Attractive Incentives To Draw Businesses To Halal Industry In Malaysia

KUALA LUMPUR - The government is offering attractive incentives to draw businesses in the halal industry in Malaysia.

They include investment tax allowances, perks for export of halal products and exemption of duties for the import of raw materials, Prime Minister Datuk Seri Abdullah Ahmad Badawi announced here, Monday.

He said there would also be goodies for halal parks and logistics operators to facilitate an optimal supply chain and infrastructure as well as pioneer status for cold room storage operations.

Elaborating, Abdullah, who is also Finance Minister, said there would investment tax allowances or exemption on statutory income from export sales for industry players in specialty processed foods, cosmetics and personal care, pharmaceuticals, halal ingredients and livestock and meat products.

"There will be exemption from import duty on raw materials as well as double deduction on expenses incurred in obtaining international quality standards," he said in the keynote address at the World Halal Forum 2008.