The Saudi Public Investment Fund announced the launch of the Halal Products Development Company, which aims to invest in the development and localization of the halal products industry sector in Saudi Arabia.
The company will contribute to enabling local companies in Saudi Arabia, especially small and medium enterprises, to grow and expand in the global halal products industry.
The new company will work to develop the halal industry sector in Saudi Arabia, by partnering with companies working in this field at the local and global levels.
The Halal Products Development Company also aims to localize knowledge, technology and innovation to develop halal products in Saudi Arabia, including foodstuffs, cosmetics and pharmaceutical industries, and to provide many services and specialized consultations for these companies.
The new company will enable the Public Investment Fund in Saudi Arabia and its subsidiaries to obtain many opportunities for cooperation and investment in the global sector markets.
In early August, the Public Investment Fund announced the launch of the Saudi Egyptian Investment Company, which aims to invest in a number of promising sectors in Egypt.
And Bandar Al-Khorayef, Minister of Industry and Mineral Resources in Saudi Arabia, announced last weekend that the number of factories in Saudi Arabia has grown by about 50% since the launch of Vision 2030 so far, noting that the sector has developed rapidly in recent years.
