HDC: Malaysia’s halal industry boosts nation’s economic growth

The importance and quality of the country’s halal industry have brought it into becoming one of the nation’s main engines of economic growth, said Halal Development Corp (HDC) CEO Hairol Ariffein Sahari.

Meanwhile, halal cosmetics and personal care, industrial chemicals and halal pharmaceuticals make up a combined 13.1% of the country’s total halal exports in the first quarter of the year (1Q21). Hairol addressed the troubles and challenges faced by halal businesses, stating that from the special survey on “Effects of Covid-19 on the Economy and Companies/Business Firms — Round 1”, results recorded that some 67.8% of Malaysian businesses did not make any sales during the first imposed Movement Control Order (MCO) from April 10 until May 1, 2020.

Several initiatives have been offered to address the consumer demands for safe and hygienic products, including the introduction of the HDC’s digital platform Halal Integrated Platform and services such as Halal Parks, Halal Training Institute, Halal Consultancy and Advisory, and the Halal Knowledge Centre. This is due to the rise of digital commerce, as consumers shift to online platforms to acquire products and services. The World Halal Business Conference (WHBC) 2021 webinar series will also include a talk on digitalisation titled “Post-Recovery Through Digitalisation”, to which HDC COO Adly Mohamed concluded that it is a must-have and no longer a nice or good-to-have for businesses.