Malaysia halal industry draws RM1.1b FDI in 1st half

Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/10HALFEST/Article/

Published: October 11, 2012
BY Rupinder Singh



KUALA LUMPUR: Malaysia's halal industry has, in the first half of this year, surpassed the RM1 billion foreign direct investment (FDI) received in 2011.

According to Halal Industry Development Corp Sdn Bhd (HDC), the industry has attracted RM1.1 billion in FDI up to June this year.

HDC chief executive officer Datuk Jamil Bidin said global demand for halal products is growing rapidly, spearheaded by Malaysia as the industry leader.

Malaysia intends to maintain the export value for halal products at RM35.4 billion this year, the same as last year's figure.

"In the first six months of this year, exports of halal products reached RM16.6 billion, about half of last year's target," he told a media conference after the launch of the Halal Fiesta Malaysia (Halfest) 2012 here yesterday.

It is learnt that about one-fifth of the total exports are contributed by Bumiputera exporters, who have exported their products to many markets, including Singapore and China.

Halal exports contribute 5.1 per cent of the country's total exports of RM513.6 billion.

Jamil said halal exports comprise mainly food ingredients, food and beverage, cosmetics and pharmaceutical products.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed who officiated at the event said halal products and services have potential to grow and the opportunity should be taken by local entrepreneurs to spearhead this segment.

Halfest, the biggest halal product and services expo in Malaysia, was first held last year.

This year's event is organised by HDC, Shapers Malaysia Sdn Bhd and Majlis Amanah Rakyat, with CIMB Islamic as the main sponsor.

The event, held at the Putra World Trade Centre, started yesterday and will end on Sunday.

About 500 companies are involved in the expo, with some 70,000 visitors expected.