PRESS RELEASE

INCREASINGLY EMBRACED HALAL INDUSTRY AND ISLAMIC FINANCE DRIVES THE INTERNATIONALISATION OF ISLAMIC ECONOMY

KUALA LUMPUR, 5 April - Strengthening ties with regional and international economies will continue to be fundamental to the growth of the global Islamic economy including Malaysia's pursuit in becoming a high value-added, high-income economy, said His Royal Highness Paduka Seri Sultan Perak Darul Ridzuan Sultan Nazrin Muizzuddin Shah Ibni Almarhum Sultan Azlan Muhibbuddin Shah Al-Maghfur-Lah.

HRH Sultan Nazrin said Islamic economy is increasingly being embraced on a global scale to become an integral part of the international system, and in the process of its development, has further expanded opportunities for the participation by the international community.

"This increases the inter-linkages both within and between economic regions of the world. In enhancing these new linkages and greater integration, Islamic economy is envisaged to contribute towards unlocking new potentials that would bring mutual benefits, and in doing so, enhance our overall prospects," his HRH Sultan Nazrin said.

HRH Sultan Nazrin was speaking during a special address at the World Halal Conference 2018 (WHC 2018) ahead of a panel discussion on the Internationalisation of Islamic Economy: Global Integration and Strategic Collaboration.

The panel discussion was moderated by Prof. Dato' Dr. Azmi Omar, President and Chief Executive Officer of the International Centre for Education in Islamic Finance (INCEIF), and the panel speakers are Assistant Governor of Bank Negara Malaysia Mr. Marzunisham bin Omar; Lembaga Tabung Haji Deputy Chief Executive Officer Dato' Badlisyah Abdul Ghani; Mr. Richard Record, Lead Economist of the World Bank Group; and Mr. Ahsan Ali, the Managing Director and Head of Islamic Origination Standard Chartered Bank in the United Arab Emirates.

While the early development of Islamic economy was very much domestic-centric, today, the growth of Islamic economy is no longer organic and largely concentrated in countries where the Muslim population is significant, and the prime contributor to this is the increasing demand for Halal products, and greater acceptance of Islamic finance.

This recent decade has seen the internationalisation of Islamic economy, thus increasing the potential for strategic partnerships between international regulators and players that will bring mutually reinforcing benefits. Global integration and strategic collaborations will also enhance opportunities for Malaysia and other countries to capitalise on the diverse comparative advantages of nations.

The huge appetite for Halal products, and the Halal industry has grown to become a vibrant platform for Islamic economy to compete for a bigger share in today's globalised economy. For example, from approximately US$3.2 trillion in 2012, the global Halal economy is expected to increase by 100% to US$6.4 trillion by 2018.

The positive attributes of Islamic finance has also emerged to become an effective tool for financing development worldwide, both in Muslim and non-Muslim nations, with the potential of addressing the challenges to end extreme poverty and boosting shared prosperity, according to the World Bank.

The Islamic finance industry has expanded at the rate of 10% to 12% per annum over the past decade, and is expected to grow to US$6.7 trillion by 2020, driven by a surge of Islamic finance interest from non-Muslim nations. Today more than US$260 billion is invested in Islamic funds and there are over 300 global Islamic institutions active around the world.

Meanwhile, Malaysia's dynamic leadership in Islamic finance also saw it accomplish a stellar year in 2016 for corporate Sukuk issuance in which corporate issuers dominated the market with US$47.3 billion volume of issuance, representing a share of 63.2%, in contrast to historical trends where issuance was driven largely by sovereigns.

Organised by the Halal Industry Development Corporation (HDC), the WHC 2018 is themed "Whither the Next Economy?" and is an international platform to highlight the areas of Malaysian expertise that seeks to become a global benchmark in the development of the Halal industry.

ABOUT HALAL INDUSTRY DEVELOPMENT CORPORATION SDN BHD (HDC)

The Halal Industry Development Corporation (HDC) was established on 18 September 2006 with the express objective of coordinating the overall development of the Halal industry in Malaysia for both the domestic and international markets. HDC is an agency under the Prime Minister's Department of Malaysia.

HDC is Malaysia's holistic response to the worldwide demand for better quality products and services as consumers gain confidence in the Halal process. Its key thrusts are to grow and advance the development of Halal standards; facilitate capacity- building for Halal products and services; and promote growth and participation of Malaysian companies in the multi-trillion dollar global Halal market and industry. Today, there is an estimated population of 1.8 billion Muslims worldwide. The global Halal market is currently estimated at USD2.3 trillion covering both food and non-food sectors.

