LONDON — The Halal Products Development Company (HPDC), one of the Public Investment Fund (PIF) companies, signed a cooperation agreement with the Halal Development Corporation (HDC) in Malaysia, in order to support the growth of halal industry locally and internationally. The agreement was signed during the activities of the Halal Expo London 2023, which is considered as one of the international halal exhibitions organized in the United Kingdom. The two parties will work, within this agreement, to exchange information and experiences related to successful practices and the best business models adopted in the halal sector. They will also enhance trade relations between the stakeholders in different halal sectors, in addition to expanding cooperation horizons by facilitating communication with investors, and various providers of halal products and services. From his side, the Saudi CEO of the HPDC Fahad Al-Naheet stated, "Through our partnerships and strategic agreements, we seek in Halal Products Development to connect sellers, distributors, and companies working in the halal industry at the local and global levels." "We look forward to this agreement, which will allow us to benefit from shared resources and enhance our role in advancing the industry and expanding its presence," he added. Al-Naheet stated that they aspire to develop a vital system to this sector in Saudi Arabia that contributes in enhancing the national economy, attracting investors, and promoting halal trade in various parts of the world. In turn, the Malaysian CEO of HDC Hairol Ariffein Sahari stated that the agreement does not depend only on trade compatibility, but goes beyond that to embody a common vision to advance the halal industry worldwide. "Based on our extensive experience in developing comprehensive halal systems, we intend to provide specialized advice, strategic plans for investment and cooperation with sector leaders in the fields of innovation and technology transfer," he said. He said that the authority looks forward to providing an effective and highly efficient operating model, contributing to the sustainability of the Saudi halal system, and strengthening its positive impact both inside and outside the Kingdom. The two parties will work with the stakeholders in the global halal industry, and work together to benefit the halal system and ensure the highest levels of transparency and efficiency. It is noteworthy that the Halal Products Development Company (HPDC) works on localizing the halal products in the Saudi market, enhancing the sector's capabilities globally, and enriching the comprehensive benefits and features of the halal lifestyle. The company also aims to consolidate Saudi Arabia's position as a global halal center, and support economic diversification efforts through capital investment and advisory services.
