IsDB Partners with HPDC & HDC for Halal Economy Leadership Forum

Riyadh, Kingdom of Saudi Arabia – 30 April, 2024 – IsDB through the Center of Excellence in Kuala Lumpur (KLCoE) in partnership with HPDC and HDC organized the “Halal Economy Leadership Forum” (HELF) under the auspices of the IsDB Group’s Private Sector Forum 28-30 April 2024. 

The "Halal Economy Leadership Forum” seeks to accelerate collaboration between IsDB, HPDC, and HDC in developing and integrating the Halal Ecosystem between Member Countries (MCs). This initiative aims to achieve several key objectives, including fostering innovation within the Halal industry, promoting sustainable practices, creating a platform for global collaboration, facilitating knowledge exchange, and reinforcing the Halal industry's role as an economic driver.

The outcome of this collaboration is to offer IsDB Member Countries and non-member countries the best solutions in the Halal Ecosystem Development & Enablement. This includes utilizing financial instruments available to address intra-trade deficits and capitalize on potential markets. The forum also outlines joint efforts to develop a high-quality halal products ecosystem and analyze successful halal ecosystem models and market solutions.

In his opening remarks, H.E. Dr. Muhammad Al Jasser, Chairman of the Islamic Development Bank Group, expressed his strong commitment to the collaboration, stating, “Our partnerships with HDC and HPDC are not only pivotal but also hold immense promise. Together, these collaborations will yield comprehensive assessments and strategic initiatives to bolster Halal ecosystems worldwide.”

Mr. Fawaz T. AlHarbi, Chairman of the Board of HPDC, expressed his enthusiasm for the collaboration, stating: "Our collaboration with IsDB and HDC marks a pivotal moment in our journey towards redefining the Halal industry. By synergizing our efforts and expertise, we're not just shaping the future of Halal products, but we're also paving the way for sustainable growth and prosperity in the Islamic world and beyond. This underscores our unwavering commitment to innovation, empowerment, and creating a legacy that transcends borders."

The Hon. Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment and International Trade, Malaysia applauded the collaboration between IsDB, HPDC and HDC for spearheading these efforts in exchanging experiences, sharing success stories, and deliberating innovative solutions for the expansion of Halal industry, especially for the 57 member countries: “I sincerely hope this marks the beginning of many similar collaborations. Malaysia stands ready to share our expertise and extensive knowledge in the Halal industry with the global community, and we warmly welcome interested countries, especially Saudi Arabia, to engage with us.” Said Tengku Zafrul in his speech, read by H.E Datuk Wan Zaidi Wan Abdullah, Ambassador of Malaysia to the Kingdom of Saudi Arabia.

IsDB, HPDC, and HDC have joined forces to champion innovation and sustainability in the Halal industry through their collaborative efforts. With a shared vision of fostering economic growth and promoting global collaboration, this aims to elevate the Halal ecosystem to new heights. By leveraging their collective expertise and resources, these entities are poised to drive positive change and create lasting impact in the Halal sector, bringing prosperity to communities within the KSA and beyond.

In conjunction with this forum, HPDC earlier hosted a B2B Breakfast Networking Session providing networking opportunities with Halal companies from Saudi Arabia and Malaysia, aiming to promote mutual growth opportunities through trade.