Malaysia’s halal economy to bounce by end of 2021: Halal Development Corporation
KUALA LUMPUR - The custodian of Malaysia’s commercial halal agenda has predicted that the country’s halal economy will start to show recovery from its plummeting fortunes towards the end of this year, but much more time will be needed before the segment returns to pre-pandemic levels.
The Halal Development Corporation (HDC), the government-run agency charged with promoting Malaysian halal expertise to the wider world, said the national recovery plan to bring the public and economy out of a lengthy lockdown in 2020 has so far enabled an improvement in the fortunes for halal manufacturers and traders.
However, although HDC’s vice-president, Hanisofian Alias, told Salaam Gateway that “positive recovery” was expected for Malaysian companies from the fourth-quarter of 2021, it still “might take at least another year for Malaysia to show halal growth beyond the revenue levels recorded in 2019”.
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