HDC Expects RM 1 Billion New Investment Into Halal Parks This Year

News From : DagangHalal.com (08 Sep 2011)

HDC Expects RM 1 Billion New Investment Into Halal Parks This Year

KUALA LUMPUR, Sept 6 (Bernama) – The Halal Industry Development Corporation (HDC) expects a total of RM1 billion in new investments from local and foreign firms to come into the halal parks in Malaysia.

Its chief executive officer Datuk Seri Jamil Bidin said of that amount, more than 60 per cent would come from foreign firms.

“We are targeting RM1 billion by end of this year. We have already got the obligation of firms in Japan, Korea and Pakistan,” Jamil said at a press conference today after a dialogue with operators of halal parks in the country.

The dialogue was chaired by Minister of International Trade and Industry Datuk Seri Mustapha Mohamed. The 40 participants for the dialogue comprised representatives from state economic development corporations, corridor development authorities, halal logistics players, operators of halal parks, tenants of halal parks and management personnel from related agencies. A total of RM6.029 billion worth of investments have been approved for the nine halal parks of which RM4.7 billion are from foreign firms.

Among the projects approved include from Coca-Cola (RM2 billion), Sea Party Technology (RM1.8 billion), PML Dairies Sdn Bhd (F&N) (RM250 million) and Cargill Palm Products Sdn Bhd (RM220 million).

Jamil also said that an allocation of RM200 million would be proposed to the government for the maintenance of the halal parks for the next five years. “The allocation is for drainage, water treatment and infrastructure such as roads to maintain the parks to ensure that they are in good order,” he said. Jamil said that HDC had been given the task to coordinate and monitor the developments of all the parks in Malaysia.

“The operators and representatives of halal parks stressed the need for an agency to coordinate all the parks in Malaysia and we have been given the task,” he said.

He said HDC would also strengthen and coordinate its promotional efforts for the halal parks.

Jamil added that efforts should be intensified to achieve a quantum leap in the development of the halal industry.

Participants of the dialogue also voiced out the need to review the current tax incentives to attract more investment in the halal business.

Meanwhile, Mustapa said another two halal parks, one each in Terengganu and Labuan were expected to be completed this year. Another nine, mostly owned by state governments are in various stages of development.

Mustapa also said that other issues that were raised in the dialogue included certifications and funding requirements.

Source: BERNAMA