The Halal Economy Leadership Forum (HELF 2024) in Putrajaya, organised by Halal Development Corporation Berhad (HDC), gathered world leaders, experts, and stakeholders within the Halal Industry.
This collaborative effort involved the Islamic Development Bank (IsDBC) and Halal Products Development Company (HPDC).
HELF 2024 symbolises Malaysia and Saudi Arabia’s shared vision to lead the world towards a halal economy. This collaboration aspires to support and guide IsDB member and non-member countries in developing their halal ecosystems.
As part of this endeavour, HELF 2024 is themed, ‘Embracing Halal Innovations’. On innovation, HDC Chairman Khairul Azwan Harun highlighted the significance of digitalisation in the halal ecosystem, which maintains a challenge for Malaysia, especially regarding traceability.
“There has to be a very formidable traceability in terms of compliance and adherence to halal standards, stressed Khairul.
An efficient traceability system throughout the supply chain is critical in ensuring compliance with halal standards.
A forum like HELF can facilitate collaboration opportunities and knowledge exchange. Such a format can significantly contribute to Malaysia and other participating nations’ digitalisation endeavours.
Moreover, the collaboration between HDC, HPDC, and IsDB ensures a coordinated effort to advance the Halal economy.
“Without such initiative, the halal economy’s discussion and directives will be very fragmented. Meaning, every country that offers opportunities in the halal economy will be doing it on their own,” said Khairul.
This fragmentation could lead to a lack of cohesion and potentially reduce the global halal market’s overall efficiency.
Malaysia and Saudi Arabia’s joint leadership sets a new example of streamlining efforts to achieve a common goal and making a collective impact. This should inspire other countries, especially those within the OIC, to follow suit.
