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Last Updated: Jun 25th, 2007 - 17:07:26 |
The Halal Industry Development Corporation (HDC) will embark on a three-pronged strategy over the next three to five years to establish Malaysia as a hub for the global Halal market, which is estimated to be worth US$580.91 billion.
Its chief executive officer, Datuk Jamil Bidin, said HDC would develop a national masterplan for the country’s Halal industry by year-end and would roll out its strategy soon after.
HDC was set up by the Prime Minister’s office in September last year and was allocated an initial budget of RM25 million. The HDC will host the two-day World Halal Forum 2007 in Kuala Lumpur next month.
Jamil said HDC would require further funding from the government to roll out its initiatives over the next three years. After that, he said it intends to generate enough revenue for its working capital.
He said the first strategy would focus on creating the regulatory framework for the Malaysian halal industry and develop international halal standards and guidelines.
“We will also look at increasing the number of halal industry professionals and research and development centre. We will recommend to the government to establish world-class training facilities,” Jamil said.
Speaking at a briefing on HDC’s plans, he said HDC aims to establish a one-stop centre to monitor and assist halal SMEs in receiving certifications and grants from the government.
Jamil said HDC would seal an agreement with a financial institution next month to provide financing for halal companies.
He said HDC also intends to monitor and vet all Halal Park projects that had been set up the government. There are currently 13 Halal parks in the country that have grown beyond the conceptual stage.
Jamil said the organisation’s third strategy would involve branding and promotional activities to increase awareness on halal products.
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