Labuan Halal Hub promising

Kota Kinabalu: Labuan's Halal Hub holds great potential, especially with the contribution by the academia and graduates, such as Universiti Malaysia Sabah (UMS) and others including Jakim which is a leading global halal standard reference and authority.Malaysian Technology Development Corporation (MTDC) CEO Dato' Norhalim Yunus said his organisation's Halal Technology Development Fund is right for such development using suitable technology to create the world's best halal products.

The realisation will benefit Labuan immensely with the increase in economic contribution of halal sector small and medium enterprises through the export of halal products and services.

This development will create employment opportunities for locals in the halal-compliant industry through MTDC's prong to develop, nurture and increase the participation of SMEs in halal-based industry set-up.

His officer, in the presentation of the fund, said:

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"Halal Technology Development Fund is specifically designed to nurture and finance small and medium enterprises for long-term growth and export-driven through halal-compliant activities."

"Muslim population is expected to grow from 1.8 billion now to 2.5 billion by 2025, and the primary focus of Halal Technology Development Fund is to provide companies with access to the best advisory services and networks.

"The activities include halal product development and processes, services and regulatory compliance.

The activities are part of an effort to overcome barriers and hurdles to bring halal products and services to the market."

"Halal Technology Development Fund also provides an opportunity for companies to create innovation partnership with university, research institution, halal-related agencies or solution providers to address technical challenges in the development of new halal products and services," he said, stressing on MTDC's role and objective to equip and enhance SMEs to develop and market halal-complaint products and services for the export market.

MTDC is confident that this will optimise returns and achieve capital growth for technology-based companies involved in halal-compliant activities, and in turn develop Malaysia as a hub for production of halal-based products and services for the international market.

Stressing that more Muslims are finding it difficult to visit America and Europe, and are heading to Asian countries where new markets open up in Taiwan to Japan presenting great opportunities for halal hubs such as Labuan.

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To a question by Daily Express on the mushrooming halal hubs in many states, Sabah included as in the Kota Kinabalu Industrial Park, Papar and elsewhere and who or what agency should be responsible to synchronise these halal hubs in competition, Norhalim replied that it is not for him or MTDC's role to coordinate. "It is best left to the experts in the relevant authority."

MTDC is the foremost Federal entity promoting technology commercialisation and technological advancement for Malaysian firms to compete internationally as world class enterprises with various funding programmes for start-up, growth and expansion with no collateral required.

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