THE ECONOMIC STRUCTURES – STRATEGIC PARTNERSHIPS (ALLIANCES)
IHTHS Corporation is taking a proactive stance in positioning itself as a key player in the development of the Special Halal Economic Zone in Brunei Bay. Our primary objective is to establish Brunei Bay as the main hub for manufacturing, production, and transshipment of halal products within the BIMP-EAGA region. This initiative involves collaboration from diverse sectors and stakeholders.
To initiate the development of the Economic Zone, it is crucial to gain support and endorsement from the BIMP-EAGA governance bodies. This can be achieved through leaders' meetings, where a multilateral agreement is reached, emphasizing the commitment of the BIMPEAGA Business Council as an umbrella organization for facilitating, rather than regulating or interfering in, the development process.
Fortunately, a comprehensive Economic Outlook for BIMP-EAGA has already been established in the form of the "BIMPEAGA Vision 2025" (BEV 2025) plan. This plan provides inclusive policies and guidance for public sector governance and private sector businesses. The development of the halal industry is one of the main agendas highlighted in the BEV 2025, ensuring transparency and creating a conducive environment for our undertaking.
The success of our venture relies on the implementation of a comprehensive and effective strategic plan. This entails forging strategic partnerships with various business associations, companies, consortiums, and NGOs. These partnerships will facilitate the systematic and coordinated development of the Halal Economy in the region, benefiting all involved parties. Over the years, IHTHS Corporation has successfully established strategic partnerships with associations, logistic and supply chain companies, and business consortiums from the East ASEAN Growth Area region, providing us with the necessary momentum to move forward.
In conclusion, the development of the Special Halal Economic Zone in Brunei Bay presents an exceptional opportunity for economic growth and regional integration. By leveraging strategic partnerships and adhering to the guidelines outlined in the BEV 2025 plan, we aim to establish Brunei Bay as a thriving hub for halal products within the BIMP-EAGA region. Through collaborative efforts and a commitment to inclusive growth, we are confident that our endeavors will contribute to the advancement of the halal industry and bring about sustainable economic development for the region as a whole.
THE CURRENT OPERATIONAL STRUCTURES
The current Operational (OPS) Structure offers a cost-effective approach to propel the development of the Special Halal Economic Zone in Brunei Bay, while maximizing the economic benefits for all stakeholders involved. This strategic roadmap aims to expedite
progress and ensure a swift realization of the project's objectives.
By adopting this OPS Structure, significant time and resources can be saved, allowing for efficient utilization of available funds and investments. The streamlined approach emphasizes a focus on key areas that yield the highest impact, accelerating the development timeline and facilitating a quicker return on investment.
The OPS Structure emphasize the importance of leveraging existing infrastructure and resources, minimizing the need for extensive and costly new developments. By capitalizing on the strategic location of Brunei Bay and leveraging the existing transportation networks, the cost-effectiveness of the project is maximized, while ensuring seamless connectivity with global markets.
The OPS Structure also place great emphasis on fostering collaboration and partnerships. By engaging key stakeholders, such as government bodies, private sector organizations, and industry experts, the project can leverage their collective knowledge, expertise, and resources. This collaborative approach not only reduces costs but also enhances the overall effectiveness and efficiency of the development process.
The OPS Structure recognize the significance of a comprehensive regulatory framework and halal certification. By establishing a robust regulatory environment and a centralized halal certification body, the project ensures the authenticity and integrity of halal products. This, in turn, instills confidence in consumers and opens doors to international markets, expanding the potential customer base and boosting export opportunities.
Additionally, the OPS Structure highlight the importance of human capital development. By investing in training programs, vocational courses, and collaborations with educational institutions, the project aims to cultivate a skilled workforce that is well-equipped to meet the demands of the halal industry. This not only benefits the local workforce but also attracts foreign investors who seek a capable and knowledgeable workforce.
