KUALA LUMPUR: The government will reduce the processing time for halal certification from 51 to 30 days, said Prime Minister Datuk Seri Anwar Ibrahim.
During the tabling the 2024 Budget, Anwar said the Halal Development Corporation (HDC), in collaboration with the Malaysian Islamic Development Department (Jakim) would lead efforts to streamline the halal certification process, especially for halal product exporters.
He said the recent 19th Malaysia International Halal Showcase recorded sales of halal products reaching RM3 billion, which was 24 per cent higher than the target.
"The world's largest halal exhibition had matched 469 local companies with 231 international buyers from 44 countries."
As such, Anwar said in line with the Halal Industry Master Plan 2030, which stipulates benchmark halal industry contribution of 11 per cent to country's gross domestic product (GDP) by 2030, nine financial institutions would offer special programmes for halal SMEs under halal integrated platform that offers access to special funds and capacity building programmes.
He added the i-TEKAD social finance programme had benefited nearly 4,000 micro-entrepreneurs with good response by 12 financial institutions.
"As such, the government will allocate additional funds of up to RM25 million in matching grants with financial institutions to give more benefits to more entrepreneurs."