Latest news with #RizanyIrwanMuhamadMazlan
New Straits Times
9 hours ago
- Business
- New Straits Times
Malaysia boosts halal trade with Africa as exports to Algeria rise
NEW DELHI: Malaysia is looking at deepening halal trade links with African countries following an impressive growth in exports to Algeria, one of the region's top economies. Malaysia underscored its interest in boosting collaboration with African partners in various halal industries at the recently held Halal Economic Leadership Forum (HELF) 2025 in Algiers. The event was held in conjunction with the Islamic Development Bank's (IsDB) Annual Meeting and Private Sector Forum. "We had discussions on the need for capacity building and technical training, with Malaysia offering expertise and knowledge transfer to develop local small and medium enterprises (SMEs) and certification bodies," Malaysia's ambassador to Algeria Rizany Irwan Muhamad Mazlan told Bernama. Co-organised by the Halal Development Corporation (HDC) under Malaysia's Ministry of Investment, Trade and Industry (MITI), the IsDB, and the Halal Products Development Company (HPDC), a subsidiary of Saudi Arabia's Public Investment Fund (PIF), the high-profile forum recognised Africa's strategic importance in the vast global halal economy. Malaysia's halal exports to Algeria in 2024 grew 24 per cent to reach RM156.30 million, with key segments being food and beverages, cosmetics, halal-certified ingredients and palm oil-based goods, Rizany told the forum. "Participants called for greater public-private collaboration and continued dialogue to advance halal economic integration and praised Malaysia's leading position in the global halal sector," he said. "Malaysia is committed to strengthen collaboration with Algeria and other Organisation of Islamic Cooperation (OIC) member states to improve halal supply chains, enhance trade integration and support shared socio-economic development," he said. Fostering entrepreneurship and encouraging innovation are seen as key to building resilient halal supply chains, with participants proposing the establishment of halal industrial zones to boost regional production capacity and world market competitiveness. Africa is seen as having significant potential both as a market and production base in the global halal business. Rizany said key agenda topics included mutual recognition of halal certification, enhancing Malaysia–North Africa trade facilitation, investment in logistics infrastructure and support systems for SMEs in halal businesses. The forum, moderated by Samer Elesawi, head of the IsDB Centre of Excellence, was attended by more than 300 stakeholders representing public and private sectors, financial institutions, development agencies and halal industry players in OIC countries. The participants included HDC Malaysia chief executive officer Hairol Ariffein Sahari, PT. ILTHABI Rekatama Indonesia chairman Ilham A. Habibie, Nigeria's Dar Al Halal Group Ltd chief Muhammadu Dikko Ladan, Turkiye's Yildiz Holding general manager Rohaizad Hassan, Datuk Johan Mahmood Merican, secretary general of the Treasury of Malaysia, and Issa Faye, IsDB's director general for global practices and partnership. — BERNAMA
Daily Express
23-05-2025
- Business
- Daily Express
EXIM Bank backs Mac World's gulf expansion
Published on: Friday, May 23, 2025 Published on: Fri, May 23, 2025 By: Bernama Text Size: Kuala Lumpur: The Export-Import Bank of Malaysia Bhd (EXIM Bank) has inked a financing agreement with Mac World Food Industries LLC, a subsidiary of Mac World Group, to support its expansion into the Gulf Cooperation Council (GCC) market. The deal was signed during the Islamic Development Bank (IsDB) Annual Meeting in Algiers, Algeria, on May 21, 2025, and witnessed by the Malaysian Ambassador to Algeria, Rizany Irwan Muhamad Mazlan. Under the deal, EXIM Bank will provide shariah-compliant financing to support the construction and operation of Mac World's state-of-the-art packaging facility in Dubai Industrial City. The 9,287-square-metre site will strengthen Mac World's capabilities as a regional leader in edible cooking oils, driving growth across the United Arab Emirates and GCC markets. 'Building on its impressive RM1.7 billion sales in 2024, this strategic investment positions Mac World for sustained growth and market leadership. 'By sourcing raw materials from Malaysia, Mac World strengthens Malaysian upstream supply chains while scaling its downstream processing capabilities in the Middle East, strengthening Malaysia's footprint in the global halal economy,' the bank said in a statement on Thursday. Advertisement In 2024, EXIM Bank has a market exposure of RM248.5 million in the Middle East, and this agreement further strengthens its foothold in the region, reinforcing Malaysia's global influence in the thriving halal industry. EXIM Bank president and chief executive officer Nurbayu Kasim Chang said the bank is ready to fuel the momentum in strengthening Malaysia's presence in high-growth markets like the Gulf region. 'Our tailored, shariah-compliant solution propels their regional expansion while reinforcing Malaysia's leadership in Islamic finance and the halal economy,' she said. Mac World Group chairman and managing director Abraham Thomas said the company's mission to bring premium Malaysian halal food products to the world is now active in over 80 countries through their trusted brands. 'This new facility in the UAE will play a pivotal role in serving the growing demand in the GCC region and is projected to contribute over US$100 million in annual revenue,' he said. In 2024, Malaysia's halal industry generated RM62 billion, projected to grow to RM500 billion by 2030, contributing 11 per cent to gross domestic product and creating 700,000 job opportunities, reinforcing Malaysia's role as a powerhouse in the global halal economy. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Barnama
21-05-2025
- Business
- Barnama
Algeria Emerges as Attractive Market for Malaysian Palm Oil
By Shakir Husain NEW DELHI, May 21 (Bernama) -- Algeria has emerged as an attractive market for Malaysian palm oil due to its vibrant and growing food industry, Malaysia's ambassador to Algeria said. Malaysian palm oil exports to Algeria grew almost 82 per cent to reach about 79,000 tonnes in 2024. bootstrap slideshow Despite palm oil's share not being large in Algeria's annual cooking oil imports of 980,000 tonnes, future demand is likely to be fuelled by the country's expanding processed food industry. "Algeria offers significant potential for palm oil use in cooking, margarine products, speciality fats, palm-based cheese, confectionery, snacks, and non-dairy creamers," Ambassador Rizany Irwan Muhamad Mazlan said. Algeria depends on imports for 75 per cent of its annual cooking oil consumption. The Malaysian Palm Oil Council (MPOC) and four Malaysian companies in April participated in Djazagro, Algeria's largest agriculture industry exhibition, to explore trade and business opportunities. The trade fair held in Algiers attracted 540 exhibitors from 38 countries. "Algeria is one of the leading economies in the Middle East and North Africa region and Malaysia is committed to enhancing trade ties with it," Rizany told Bernama.
