MATRADE-HDC Merger: MITI Establishes Pro Tem Committee To Align Resources And Operational Frameworks 

KUALA LUMPUR, Oct 25 (Bernama) -- The Ministry of Investment, Trade and Industry (MITI) has formed a Pro Tem Committee to streamline resources and operational frameworks in support of the merger between the Malaysia External Trade Development Corporation (MATRADE) and the Halal Development Corporation (HDC).

The ministry also emphasises its commitment to managing any consolidation of functions and jobs fairly.

“Through streamlined operations, combined back-end services as well as consolidated development and trade promotion support for halal exporters – particularly small and medium enterprises (SMEs) – the merger is targeted towards enhancing Malaysia's leadership and competitiveness in the global halal market, which is projected to reach US$5 trillion by 2030,” it said.

MITI said in a statement today that it has begun looking into implementing the move following the announcement by Prime Minister Datuk Seri Anwar Ibrahim during the tabling of Budget 2025, to form a stronger, more cohesive halal trade and industry ecosystem.

The merger will see MATRADE’s export capabilities complemented by HDC’s industry-specific knowledge while expanding the market access for Malaysia’s halal products and services through MATRADE’s strategic network of 49 trade offices globally.

“A stronger halal industry and export sector will also support local SMEs, creating more job opportunities for the locals.

“As this merger is anchored in complementing the strengths of two entities, all existing employees will remain, while the HDC brand equity will be retained and enhanced,” it noted.

MITI added that the consolidation is also crucial to prepare Malaysia for a more strategic halal proposition as the country prepares to fully leverage Malaysia’s chairmanship of ASEAN in 2025 to attract the right investments and expand Malaysia’s exports in Asia, as well as in key ASEAN partner countries.

As outlined by the New Industrial Master Plan 2030 (NIMP 2030) and the Halal Industrial Master Plan 2030 (HIMP 2030), such objectives will be achieved through the adoption of innovative technologies, product quality upgrades and compliance with international standards by Malaysia’s halal industry.

These targeted industrial reforms will also ensure the halal sector’s resilience and competitiveness, by strengthening Malaysia’s hand in trade agreement negotiations and expanding market access for our halal exporters.

“MITI, MATRADE and HDC will continue the whole-of-government and systematic development approach in strengthening the Malaysian halal industry, by engaging other key stakeholders, notably Jabatan Kemajuan Islam Malaysia (JAKIM), which is responsible for the certification of halal Malaysian products and services.

“Moving forward, MITI remains confident that the merger of MATRADE and HDC will create a stronger and more resilient halal trade and industry ecosystem that promises enhanced support for businesses, greater international recognition of Malaysia’s halal leadership, and a more competitive national economy,” it said.

-- BERNAMA