Malaysia is a Muslim country which is why the country always focuses on Islamic opportunity. This would mean to invest in companies and developments which are all considered “Halal” or approved by the religion. As hard as it to obtain such a channel due to their relations with non-Muslim countries, yet a new positive idea was made. Malaysia has announced that they will take steps to start spreading their halal markets to the rest of the world, starting with China.
This expansion is a huge move to the services being provided by Halal Industry Development Corporation (HDC) which is planned to reach ten different countries. The expansion is set to start in China through an investment of almost China’s US$1 trillion investment in a project named One Belt, One Road (OBOR).
Hanisofian Alias who is the vice president of HDC commented on the news reporting the countries where the expansion is expected including Kazakhstan, Uzbekistan, Egypt, Turkmenistan, Iran, Tajikistan, and Bosnia and Herzegovina.
He further commented on the move saying, “Along the OBOR route, there are about 10 Muslim-majority countries and we have identified opportunities in these new markets. For example in Kazakhstan and part of Russia, whereby our ministry will be having a joint economic commission meeting (with Russian counterpart) at the end of this year. We are expanding into these countries via internationalisation approach based on five main features namely opening new markets, rebranding, expanding services and products from Malaysia, human resources development, and thought leadership which uses Malaysia as a reference centre for the world’s halal industry.”