Kuala Lumpur, March 13 –The rise of the halal cosmetic sector has garnered a lot of interest especially among customers from Muslim countries. Malaysia is currently one of the world’s leading exporters of halal products with an estimated market value of US$12 billion.
In line with that, UMLand J-Biotech Park Sdn Bhd (UJP), The Cosmetic & Perfumery Association of Hong Kong Ltd (TCPAHK) and Persatuan Anggun Menawan Malaysia (PAMM) inked a Memorandum of Understanding (MOU) early March to bring in potential investors from Hong Kong, Macau and China to Johor Halal Park, Pasir Gudang, Malaysia. The event was held at United Malayan Land Bhd’s (UMLand) office at Suasana Bukit Ceylon, Kuala Lumpur.
UJP’s chief executive officer Mohd Noor Abdul Salam said, “Malaysian consumers spend about US$407 million on toiletries and cosmetic products annually and this is mainly on imports. Halal cosmetic and personal care products are being heavily promoted in the region.”
“We hope with this collaboration, we can increase awareness and bring more potential cosmetic and perfume investors directly into Johor. The 10-year tax incentives for Halal product manufacturers, provided by Federal Agency MIDA, will further boost Johor Halal Park and Malaysia as an attractive investment destination.”
Joseph Ho, President of the Hong Kong Cosmetic & Perfumery Ltd, added “Johor is located next to Singapore, giving opportunities to potential cosmetic investors from Hong Kong, Macau and China to merge their businesses, especially in the cosmetic industry”.
Dora Mok, General Secretary of PAMM said, “Apart from bringing potential investors from those countries, under PAMM, we have 300 successful businessowners who are registered members. Most of them also have great potential to operate their businesses in Johor Halal Park”
Johor Halal Park (JHP) is a joint venture collaboration between UMLand and Johor State Government (via Johor Biotechnology & Biodiversity Corporation (J-Biotech)). JHP will be the 25th Halal Park in Malaysia and the first Halal Park operating exclusively for 100% Halal business.
CEO of J-Biotech Holdings, Asman Shah Abd Rahman said that with the development of the scientific Halal laboratory of international standards, it will speed up the Halal testing process and allow for every product to apply for certification faster. With these facilities, the analysis process could be shortened from a timeframe of two years to 30 days.
Working together with the Halal Development Corporation, JHP has been approved with HALMAS certification since December 2016 for its first 103-acre Phase 1 development.