In its effort to serve as an international hub for the Halal industry, HDC provides manufacturers, distributors, retailers, entrepreneurs, researchers and investors with comprehensive assistance to penetrate and serve a growing global Halal market through the adoption of the Malaysian experience and expertise in food and non-food sectors. For more information, please visit HDC at www.hdcglobal.com.

NEW RELEASE prepared and issued on behalf of Halal Industry Development Corporation (HDC) by public relations consulting firm - GRA Communications Sdn Bhd. FOR MORE INFORMATION, please contact:

HDC: Norsida Ahmad, PR & Media, at +6012 3249703 or email norsida.ahmad@hdcglobal.com

MATRADE: Amin Amirul, Communications Stakeholder Management & Communication, at +6011 1143 1382, aminamirul@matrade.gov.my

JAKIM: Muhammad Naim Mohd Aziz at +603 88925033 or email at naimaziz@islam.gov.my

OR Ghazalie Abdullah at +6017 3361090 or email ghazalie@gra-pr.com OR Harris Iskandar Taib at +6019 2711609 or email harris@gra-pr.com OR Nur Asyila Ahmad Tarmizi at +6010 4006015 or email asyila@gra-pr.com.

WORLD HALAL WEEK 2018: MALAYSIA IN THE LEAD AS A ROBUST ISLAMIC ECONOMY

KUALA LUMPUR, 4 APRIL - "As at December 2017, Malaysia reaffirmed its position as the leading global Halal hub with an annual export value of RM43 billion for Halal products, and attracted investments worth RM13.3 billion in HALMAS Halal Parks. To date, a total of 28,000 jobs were created. These contributed approximately 7.5% to our nation's Gross Domestic Product (GDP) for last year," said Malaysian Deputy Prime Minister Dato' Seri Dr Ahmad Zahid Hamidi.

Speaking at the opening of the World Halal Week 2018 (WHW 2018), the Deputy Prime Minister said "Malaysia once again leads the Global Islamic Economy Indicator (GIEI) for the fifth year in a row. This impressive lead reflects a robust Islamic Economy ecosystem, with Malaysia enjoying a substantial lead in Islamic Finance and Halal Food."

WHW 2018 is organised and led by Halal Industry Development Corporation (HDC) as the central agency under the Prime Minister's Department of Malaysia in collaboration with the Malaysia External Trade Development Corporation (MATRADE) and the Department of Islamic Development Malaysia (JAKIM). Themed "Building for the Future", World Halal Week has become pivotal in steering the growth of the global Halal industry.

The theme is most timely as waves of innovation are pervasive in Islamic economy in the recent years, fostering the generation of a wide spectrum of Islamic financial products and services.

"The Government recognises the potential of the Halal industry and Islamic banking and finance, both pillars for the development of the Islamic economy. As such, the government will continue to support the development of these two industries which would provide economic benefit to the country and Muslim ummah globally," added Datuk Seri Abdul Rahman Dahlan, the Minister in the Prime's Minister Department in his address.

WHW 2018 comprises of three major components: a two-day World Halal Conference 2018 (WHC 2018) organised by HDC which starts today (April 4); the Malaysia International Halal Showcase (MIHAS) from today until 7 April organised by MATRADE; and the Malaysia International Halal Assembly (MyHA) which started on 26 March and ended yesterday (3 April) organised by JAKIM.

Speaking of the World Halal Conference which starts today, HDC Chief Executive Officer Dato' Seri Jamil Bidin said the event brings together more than 1,000 delegates from more than 50 countries to discuss an underlining theme "Whither the Next Economy?" It is an international platform to highlight the areas of Malaysian expertise that seeks to become a global benchmark in the development of the Halal industry.

"Industry players of Halal products cannot alienate themselves from what is rapidly happening around us – they must adapt, because the technology applies to everyone now and our role at HDC is to nurture and develop these companies to be ready for the global revolution," said Dato' Seri Jamil.

"Companies must evolve to incorporate these new technologies into their business, deciding how they can use all the tools at their disposal today to develop their business, reduce cost, achieve higher revenue and to increase productivity."

The 10th WHC 2018 will focus on five panel discussions namely on Game Changer: Economy Revolution; Emerging Trends of Global Economy & Implications to Malaysia's Halal Industry; the Internationalisation of Islamic Economy: Global Integration & Strategic Collaboration; Halal & Science; and Managing the Brand.

