Providing Malaysian Entrepreneurs with a Competitive Edge via Digital Transformation
Kuala Lumpur, 9 September 2021 – In conjunction with the annual Malaysia International Halal Showcase (MIHAS) taking place from 9 to 12 September 2021, MYNIC Berhad, Malaysia’s official .MY domain registry under the Ministry of Communications and Multimedia Malaysia (KKMM), will participate in a Knowledge Sharing Programme to shed light on the development of Digital Transformation on Halal Industry.
As one of the speakers at the event, Datuk Ts. Hasnul Fadhly Hasan, CEO of MYNIC Berhad emphasized on the practical aspects of digital transformation in the halal industry from identifying critical elements in the halal ecosystem, consumer demands from SMEs, and tips to manoeuvre businesses through digitalisation. The session covered a variety of halal ecosystem needs, innovations, and technologies that are relevant to the halal market. It also deep-dived into the future of the halal industry which aims to further expand and position Malaysia as the key market at the global stage.
Datuk Hasnul Fadhly commented that “We are delighted with the aim to establish digital halal economy amongst MSMEs, and it is through enhance of innovation and technology. Ingredients such as .my can elevate the business through unique brand identities that will accelerate our nation’s journey to be a strong contributor to the global digital economy. We will focus on technology deployment and enhancement through .my, with the aim of expanding the competitiveness of local businesses and accelerating Malaysia’s transformation to a high-income economy.”
Despite recent challenges due to the pandemic, the halal sector is bullish and showing substantial growth. Based on the Halal Global Market predictions, the halal industry is projected to generate RM10 trillion in revenue by 2024 with the potential growth to USD8 trillion (approximately RM32 trillion) by 2030.
With such large potential, MYNIC is proud to be involved in MIHAS and aims to showcase MYNIC’s commitment and efforts in the digitalisation of the halal segment.
Datuk Hasnul Fadhlysaid, “The halal industry has always been one of the key contributors to Malaysia’s economic growth. In this event, the involvement of MYNIC at MIHAS serves as a fitted platform that provides the needed knowledge and opportunities that connect the community with the latest halal industry trends. Through digitalisation, halal certification evolves to be more efficient and transparent, and this resonates strongly with halal consumers. Today, MYNIC aims to help businesses thrive through digital transformation by bringing their businesses from offline to online, which is key for halal entrepreneurs, particularly during these trying times.”
He also stated that “We have always been conducting programs to enable entrepreneurs for more than a decade now, and we decided last year to focus and build a name and brand that people can relate to. Therefore, in November last year, MYNIC launched PRIME (Program Realisasi Impian Ekonomi Digital), with the sole purpose of empowering Malaysian entrepreneurs to drive digital adoption. As part of PRIME, we would encourage them to create an online presence and set up their own e-commerce platform in order to grow their business.
Beyond Muslim consumers, the importance of halal certification is reflected in the growing demand for halal products and services. A broader understanding of the halal ecosystem dynamics is essential for market penetration, and crucial components like halal financial services and tourism are now becoming increasingly important.
“It is not only to assist and guide MSMEs in digitalizing their businesses, but it also increases their market competitiveness by engaging in the digital economy through key components such as digital branding, digital platforms, and human capital development. We hope that with the knowledge, platforms, and tools given under PRIME program, halal enterprises will be able to develop a distinctive brand proposition that helps the industry,” added Datuk Hasnul Fadhly.
As a result of our commitment towards a brighter future for Malaysians, MYNIC will continue to work with MIHAS to better connect Malaysia’s halal industry players to the availability of digital technologies and strategies for tapping into the global halal potential.
MIHAS is organised by the Malaysia External Trade Development Corporation (MATRADE) and Ministry of International Trade & Industry (MITI), the MIHAS programme for this year includes virtual exhibitions, industry expert presentations, and demonstrations. Along with MYNIC, the event will be attended by prominent panellists across the globe to share knowledge on relevant topics and trends in the halal industry.
For more information about the Knowledge Sharing programme and MYNIC involvement, please visit https://mynic.my/