The Saudi Exports Development Authority (SEDA) and Halal Products Development Company (HPDC), a wholly-owned subsidiary of the Public Investment Fund (PIF), have struck a strategic cooperation agreement to launch the “Halal Products Manufacturing Accelerator program”.
The agreement comes as an effort to enhance cooperation between the two parties and oversee the Halal products sector at the strategic and operational levels, supporting Saudi companies as they enter the global Halal market.
In addition, the agreement encourages consumers to buy Saudi goods, and harnesses all capabilities to develop and promote Saudi exports across the world. The agreement was signed by Mr. Fahad S. AlNuhait, HPDC CEO, and Eng. Abdulrahman Althukair, CEO of SEDA.
Fahad S. AlNuhait CEO – HPDC
“The agreement aims to enhance the efforts of HPDC and SEDA to develop a comprehensive local industrial ecosystem for Halal products and support the strategy for entering the Halal market. This would be in addition to their cooperative efforts to identify target markets and partners, facilitate communication with them, and identify market activities targeted by HPDC.”
Mr. AlThukair, the strategic cooperation with HPDC aligns with SEDA’s efforts to elevate national products and comes within the framework of “Made in Saudi”, one of SEDA’s programs and a component of the National Industry Development and Logistics Program, a major program of Saudi Vision 2030. Through this program, SEDA aims to realize an ambitious vision to make national products and services a preferred choice locally, regionally, and globally.
Under this agreement, HPDC will provide strategic advice to SEDA to build a local Halal ecosystem in line with domestic and international regulations, as well as provide support in the areas of industry and export, contributing significantly to the economy. Additionally, the agreement covers consultations on setting up a unified Saudi Halal brand approved by the relevant authorities in the Kingdom.
HPDC aspires to establish a vibrant and flexible system for Halal products in Saudi Arabia that will support efforts to localize the sector, promote local exports of Halal products, enhance innovation, and advance economic growth and diversification in accordance with Saudi Vision 2030.
As a key enabler of the Halal products industry at the international level, HPDC seeks to maximize the value provided to its partners, inspired by the values of quality, loyalty, and honesty. It aims to benefit from the comprehensive advantages provided by the Halal lifestyle and contribute to consolidating the position of the Kingdom of Saudi Arabia as a leading global center for Halal products.