This year, more interesting segment of the conference will be led by His Royal Highness Paduka Seri Sultan Perak Darul Ridzuan Sultan Nazrin Muizzuddin Shah Ibni Almarhum Sultan Azlan Muhibbuddin Shah Al-Maghfur-Lah which takes a look at global integration and strategic collaboration in internationalising of Islamic economy.

On the trade promotion end, the Malaysia External Trade Development Corporation (MATRADE) will organise the 15th edition of Malaysia International Halal Showcase (MIHAS) from 4th to 7th April, 2018, at the Malaysian International Trade and Exhibition Center (MITEC).

The largest MIHAS ever, this year's edition has attracted the participation of over 800 companies in various Halal sectors including food and beverage, pharmaceutical, cosmetics, finance, tourism, e-commerce and logistics.

MIHAS which is currently the largest trade fair dedicated to halal economy in the world has attracted exhibitors from over 40 countries, including Indonesia, Thailand, China, the Philippines, Japan, France, India and South Africa. MATRADE has also, as part of its "International Sourcing Programme" (INSP) invited over 200 international buyers to attend MIHAS. These buyers were pre-selected by MATRADE's 47 worldwide offices.

Visitors to MIHAS will also have access to the multitude of programmes that are being organised in conjunction to MIHAS at MITEC such as the Halal Trade Finance Conference, Halal in Travel Seminar, MyPITCH@MIHAS 2018, IMHALAL Conference@MIHAS and Halal Gelatin Industry Ecosystem Seminar.

Malaysia International Halal Assembly (MyHA) is a combination of four programmes ; the Halal Professional Board course, International Halal Capacity Development Programme, Halal Certification Bodies Convention and the International Halal Authority Board General Assembly; started from 26th March to 3rd April 2018 that was held at Le Meridien Hotel Putrajaya, Malaysia. More than 900 participants from over 42 countries were expected to be in attendance.

Returning for the 9th year, the Halal Certification Bodies Convention (HCBC) in 2018 brought another exciting theme – "Halal Connecting the World". HCBC is a convention that gathers together, leaders in the global halal industry, religious authorities as well as Halal professionals from all over the world to provide insights on the halal industry.

NEW RELEASE prepared and issued on behalf of Halal Industry Development Corporation (HDC) by public relations consulting firm - GRA Communications Sdn Bhd. FOR MORE INFORMATION, please contact:

HDC: Norsida Ahmad, PR & Media, at +6012 3249703 or email norsida.ahmad@hdcglobal.com

MATRADE: Amin Amirul, Communications Stakeholder Management & Communication, at +6011 1143 1382, aminamirul@matrade.gov.my

JAKIM: Muhammad Naim Mohd Aziz at +603 88925033 or email at naimaziz@islam.gov.my

OR Ghazalie Abdullah at +6017 3361090 or email ghazalie@gra-pr.com OR Harris Iskandar Taib at +6019 2711609 or email harris@gra-pr.com OR Nur Asyila Ahmad Tarmizi at +6010 4006015 or email asyila@gra-pr.com.

WORLD HALAL WEEK 2018 TO REINFORCE HALAL INDUSTRY INTO AN ISLAMIC ECONOMIC PILLAR

KUALA LUMPUR, 16 MARCH --- Thousands of delegates from around the world will gather in Malaysia in April to attend the World Halal Week (WHW) 2018 to discuss and deliberate on the extensive prospects of the Halal industry becoming a key contributor to Global Economy.

WHW 2018 is led by the Halal Industry Development Corporation (HDC), as the central agency under the Prime Minister's Department of Malaysia and will be launched by YAB Dato' Sri Mohd Najib bin Tun Abdul Razak, the Prime Minister of Malaysia.

Themed "Building for the Future", World Halal Week has become pivotal in steering the growth of the global Halal industry and is organised by HDC in collaboration with the Malaysia External Trade Development Corporation (MATRADE) and the Department of Islamic Development Malaysia (JAKIM).

WHW 2018 comprises of three major components: the World Halal Conference (WHC) 2018 from 4-5 April 2018 that will be organised by HDC; the Malaysia International Halal Showcase (MIHAS) from 4-7 April 2018 organised by MATRADE; and the Malaysia International Halal Assembly (MyHA) from 26 March to 3 April 2018 organised by JAKIM.

The media announcement today was led by HDC Chief Executive Officer Dato' Seri Jamil Bidin and jointly present were MATRADE Chief Executive Officer Ir Dr Mohd Shahreen Zainoreen Madros, and JAKIM Director of Halal Hub Division, Dato' Dr Sirajuddin Suhaimee.

