KUALA LUMPUR (June 25):The Selangor government is targeting a 10% increase in potential transaction value at the Selangor International Halal Convention 2024 (Selhac 2024), to RM61 million, up from RM55.7 million achieved last year.

Selangor also expects to achieve more than 60% successful market penetration from 150 companies that will participate in the business networking at the conference, said Selangor Islamic Affairs and Cultural Innovation state executive councillor (exco) Dr Mohammad Fahmi Ngah.

This is the first time Selhac will take place together with the state investment arm Invest Selangor Bhd’s flagship event Selangor International Business Summit 2024 (SIBS 2024), which is scheduled for the second series on Oct 16 to 19 this year.

“Previously, we only had about 8,000 visitors, as Selhac was organised as a standalone conference. This year, being part of SIBS, I think that the number [of visitors] will double fairly easily,” Mohammad Fahmi told a press conference at SIBS’ launch on Tuesday.

Selhac, managed by Menteri Besar Selangor Inc’s (MBI) subsidiary HIS Toyyiba Sdn Bhd, also known as Halal International Selangor (HIS), was first held in March 2022 and recorded a transaction value of RM37.73 million, surpassing the initial estimate of RM20 million.

Mohammad Fahmi emphasised that while Malaysia’s domestic halal market has 33 million consumers, the real growth potential lies in the wider Asean region.

“If you take the whole of Asean, that is 650 million people, with at least 60% [who] are Muslims. So, imagine the exponential growth that can happen,” he said.

Selhac aims to advance the halal sector through innovation, certification and logistics. It also provides a platform for discussion and collaboration among industry leaders, policymakers, academia and various relevant stakeholders.

“This year, Selhac will continue to align halal businesses with digitalisation and technology-based solutions, fostering growth and enhancing competitiveness in the global market,” Mohammad Fahmi said.

Meanwhile, the conference also plans to focus on more niche sectors, such as food and beverages (FNB), especially for the small and medium enterprises (SMEs).

“We are targeting more on the SMEs, because these micro SMEs had a lot of hurdles and stumbling blocks to get the halal certification.

“So, for this particular Selhac, what we do is, we have to create the niche ecosystem for the conference [for those who want] to embark on the halal innovation digital,” he added.