportunities abundant within the global halal market space,” said Hairol Ariffein. 

The HELF 2024 is jointly hosted by HDC, IsDB, and HPDC, in conjunction with the IsDB's Private Sector Forum (PSF) 2024 in Riyadh from April 28-30. 

The panel session also features the IsDB director and resident representative of the regional hub Indonesia Datuk Amer Bukvich, HPDC’s CEO Fahad S. AlNuhait and Durham University Business School’s professor of Middle Eastern and Islamic Political Economy and Finance Mehmet Asutay. 

-- BERNAMA