Twenty-one Malaysian companies will be participating in the upcoming Volga Investment Summit and World Halal Day 2019 which is set to take place from Oct 3 to 5, 2019 in Samara region, Russia.

They are Mofaz Dagang Sdn Bhd (representing eight of sister companies), GISB Holdings (representing 10 companies), IVM Group of Companies, MAI Q Consult & Services and Sinar Purnama Niaga Sdn Bhd.

Kumpulan MOFAZ Sdn Bhd president and founder Mohamed Fauzy Abdul Hamid said their participation is geared towards developing business and investment relationships based on Islamic principles and practices in Russia, Commonwealth of Independent States’ (CIS), Malaysia, ASEAN countries and other countries that have interest on halal.

He also said several business matching sessions would be held, citing that Malaysian companies stand a big chance of securing business agreements there, given Malaysia’s well-known status in Islamic finance and halal markets.

“This will be the first time for World Halal Day to be held in Russia.

“I guess this is a positive sign (for us to reap the halal opportunities in Russia) as we know it is a shy country but we are ready to open its doors to the outside world,” he told reporters today.

In July 2019, Kumpulan MOFAZ’s wholly-owned subsidiary, MOFAZ Dagang inked a memorandum of understanding (MoUs) with the CIS’ International Association of Islamic Business (IAIB) to explore the potential of the halal market in former Soviet Union countries.

Following the deal, MOFAZ Dagang would act as a facilitator to bridge Malaysian industry players and Russian consumers.