MIDA And HDC To Woo More Investment Into The Halal Industry

The Malaysian Investment Development Authority and Halal Development Corporation Berhad are partnering to boost the country’s promising Halal industry by facilitating projects that can grow the sector.
Datuk Wira Arham Abdul Rahman, CEO of MIDA said the collaboration foresees the broader scope of economic cooperation between the MIDA and HDC, where we have expanded our networks to enhance investment facilitation and at the same time, provides opportunities for new and innovative business and strategic areas that will include projects to increase investment, including Halal parks and co-organising Halal related events.”

Mr. Hairol Ariffein Sahari, CEO of HDC, said, “To date, Malaysia’s halal parks have attracted a cumulative total of RM16.28 billion in investments since 2011. In 2021, domestic direct investments into Halal Parks has recorded an increase of RM95  million (or 45.7%), signaling that the local halal industry is still growing, despite the many ongoing challenges.”

According to HDC CEO despite the Covid-19 challenges, SMEs strived and are going for business expansion and diversification to meet the growing demand. Hence, they are scaling up and looking for suitable and sizable industrial spaces with better infrastructure and ecosystem support which are provided by HDC’s Halal Parks.
The collaboration will synchronise the process flow of investment facilitation during pre and post-investments between HDC and MIDA. For the year 2021, HDC managed to engage 130 domestic companies with a total of 17 letters of Intent (LoI) issued into Malaysian Halal Parks with a potential investment of RM133 million. It is believed with this two years partnership, 60 percent of the potential investment will be realised.

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