Latest news with #halalindustry
Malay Mail
28-05-2025
- Business
- Malay Mail
Miti studying merger of HDC and Matrade to strengthen halal industry
KUALA LUMPUR, May 28 — The Investment, Trade and Industry Ministry (MITI) is studying the merger of the Halal Development Corporation (HDC) and the Malaysia External Trade Development Corporation (Matrade). Its Minister Tengku Datuk Seri Zafrul Aziz said the matter is under discussion because there were several other proposals put forward such as strengthening the country's halal industry. 'We want to strengthen the halal industry by focusing on halal development and do not want any overlap in terms of halal trade. 'We want Matrade to focus more on halal trade in terms of providing access to halal products, while we want to ensure that HDC focuses more on halal development,' he told reporters after the Asean-GCC Economic Forum 2025 here today. Tengku Zafrul said the Malaysian Investment Development Authority (MIDA) would focus on investments involving the halal industry. MITI announced recently that Matrade and HDC would be merging to form a stronger and more cohesive halal trade and industry ecosystem. The ministry said a pro-tem committee for the strategic merger has been established to align resources and operational frameworks while ensuring that the consolidation of functions and jobs is equitably managed. 'The merger aims to enhance Malaysia's leadership and competitiveness in the global halal market, which is projected to reach US$5 trillion by 2030,' MITI said in a statement. Meanwhile, Tengku Zafrul said the Malaysian Halal Council secretariat has proposed the establishment of a Halal Commission, which will be brought to the Cabinet's attention soon. He said the objectives to establish the commission will be announced after obtaining approval from the Cabinet meeting. 'At the moment, it is still in 'circulation' and we are gathering comments and feedback from other ministries. 'Once approved, we will be able to provide clarity regarding the establishment of this commission,' he said. — Bernama
Malay Mail
26-05-2025
- Business
- Malay Mail
Malaysia, Indonesia to lead establishment of Asean Halal Council, says Zahid
KUALA LUMPUR, May 26 — Malaysia and Indonesia are set to lead the establishment of the Asean Halal Council to position the bloc as a global model for the halal industry, built on high standards and integrity, and to emerge as a competitive, inclusive and sustainable global halal hub, said Datuk Seri Ahmad Zahid Hamidi. The deputy prime minister said that with the global halal market projected to reach USD5 trillion (USD1 = RM4.22) by 2030, Asean must emerge as a leader in developing a complementary and competitive regional halal ecosystem. Ahmad Zahid, who also chairs the Halal Industry Development Council of Malaysia, said both countries had agreed to jointly spearhead the formation of the Asean Halal Council this year. 'This will serve as a strategic platform to systematically align halal policies, standards and regulations among Asean countries. We are strongly committed to elevating halal cooperation to a higher level, focusing on strengthening the position of both countries' halal products in regional and global markets. 'This collaboration will also be a testament to the success of Malaysia's 'Halal Diplomacy' in strengthening the national halal brand globally,' he said in a statement following a strategic meeting with Indonesia's head of the Halal Product Assurance Organising Agency (BPJPH), Haikal Hassan Baras, on the sidelines of the 46th Asean Summit here today. Ahmad Zahid said Malaysia and Indonesia would intensify joint efforts in halal certification, education, research and halal workforce development. He said Malaysia also fully supports expert exchange programmes, joint training and collaborative research to strengthen the Asean halal value chain. Both countries also agreed to expand halal trade by easing market access for halal products and enhancing mutual recognition of halal certification. 'This move will facilitate smoother and more industry-friendly halal trade flows, while supporting the growth of intra-Asean trade. It is expected to have a positive impact on halal market demand in Asean, which comprises nearly 700 million people,' he said. Ahmad Zahid noted that the meeting was a continuation of his recent official visit to Indonesia, which marked the beginning of deeper collaboration between the two nations in leading the development of the regional halal industry. — Bernama
Malay Mail
17-05-2025
- Business
- Malay Mail
Anwar tells Muslim nations to strengthen economic foundations, empower youth and embrace innovation
KAZAN (Tatarstan), May 17 — The Prime Minister Datuk Seri Anwar Ibrahim called on the Islamic world to work together and strengthen its fundamentals, which begin with the economy, especially the halal industry that is worth US$3 trillion. From the Gulf countries, to the Middle East, Africa, and Asia, we should then formalise and strengthen this cohesion, he said. 'Then, Islamic finance, not a matter of adopting just what you call as 'riba'-free, but to enter into new innovations so that it offers an alternative and economically viable for the Muslim world and also the participation of non-Muslims in our societies and non-Muslim countries,' said Anwar during the Plenary Session of the 16th International Economic Forum 'Russia- Islamic World: KazanForum 2025'. Speaking in front of 2,500 participants from more than 100 countries, Anwar also touched on energy transition and digital transformation, and the need for the Muslim countries to embrace them. 'Because after all, how do we honour, love, and follow the deeds of Muhammad, peace be upon him? Because of values and character. So the issue before us, for the young and for us, is to make sure that there is a difference. Family values are important,' he said. He once again emphasised how to address issues regarding the youth today, echoing his keynote address at the earlier session, urging scholars, intellectuals, and political leaders to take action. 'We have deliberated these issues a number of times, and I have suggested in the strategic meeting this morning that for the youth, we should follow up. 'Let our young boys and girls reflect upon what we have discussed, offer more suggestions, (and) express their support or disagreement, so that the voice of the youth is not only heard, but taken into very serious consideration. 'We must ensure that the young feel and know that in our articulation of issues and decisions in terms of our priorities, they will have a major say in affecting programmes that affect the young,' he added. — Bernama
