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Halal Products Development Company (HPDC), a wholly owned Public Investment Fund (PIF) entity, concluded its participation in Halal Expo London 2023, one of the global halal events in the United Kingdom.
At the exhibition, HPDC signed a strategic partnership with Malaysia’s Halal Development Corporation Berhad (HDC), to stimulate the growth of the halal industry in Saudi Arabia and globally, said a press release issued by HPDC.
According to the terms of the agreement, the two companies will exchange information on industry-leading practices and successful models of halal ecosystems.
In addition to helping stakeholders in a variety of halal sectors boost commercial relationships, the agreement will broaden the scope of collaboration by facilitating engagement with halal exporters and investors.
HPDC CEO Fahad S. AlNuhait said: “Through our partnerships and strategic agreements, we at HPDC strive to connect vendors, distributors, and businesses operating in the halal industry across the world.”
“We are excited to enter into this landmark agreement which allows us to leverage shared resources to make a significant contribution to the expansion of the industry. With this agreement, our aim is to establish a dynamic ecosystem in Saudi Arabia that enhances the local economy, invites international investors, and increases halal trade worldwide.”
HDC CEO Hairol Ariffein Sahari said: “This collaboration transcends mere business alignment; it embodies a shared vision to propel the halal industry to new heights globally. With HDC’s vast experience in building a comprehensive halal ecosystem, we will provide specialized advisory, investment strategies, innovation collaboration, technology transfer and Industry Thought Leader sharing. We believe HDC can provide a proven effective operational model, along with a sustainable halal ecosystem that not only brings substantial benefits to Saudi Arabia but also extends its positive impact to a global scale and beyond.”
The two organizations will continue to collaborate with key stakeholders in the global halal industry, and jointly work toward shaping the halal ecosystem, ensuring transparency and efficiency all the way, the release said.
Through capital investment and advisory services, HPDC strives to localize the halal production industry in Saudi Arabia, strengthen the sector’s capabilities globally and promote the holistic benefits of the halal lifestyle.
HPDC aims to position Saudi Arabia as the global halal hub and facilitate economic diversification, in line with the objectives of Saudi Vision 2030.
Held at Tottenham Stadium from December 1 to 3, the Halal Expo London brought together stakeholders representing a variety of sectors from the halal industry under one roof. The event provided a lively platform for businesses, individuals and organizations to showcase their products, engage in discussions, network, and connect to explore the next frontiers of the global halal industry.