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BUSINESS

Halal industry to uplift Malaysia’s capacity, capabilities as global halal hub

21/02/2022 10:46 PM

KUALA LUMPUR, Feb 21 — The halal industry which has been identified as a strategic and high-impact sector under the 12th Malaysia Plan (12MP) would enhance Malaysia’s capacity and capabilities in uplifting the development of halal talent, accelerating industry development including Bumiputera participation, increasing product competitiveness and positioning Malaysia as a global halal hub. 

Senior Minister cum Minister of International Trade and Industry (MITI) Datuk Seri Mohamed Azmin Ali said he is confident that strategies outlined under the plan would open the gateway to boundless opportunities particularly to tap into the entrepreneurial capabilities of the youth.

“The Halal Industry Master Plan 2030 and the Halal Integrated Platform will play a significant role in providing a bridge between entrepreneurs and industry stakeholders, uniting them under a single halal ecosystem, focusing on micro, small and medium enterprises (MSMEs)," he said at the World Halal Excellence Awards 2021 here.

Mohamed Azmin therefore urged the MSMEs to leverage on the Islamic financial facilities through digitalisation platforms available that offer innovative shariah-compliant products and services to help tide over cash flow constraints. 

This include exploring the blockchain technology which has made a major impact on the concern over maintaining the halal integrity of food products by effectively enabling trackability and traceability in food supply chains.

“I call on industry players to come up with more creative offerings in their product and market development strategies by marshalling the tools of cutting-edge technology and riding on our trajectory of digital transformation,” he said.

Mohamed Azmin said another significant sector where the halal industry could further push the frontiers of technology is in healthcare, where greater efforts could be made across the board in developing halal alternatives in this industry. 

He said it is imperative that Malaysia realises its strength as a pioneer and a first mover in developing the halal industry, sustaining top position in the Global Islamic Economic Indicators for eight consecutive years.

“On that note, our halal pharmaceutical standard which had gained universal acceptance must be reinforced especially with the growing focus on improving health and immunity post-pandemic, fuelling the demand for new halal certified nutraceuticals, from vitamins to health supplements and medical devices,” he added.

During the awards event, among the winners are Bank Islam Malaysia Bhd and United Overseas Bank Malaysia Bhd which were awarded the Halal Finance  Excellence Award for local and international financial institutions respectively.

Omni Mal Agencies Sdn Bhd meanwhile received the Halal Best Entrepreneur SME Excellence Award for demonstrating business resiliency and financial sustainability through strategic and tactical planning.

-- BERNAMA


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