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Matrade-HDC merger to strengthen Malaysia’s global halal market position | Scoop
MITI believes the Matrade-HDC merger will enhance Malaysia's position in the global halal market by leveraging Matrade’s network of 49 trade offices worldwide. — Scoop file pic, October 25, 2024
News

Matrade-HDC merger to strengthen Malaysia’s global halal market position

Combined strengths of Matrade’s export network and HDC’s industry expertise set to drive growth, global competitiveness for Malaysia’s halal sector

Scoop Reporters
Updated
7:10 PM MYT

 

KUALA LUMPUR — The Malaysia External Trade Development Corporation (Matrade) is entering into a merger exercise with the Halal Development Corporation (HDC) in a bid to strengthen the country’s position in the global halal market.

In a statement by the Investment, Trade and Industry Ministry (MITI) today, this merger will see a combination of Matrade’s export capabilities and HDC’s industry-specific knowledge.

The ministry hopes that this will improve Malaysia’s standing and competitiveness in the global halal market through the use of Matrade’s strategic network of 49 trade offices globally. 

“Most importantly, this complementarity will facilitate resource optimisation and better productivity through the leveraging of synergies across the entire industry and export value chain. This move is also expected to create local job opportunities among small and medium enterprises,” the statement read. 

Meanwhile, MITI mentioned that both Matrade and HDC will maintain their existing employees, citing that this merger complements the strengths of both entities. 

With this merger, there will be opportunities to utilise Malaysia’s Asean chairmanship next year in order to attract the right investments and expand the country’s exports in Asia. — October 25, 2024

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