Singapore-listed property developer Regal International Group, in the latest of a recent series of ventures, has entered into a Heads of Agreement on 12 September 2016 to develop a halal industry zone in a China industrial park.
Its subsidiary, Million Sunray, has been granted by China-Malaysia Qinzhou Industrial Park (CMQIP) Administrative Committee a period of 12 months and the sole and exclusive right to develop such a zone within the Qinzhou Industrial Park.
The scope of the cooperation includes the construction of various centres for Halal certification and review, research and development as well as exhibitions.
The designated zone will also provide for the building of a Halal food processing production line, logistics and warehouse area.
 “As a developer, we see tremendous opportunities for CMQIP to enable businesses from China and Malaysia to collaborate and tap into the global Halal market. Leveraging on Malaysia’s widely accepted accreditation in Halal certification, Regal holds a strategic edge over native Chinese developers, and provides the unique platform for aspiring businesses to penetrate into to this fast-growing global market.“Going forward, we will begin promoting the CMQIP Halal Industry Zone internationally and invite businesses interested to endorse their products with Halal certification to set up operations in CMQIP." -- Dominic Su, Executive Chairman, Regal International. NextInsight file photo. |
The is is the first industrial park jointly established by the Chinese and Malaysian governments.
Officially launched in 2012, CMQIP aims to serve as an entry point for Malaysian companies and products to tap into the lucrative Chinese domestic market, while providing trade and investment opportunities for both Chinese and Malaysian entrepreneurs, contributing to both China’s “One Belt One Road” strategy and the ASEAN-China Free Trade Area.
With a planned area of 55 square kilometres and designed for a population of 500,000, the industrial park is set to be an integrated modern industrial district for industries, businesses and residences.
To date, 20 investment projects have been planned for set up in the park and construction for two of these projects have already been completed.
As demand for Halal meat and other products increases globally, there is potential for the proposed Halal Industry Zone to tap into the huge global Halal food market, which is estimated to be worth US$1.6 trillion by 2018.
“We are pleased to join hands with Regal International, whom we are confident, will be the most effective connector between Chinese and Malaysian companies in setting up the Halal Industry Zone,” said Ms Liu Ya Ming , Deputy Director- General of CMQIPAC, who is also the Deputy Mayor of Qinzhou state.
