HDC’s 12TH WORLD HALAL CONFERENCE PAVES THE WAY TOWARDS NEW WORLD ECONOMY

 

Halal Development Corporation Berhad (HDC) 12^th World Halal Conference (WHC2020) commenced discussions today on the transition towards sustainable consumption and production following the global pandemic to pave way towards New World Economy.

With the theme "Halal Community Driving the New Economy", topics discussed will highlight on the sustainable consumption and production as a game changer leading the evolution towards digital economy following the global pandemic.  Breakdown in economic supply chain has presented opportunities to recalibrate and reinvent programs toward a more sustainable future.

HDC’s Chairman, Dato’ Mahmud Abbas in his opening remarks highlighted that consumer behaviour is changing as result of the global pandemic, where they are making changes to the way they live and what they purchase; continuing their new habits of hygiene and clean products.

“This crisis is teaching more consumers about the importance of clean and safe products, which is central to what halal is offering. I have a very positive feeling about this and I would like to urge SMEs to invest more in marketing after the crisis is over.” 

“Simultaneously, it had accelerated consumers’ transition to digital consumption, pulling forward the movement towards the New World Economy.  It is an opportune time for WHC2020 to discuss on how the community will take the lead in bringing the halal industry centre-stage globally.” 

“The Malaysian halal industry is forecasted to contribute approximately 7% to country’s GDP for 2019 and 7.8% by 2020. In 2019, Malaysia registered a total halal export value by certified halal exporters of RM40.2 billion, a slight increase compared to RM40 billion in the previous year, backed by higher imports from the United States of America.” said the Chairman of HDC.

He added that the growth opportunities are abundance with other halal emerging markets of pharmaceutical, cosmetic and personal care, medical devices, and travel expected to see a rise in demand due to this change in consumer behaviour which will drive this growth.

In his keynote address, the Prime Minister Y.A.B. Tan Sri Muhyiddin Yassin highlighted that the development of the Halal Integrated Platform or HIP by HDC will not only put the respective halal players onto the digital platform but most importantly it intensifies the synergistic convergence within the Halal eco-system.

To ensure the transition of the halal community onto the New World Economy, HDC introduced HIP as a halal digital community platform that connects members to the key stakeholders including Government and state agencies, certification bodies, Industry players, practitioners, scholars and consumers, all under one single platform. Key benefits include preferred Halal Consultancy & Training rates, access to Halal Ingredients Database, supporting services and many more.

This platform creates marketplace to promote halal products and services and will ultimately outspread to internationalisation and cross border trades.  HDC will work with Japan, South Korea and Taiwan to certify Muslim-friendly products in their hyper malls, convenience stores and markets.  This will subsequently expand to China, Vietnam and Indonesia.

The one-day hybrid conference, a combination of virtual and physical event, held at Malaysia International Trade and Exhibition Centre (MITEC), had five sessions revolving on the role of the halal players at the different stages in the halal ecosystem.

The Ambassador panel made up of ambassadors from Australia, Japan and Russia discuss on the growth of Malaysia halal industry as well as its respective countries and how Malaysia’s expertise can be exported abroad to create new ecosystems and accelerate global halal industry.

The Captain of the Industry Panels extrapolate on responsible production and consumption and the opportunities presented post-Covid-19.  The panel speakers, from the pharmaceutical sector and food sector discussed the challenges and opportunities to revive with an increasingly resource-constrained to create a more resource efficient economy.   

To support the growth of the halal industry, panel speakers for “Driving the Growth of the Halal Economy through Islamic Finance” outlined the collaboration and integrated approach between the Halal Industry and Islamic Finance to drive the halal economy into the New Economy.

The other two panel session of “From Farm to Global Innovation” and “Setting a Trend in Global Modest Market” respectively focus on the importance of global innovation and the emerging global trend in modest fashion. 

There are 300 participants at MITEC who are joined by about 1,500 virtual global delegates from 50 countries.  

  

 

 

ABOUT HALAL DEVELOPMENT CORPORATION BERHAD (HDC)   Halal Development Corporation (HDC) spearheads the development of Malaysia’s integrated and comprehensive halal ecosystem and infrastructure to position Malaysia as the most competitive country leading the global halal industry. Established on 18 September 2006, HDC as it is also known, is the central coordinator that promotes participation and facilitates growth of industry players in the development of Malaysia’s Halal ecosystem.  An agency under the Ministry of International Trade and Industry (MITI); it is the world’s first Government-backed halal industry development corporation. For more information, please visit HDC at - www.hdcglobal.com.