Saudi PIF Launches New Firm to Localize Halal Production Industry
Highlights: Saudi Arabia’s Public Investment Fund has recently revealed the launch of the Halal Products Development Company (HPDC) in 2022. The new company aims to promote the localization of the halal production industry in the Kingdom by leveraging local knowledge, technology, and innovation to develop halal products. The focus will be on developing halal products such as food, cosmetics, and pharmaceuticals, with an emphasis on meeting the highest halal standards. The establishment of HPDC is a significant move towards achieving the Saudi Vision 2030 goals, which aim to diversify the economy and create job opportunities for Saudi citizens while promoting local innovation and expertise.
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