Mihas 2017 exhibition may further boost FDI inflows

KUALA LUMPUR: Malaysia expects to receive higher foreign direct investment (FDI) in the halal segment from countries participating in the 14th Malaysia International Halal Showcase (Mihas) from April 5-8, said Malaysia External Trade Development Corporation (MATRADE).

Director of Food, Biotech & Halal Unit Mohammad Aminuddin Sham Tajudin said Malaysia has been assisting many countries through its industry infrastructure to produce halal products and export them to Third World countries.

“For example, Thailand, which is one of the producers of halal food and beverages, has been working hand-in-hand with us in complementing their halal businesses.

“Besides Thailand, Japan is also coming on board, seeking Malaysia’s expertise in the halal industry to grow its halal segment, especially in preparation for the Tokyo Olympics 2020,” he said.

Mohammad Aminuddin said MATRADE took part in the Foodex Japan 2017 early this month and brought along at least 10 local halal companies to showcase their products and services there.

He said the initiative was aimed at showcasing Malaysia’s capability in the halal industry and engaging with Japanese companies so as they would import more halal products from Malaysia.

“We have also extended our partnership to the government level,” he said, adding that there were other countries that were now capitalising on Mihas as a platform to make forays into other countries.

Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi was reported as saying that Malaysia was ready to facilitate Japan’s FDI.

He said the government would streamline the FDI inflow process with state governments, local authorities, the Malaysian Investment Development Authority, and the Ministry of International Trade and Industry.

“This has some bearing on Japan as it will be able to reach the growing world’s halal market with the Muslim population expected to hit 2.8 billion by 2050,” Ahmad Zahid said.

Mohammad Aminuddin said there was an overwhelming support from local companies for the event as they did not want to miss the opportunity to expand their business abroad.

The booths have been oversubscribed by Malaysian companies and due to the high demand, priority will be given to them although Mihas is an international event, he added.

The local companies range from small and medium enterprises to multinationals, and some of the big names include Mamee, Brahim’s and Nestle.

“Local companies should be export-ready and able to fit the capacity to accommodate the demand,” he said, adding 348 out of 615 booths at Mihas would house local exhibitors.

Meanwhile, 31 countries, including Malaysia will be participating in Mihas this year. Foreign exhibitors include those from Chile, Tunisia, New Zealand and the Philippines.

Mohammad Aminuddin said everybody wanted a piece of the pie as the global halal industry was worth US$3.7 trillion. – Bernama