Ten More International Companies To Make Malaysia Regional Halal Hub By 2020

SERI KEMBANGAN (Selangor, Malaysia), Aug 24 (Bernama) -- About 10 more international companies are expected to make Malaysia their global halal hub with investments worth US$701.4 million (RM3 billion) by 2020. (US$1 = RM4.27) International Trade and Industry Minister, Mustapa Mohamed said 20 international companies had already established their base in the country and accepted Malaysia as the regional halal hub. “These global companies, which include Coca Cola Malaysia and Kellogg's (Malaysia Manufacturing Sdn Bhd) had cumulatively invested close to US$2.8 billion (RM12 billion),” he told a media session after the launch of the Halal Fiesta (Halfest) ASEAN 2017 at the Mines International Exhibition & Convention Centre here, Wednesday. On Halfest ASEAN 2017, Mustapa said 95 per cent of the 564 exhibitors were local companies and the rest from ASEAN countries. “The international exhibitors are focusing more on the Malaysia International Halal Showcase (Mihas), while Halfest is more of a platform for small and medium-sized entrepreneurs (SMEs) to penetrate the ASEAN market. “The halal industry contributes 7.5 per cent to the gross domestic product (GDP) in ASEAN. We expect this to increase to eight per cent by 2020,” he added. On the Halal Industry 2018-2020 Master Plan, Mustapa said it would be reviewed to reflect a more realistic target given the present circumstances. “We will hold a lab session in September to review the initial target. This is vital to our efforts at internationalising Malaysia’s halal industry,” he added. The sixth edition of the Halfest series, Halfest ASEAN 2017, is jointly organised by the Halal Industry Development Corporation, Department of Islamic Development Malaysia (Jakim) and the Bumiputera Agenda Steering Unit (TERAJU), and runs from August 23 - 27. -- BERNAMA