Speaking of the World Halal Conference, HDC Chief Executive Officer Dato' Seri Jamil Bidin said the event will bring together more than 1,000 delegates from more than 50 countries to discuss an underlining theme "Whither the Next Economy?" It is an international platform to highlight the areas of Malaysian expertise that seeks to become a global benchmark in the development of the halal industry.

"Industry players of Halal products cannot alienate themselves from what is rapidly happening around us – they must adapt, because the technology applies to everyone now and our role at HDC is to nurture and develop these companies to be ready for the global revolution," said Dato' Seri Jamil.

"It is no longer a question of whether we are ready or not – we have no choice but to be ready! Companies must evolve to incorporate these new technologies into their business, deciding how they can use all the tools at their disposal today to develop their business, reduce cost, achieve higher revenue and to increase productivity."

The 10th WHC 2018 will focus on five panel discussions namely on Game Changer: Economy Revolution; Emerging Trends of Global Economy & Implications to Malaysia's Halal Industry; the Internationalisation of Islamic Economy: Global Integration & Strategic Collaboration; Halal & Science; and the Digital Economy: Managing the Brand.

On MIHAS 2018, MATRADE Chief Executive Officer Ir Dr Mohd Shahreen Zainoreen Madros said the four-day event will be held at the Malaysia International Trade and Exhibition Centre (MITEC). Dubbed as the world's largest Halal Expo, last year's event had drawn more than 22,000 trade visitors, attracted 576 companies from 33 countries, and successfully negotiated a trade value of more than RM1 billion.

This year MIHAS will be even larger, with visitors expected to increase by 10-15 per cent, and with more than 1,000 exhibition booths.

Meanwhile, JAKIM's Director of Halal Hub Division, Dato' Dr. Sirajuddin Suhaimee said more than 900 participants from at least 42 countries are expected to attend the Malaysia International Halal Assembly (MyHA). The assembly will comprise of the Halal Professional Board course, International Halal Capacity Development Programme, Halal Certification Bodies Convention and the International Halal Authority Board General Assembly.

To emphasize on Halal Malaysia's performance, Dato' Seri Jamil announced that the country's total Halal export value in 2017 amounted to RM43.39 billion, increasing RM1.2 billion from the previous year.

The food and beverage industry continued to account for the largest export value at RM20.1 billion, followed by Halal ingredients at RM15.7 billion, palm oil derivatives at 3.6 billion and cosmetics & personal care products at RM2.9 billion.

The top 10 importers of Malaysia's Halal products were led by Singapore (RM4.9 billion); China (4.8 billion); Japan (RM2.8 billion); the United States (RM2.7 billion); Indonesia (RM2.2 billion); the Netherlands (RM2.0 billion); Thailand (RM1.7 billion); Australia (RM1.5 billion); India (RM1.4 billion); and South Korea (RM1.3 billion).

Dato' Seri Jamil said multinational companies continued to dominate Malaysia's halal export market, accounting for RM38 billion worth of exported products. Malaysian small and medium enterprises generated RM3.8 billion worth of exported Halal products while RM1.5 billion was contributed by small industries.

"Globally, there is a rapidly growing interest in Halal products and the Halal industry in general as countries begin to realize the potential of the industry and just how much it can contribute to their respective economies," said Dato' Seri Jamil.

"It is also ironic that with a global Muslim population of more than 1.8 billion, much of the interest in developing Halal products and the Halal industry seem to come from nonMuslim countries, with the exception of Malaysia, whereas the majority of Muslim countries appear to be the biggest consumer and not producer of halal products".

 

NEW RELEASE prepared and issued on behalf of Halal Industry Development Corporation (HDC) by public relations consulting firm - GRA Communications Sdn Bhd.

FOR MORE INFORMATION, please contact:

HDC: Norsida Ahmad, PR & Media, at +6012 3249703 or email norsida.ahmad@hdcglobal.com

MATRADE: Muhammad Amin Amirul, Communications Stakeholder Management & Communication, at +6011 1143 1382 or email at aminamirul@matrade.gov.my

JAKIM: Muhammad Naim Mohd Aziz at +603 88925033 or email at naimaziz@islam.gov.my

OR Ghazalie Abdullah at +6017 3361090 or email ghazalie@gra-pr.com OR Harris Iskandar Taib at +6019 2711609 or email harris@gra-pr.com OR Nur Asyila Ahmad Tarmizi at +6010 4006015 or email asyila@gra-pr.com.

