Halal industry wrap: Indonesia, Uruguay partner to improve halal products
Here's a roundup of key developments across the halal industry ecosystem during the month of June
Editor's note: Malaysia is planning to advance its Islamic economy ecosystem by setting up a taskforce to coordinate the development of halal industrial parks. The country is also considering tax incentives for halal industry investments, while Chinese companies are looking to tap into Malaysia's sector expertise.
Meanwhile, Indonesia and Uruguay are exploring cooperation for improving halal products.
Company News
Saudi Arabia
LuLu signs MoU to promote Brazilian products in kingdom
LuLu Saudi Hypermarket has partnered with Brazil’s ApexBrasil to boost Brazilian product consumption in Saudi Arabia.
The agreement, sealed during Brazilian Vice President Geraldo Alckmin’s visit, aims to strengthen commercial ties and expand the market for Brazilian agricultural goods.
The MoU will leverage LuLu's vast retail platform to boost the presence of Brazilian produce in the kingdom (Arab News)
Malaysia
Lady K Malaysia introduces halal and vegan Korean skincare line
Lady K Malaysia recently introduced L Soulle, its halal and vegan Korean skincare line.
The products, free from animal-based ingredients and cruelty-free, offer skincare solutions while upholding strict ethical standards.
Developed in collaboration with Kolmar Korea, L Soulle meets the rising demand for inclusive and ethically conscious beauty products. (The Malaysian Reserve)
Trade Developments
Indonesia / Uruguay
Indonesia, Uruguay explore cooperation to improve halal products
Indonesia and Uruguay have initiated a partnership to enhance global halal product standards, aligning with Indonesia's aspirations to become a frontrunner in halal production.
Efforts are underway to streamline the accreditation process for Uruguayan halal institutions such as UIC Halal Certification, demonstrating Indonesia's dedication to delivering superior-quality halal products and bolstering international halal standards. (Antara News)
Malaysia / Singapore
Malaysia will consider tax incentives for halal industry investments in Johor-Singapore SEZ
Malaysia is considering tax incentives for the halal industry within the Johor-Singapore Special Economic Zone (JS-SEZ), announced Deputy Prime Minister Zahid Hamidi.
The finalized agreement is expected during the Singapore-Malaysia Leaders’ Retreat in 2024. (The Straits Times)
Malaysia / China
Chinese companies keen to tap into Malaysia’s halal industry expertise
Chinese companies are increasingly interested in leveraging Malaysia’s expertise in the halal industry.
Malaysia, known for its stringent halal certification standards, offers valuable know-how that can help Chinese businesses expand their halal product offerings.
This collaboration is expected to boost trade and economic ties between the two countries. (Malay Mail)
Saudi Arabia / Brazil
Saudi Arabia holds investment summit in Brazil
Saudi Arabia's Public Investment Fund (PIF) is set to invest approximately $15 billion in Brazil, focusing on sectors such as green hydrogen, infrastructure, and renewable energy.
This announcement was made at the FII Institute summit in Rio de Janeiro. The summit aims to explore investments that benefit humanity, including AI, education, healthcare, and sustainability. (Summa Money)
Operational Developments
Malaysia
Govt sets up taskforce to coordinate development of halal industrial parks
The government has formed a task force to oversee the development of halal industrial parks and address constraints faced by state governments, announced Deputy Prime Minister Dr. Ahmad Zahid Hamidi.
The task force aims to collaborate with state governments to identify and resolve challenges hindering expansion in industrial parks.
Only 11% of allocated land has been developed since 2009. (Bernama news)
Indonesia
Indonesia launches logistics association
Indonesia has launched the Indonesian Halal Logistics Association to improve the halal logistics infrastructure in the country.
The initiative aims to ensure that halal products are efficiently managed and transported, meeting stringent requirements of halal certification and boosting the country's halal industry. (Halal Focus)
Technology
UAE
UAE explores lab-grown meat capabilities
The UAE is set to explore lab-grown meat production capabilities in collaboration with Believer Meats.
This initiative aims to position the UAE at the forefront of innovative food technology, potentially transforming the meat production industry by making it more sustainable and efficient. (Halal Focus)
UPCOMING EVENTS :
- Jakarta Halal Expo and Conference 2024 - Jakarta, August 30 - September 1
