Kuala Lumpur:Malaysia's halal industry is set to expand further with financial assistance under Budget 2027, focusing on strengthening local businesses, enhancing product competitiveness, and preparing them for broader market opportunities.
According to BERNAMA News Agency, the Halal Development Corporation Bhd (HDC), an agency under the Ministry of Investment, Trade and Industry (MITI), plans to align its Developmental Programme 2027 with the budget's priorities. This alignment will emphasize business modernization, productivity, capability development, and export readiness.
HDC's CEO, Hanisofian Alias, emphasized that the financial assistance would help local companies overcome barriers to halal certification, strengthen their operations, and access wider markets. He noted that support for first-time halal certification applications and for halal micro, small, and medium enterprises (MSMEs), including those in the pharmaceutical and cosmetics sectors, would address some of the challenges businesses face in meeting market requirements and expanding their operations.
The HDC will continue to assist local companies in moving beyond compliance, enhancing their commercial readiness, and competing more effectively in domestic and international markets. It will also strengthen its Halal Compliance Capability Acceleration Intervention Programme (PIMKPH) to help MSMEs understand and meet the requirements of the Malaysian Halal Certification Scheme (SPHM).
Prime Minister Datuk Seri Anwar Ibrahim, also the Finance Minister, announced the grants while tabling Budget 2027 in the Dewan Rakyat. The grants include up to RM5,000 for first-time halal certification applications and RM25,000 for halal MSMEs, particularly in the cosmetics and pharmaceutical sectors.
HDC's Halal Home Grown Champion 3.0 initiative, running from 2027 to 2030, aims to make 110 participating companies, or 50 percent of the total, export-ready. It targets at least a 10 percent increase in sales value, with at least two participating companies expected to produce environmental, social, and governance (ESG) reports.
Furthermore, HDC will facilitate access to international markets through the Malaysia Global Halal Show (MGHS), supporting Malaysian companies at overseas trade exhibitions with business-to-business matching, networking, market briefings, and promotional activities.