Halal Products Company Sponsors IsDB Private Sector Forum

The Halal Products Development Company (HPDC), backed by Saudi Arabia’s Public Investment Fund (PIF), will be a principal sponsor at this year’s Islamic Development Bank Group (IsDB Group) Private Sector Forum in Jeddah.

HPDC’s mission is to elevate Saudi Arabia as a central player in global halal markets, supporting small to medium enterprises’ expansion and nurturing international partnerships. It intends to localize innovation, technology, and knowledge to enhance the halal production framework in the Kingdom. The company aims to stimulate long-term economic growth and diversification by developing halal products through its Halal Products Advisory (HPA) division, which provides investment, equity capital, and halal advisory services.

HPDC’s CEO, Fahad Al-Nuhait, expressed enthusiasm about the company’s sponsorship, highlighting its efforts to foster collaboration, create jobs, and expand the Kingdom’s local halal production framework. He emphasized the company’s dedication to fostering a vibrant halal products ecosystem in Saudi Arabia and worldwide.

Since its inception in October 2022, HPDC has focused on enhancing the Kingdom’s halal products landscape, with a focus on the food, pharmaceuticals, and cosmetics sectors. HPDC aligns with the PIF’s strategy to localize production, diversify the economy, and support key sectors, by Saudi Arabia’s Vision 2030.

The 2023 IsDB Group Private Sector Forum, themed “Partnerships to Fend off Crises,” is a platform for business communities to discuss significant developmental and Islamic finance issues. Al-Nuhait expressed that HPDC’s participation in the forum is a prime opportunity to promote the economic potential of the halal industry.

The forum will take place from May 11th to May 13th at the King Abdullah Congress Center- The Ritz-Carlton Hotel in Jeddah. Delegations from IsDB’s 57 member countries and top-level panelists from international organizations are expected to attend, with an estimated 4,000 participants.