Saudi Arabia’s Public Investment Fund Forms Halal Products Development Company

Posted on 10/24/2022

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Saudi Arabia’s Public Investment Fund (PIF) announces the launch of the Halal Products Development Company (HPDC). Halal Products Development Company will invest in localizing the Halal production industry in Saudi Arabia. HPDC will enable local players, small and medium-sized enterprises in particular, to grow and expand across global markets. It will also develop the Halal production industry in Saudi Arabia through partnerships with key local and international players.

HPDC aims to localize knowledge, technology, and innovation for the development of Halal products including food, cosmetics, and pharmaceuticals. It also aims to promote opportunities for the industry by introducing services such as specialized advisory.

Food security is an important issue for many GCC-based sovereign wealth funds.