To expedite growth and maximize economic benefits, the OPS Structure emphasizes the need for an integrated marketing and promotional strategy. By participating in international trade shows, exhibitions, and conferences, the Special Halal Economic Zone can showcase its unique offerings, attract foreign direct investment, and establish strategic partnerships with global players. Collaborations with tourism agencies can further capitalize on the potential of halal tourism, promoting the region as a halal-friendly destination and attracting visitors from around the world.
Continuous monitoring and evaluation form an integral part of the OPS Structure, ensuring that the project remains on track and achieves its desired outcomes. Regular reviews, updates, and feedback mechanisms allow for agility and adaptability, enabling adjustments to be made based on market trends and stakeholder input. This iterative process fosters transparency, accountability, and continuous improvement, ensuring that the economic benefits are maximized while mitigating potential risks.
The OPS Structure offer a cost-effective and efficient approach to develop the Special Halal Economic Zone in Brunei Bay. By leveraging existing resources, fostering collaborations, implementing a robust regulatory framework, investing in human capital, and adopting a strategic marketing approach, the project can unlock significant economic benefits in a shorter timeframe. The OPS Structure provides a clear roadmap for stakeholders to collectively work towards the realization of this ambitious project, while maximizing returns on investment and positioning the region as a leading hub for the global halal economy.
OPERATIONAL (OPS) STRUCTURE – FOR THE DEVELOPMENT OF SHEZ (SPECIAL HALAL ECONOMIC ZONE)
Trading: Leveraging E-Commerce Platform
To facilitate seamless trade within the Special Halal Economic Zone, the OPS Structure includes the establishment of an advanced e-commerce platform. This platform will connect producers, suppliers, and consumers, enabling efficient online transactions and promoting the exchange of halal products. The e-commerce platform will prioritize Shariah-compliant practices and provide a user-friendly interface, enhancing accessibility and convenience for all stakeholders involved.
Logistic: Shariah-Compliant Port Facilities
A crucial aspect of the OPS Structure is the development of Shariah compliant port facilities. These ports will adhere to Islamic principles, ensuring that halal products are handled and transported in a manner that aligns with religious requirements. The logistics network will be optimized to enable efficient and secure transportation, fostering smooth supply chain operations and seamless connectivity with global markets.
Finance and Investment: Public-Private Partnership (PPP) Investment Agreement
To attract local and foreign investment, the OPS Structure includes a comprehensive PPP investment agreement. This agreement will outline the terms, conditions, and benefits of investing in the Special Halal Economic Zone. It will provide a framework for collaboration between the government and private sector entities, fostering an environment conducive to economic growth, innovation, and sustainable development. Financing this development requires huge investment capital with a very good investment return.
Production: Assembling Line and Global Value Chain
The OPS Structure emphasizes the establishment of efficient production processes, leveraging assembling lines and global value chains. This approach enables the production of halal products in a cost-effective manner while ensuring compliance with quality standards. By integrating local suppliers into global value chains, the Special Halal Economic Zone can tap into international markets and expand its export capabilities, enhancing economic growth and competitiveness.
Human Capital: ASEAN Economic Community
Recognizing the importance of skilled human resources, the OPS Structure focuses on leveraging the ASEAN Economic Community (AEC) framework. Collaboration with educational institutions, vocational training programs, and knowledge exchange initiatives will be prioritized to develop a highly skilled workforce. This will ensure that the Special Halal Economic Zone has access to talented individuals who
possess the necessary knowledge and expertise to contribute to its growth and success.
System and Inventory: Blockchain Technology
To enhance transparency, traceability, and efficiency in supply chain management, the OPS Structure incorporates the utilization of blockchain technology. This technology will be employed to create a secure and decentralized system for recording transactions, managing inventory, and verifying the authenticity of halal products. By leveraging blockchain, the Special Halal Economic Zone can provide a trusted and reliable ecosystem that instills confidence in consumers and facilitates seamless business operations.