HDC Hopes To Attract Korean, Japanese Investors In Halal Cosmetics

KUALA LUMPUR, Feb 16 (Bernama) -- The Halal Industry Development Corporation (HDC) hopes to attract South Korean and Japanese investors to set up their base in Malaysia as a gateway to the halal cosmetic market. Its chief executive, Jamil Bidin said the halal industry was already gaining traction in general with investments into Malaysia amounting to US$2.54 billion (RM10.6 billion) last year, comprising US$1.34 billion (RM5.6 billion) foreign direct investment and US$1.19 billion (RM5 billion) domestic investment. (US$1=RM4.17) "Japanese and Koreans are two big players in the cosmetic and personal care industry. "Considering the huge potential in the halal industry, I believe even the big players cannot ignore the Muslim market," he told a press conference after the launch of the Halal Cosmetics and Personal Care: In Trend Conference by Deputy Prime Minister Dr Ahmad Zahid Hamidi here Tuesday. Former prime minister Abdullah Ahmad Badawi and Deputy International Trade and Industry Minister Lee Chee Leong were present. Jamil said going forward, HDC aimed to hold more sectoral halal-related conferences to enable stakeholders to grasp the do's and don’ts of the sector. He said the export value of halal cosmetic and personal care products this year would likely see little growth from last year's RM2.3 billion, given the challenging economic condition. Over 30 per cent of Malaysia's halal cosmetic and personal care products were exported to the United Arab Emirates, while other key exports markets were Turkey, Singapore and the Philippines. -- BERNAMA