MALAYSIA & THAILAND SIGNS MOU TO GROW HALAL MARKET IN BOTH COUNTRIES

KUALA LUMPUR 5 April - The Halal Industry Development Corporation (HDC) and the Thai Small and Medium Enterprises Council today exchanged a Memorandum of Understanding (MoU) with the aspiration of creating greater trade and investment activities as well as wider market access opportunities between Halal industry players in both countries.

The MoU exchange was in conjunction with the World Halal Conference 2018 (WHC 2018) organised by HDC, represented by HDC Chief Executive Officer Dato' Seri Jamil Bidin and Chairman of the Thai Small and Medium Enterprises Council Mr.Chaiwat Hansomwong.

Under the terms of cooperation, both HDC and the Council set out to become the focal reference point for all information that is beneficial to trade, investment and development of small and medium enterprises. Both will also screen potential local entrepreneurs in their respective countries to ensure they have a good business record before introducing them to the other party, in addition to extending cooperation to other ASEAN nations.

"The MoU underlines Malaysia's commitment as a leader in the Halal industry to cooperate with other countries in exploring and growing the potential of businesses catering to the global Halal markets," said Dato' Seri Jamil.

"Collaboration programmes with other countries form a significant part in the development of the global Halal industry. It not only promotes business matching between small and medium enterprises in Malaysia, Thailand and countries in ASEAN, but facilitates the transfer of knowledge and expertise for small and medium enterprise entrepreneurs."

In 2017, Malaysia's Halal export value to Thailand amounted to RM1.76 billion, up from RM1.5 billion from the previous year with the food and beverage sector continuing to dominate sales with RM927 million. The export of Halal ingredients was the second highest export value contributing RM668 million, followed by cosmetics and personal care products with RM113 million. Industrial chemicals meanwhile, accounted for RM30.6 million, followed by pharmaceuticals at RM15 million and palm oil derivatives worth RM12 million.

Dato' Seri Jamil said Malaysia has been at the forefront in Halal development, and in its effort to serve as an international hub for the Halal industry, HDC provides manufacturers, distributors, retailers, entrepreneurs, researchers and investors with comprehensive assistance to penetrate and serve a growing global Halal market through the adoption of the Malaysian experience and expertise in food and non-food sectors.

Themed "Whither the Next Economy?", the two-day WHC 2018 has attracted more than 1,000 participants from almost 50 countries including Thailand and other ASEAN countries.

ABOUT HALAL INDUSTRY DEVELOPMENT CORPORATION SDN BHD (HDC)

The Halal Industry Development Corporation (HDC) was established on 18 September 2006 with the express objective of coordinating the overall development of the Halal industry in Malaysia for both the domestic and international markets. HDC is an agency under the Prime Minister's Department of Malaysia.

HDC is Malaysia's holistic response to the worldwide demand for better quality products and services as consumers gain confidence in the Halal process. Its key thrusts are to grow and advance the development of Halal standards; facilitate capacity- building for Halal products and services; and promote growth and participation of Malaysian companies in the multi-trillion dollar global Halal market and industry. Today, there is an estimated population of 1.8 billion Muslims worldwide. The global Halal market is currently estimated at USD2.3 trillion covering both food and non-food sectors.

In its effort to serve as an international hub for the Halal industry, HDC provides manufacturers, distributors, retailers, entrepreneurs, researchers and investors with comprehensive assistance to penetrate and serve a growing global Halal market through the adoption of the Malaysian experience and expertise in food and non-food sectors. For more information, please visit HDC at www.hdcglobal.com.

 

NEW RELEASE prepared and issued on behalf of Halal Industry Development Corporation (HDC) by public relations consulting firm - GRA Communications Sdn Bhd.

FOR MORE INFORMATION, please contact:

HDC: Norsida Ahmad, PR & Media, at +6012 3249703 or email norsida.ahmad@hdcglobal.com

MATRADE: Muhammad Amin Amirul, Communications Stakeholder Management & Communication, at +6011 1143 1382 or email at aminamirul@matrade.gov.my

JAKIM: Muhammad Naim Mohd Aziz at +603 88925033 or email at naimaziz@islam.gov.my

OR Ghazalie Abdullah at +6017 3361090 or email ghazalie@gra-pr.com OR Harris Iskandar Taib at +6019 2711609 or email harris@gra-pr.com OR Nur Asyila Ahmad Tarmizi at +6010 4006015 or email asyila@gra-pr.com.