Meet the Brave New World of Luxandia, the Emerging Concept of the Metaverse to Its Next Evolution

The Luxury today announced that the development of its new venture, Luxandia is currently at 40%, with a full launch scheduled for late Spring 2022. Luxandia will be a global virtual reality space dedicated to the online luxury industry, presenting some of the world’s biggest luxury brands in retail areas, from automotive to watches.


LONDON, Sept. 02, 2021 (GLOBE NEWSWIRE) — Luxandia offers a unique opportunity for luxury brands, who will be able to showcase their products and services. These can be sold using regular currency or the company’s own cryptocurrencies, The Luxury Coin (TLX) and the upcoming in-world Luxandia cryptocurrency Lusso (LSO). The project is unique in the virtual reality space and the first to bring the $224.8 billion luxury industry to the metaverse.

“Luxandia is going to be the leading luxury virtual space in the emerging metaverse. Our vision is of an immersive, interconnected virtual world of luxury. We are starting with virtual luxury malls where brands can rent retail space and consumers can enter that same space through their laptop, but that is only the beginning,” said Catalin Dascalu, CEO of The Luxury.

“As we continue to build out the world of Luxandia, we will also be enabling support for an app and virtual reality 3D glasses, allowing people to explore online stores just like they would in real life. The possibilities are endless, including an online 3D cinema where you can watch films surrounded by the atmosphere of a real cinema or a visit to an auction house to bid on NFT art. The only limit is the imagination – and the communities on Luxandia will be free to explore the possibilities that they can imagine.”

Until recently, the metaverse was a concept only dreamed about in sci-fi, most notably Neal Stephenson’s 1992 novel Snow Crash and Hollywood director Steven Spielberg’s 2018 movie Ready Player One. Today, however, that is all changing as virtual reality, augmented reality, 3D glasses, and other digital technologies make it increasingly possible to explore entire new spaces without ever leaving your home.

The metaverse can be considered as complete and explorable digital worlds, much like the MMORPG Second Life or the virtual world of Decentraland, a project run on the Ethereum blockchain. People can buy and sell property and goods in both worlds, living a rich ‘virtual life.’

Business is also moving in on what has traditionally been seen as gamers’ virtual reality space. Facebook launched the 3D glasses virtual reality Horizon Workrooms app to help remote workers collaborate in cyberspace conference spaces using personalized avatars.

For many big tech leaders like Zuckerberg, the metaverse isn’t a fantasy – it’s the future of the internet, with endless implementations such as allowing people to venture into space without leaving home, thanks to 3D, 360-degree space walk experiences. Medical professionals are also discovering that virtual reality can ease diagnostic tests and treatments for patients, with promising research into the positive impact virtual reality systems can bring to patients entering into the fearful tedium of an MRI scan.

For The Luxury CEO Catalin Dascalu, progress in creating the metaverse is all about collaboration and cooperation rather than ‘competitive rivalries.’ By working together, tech companies can create a metaverse that matches the ambitious vision of a new and unlimited virtual space for work and play for humanity.

“Luxandia will be open to integration with other, similar projects. We believe in the power of collaborative innovation, not competitors,” added Dascalu. “We look to projects like the Aura Blockchain Consortium and how a common purpose has pulled businesses together for progress, rather than getting lost in sometimes petty competitive rivalries. This is the way forward.”

Those interested in experiencing the latest evolution of the emerging metaverse can get an early taste for Luxandia, with a waiting list expected to open in ONE month, allowing 1,000 to become beta testers of the virtual world from December 1, 2021.

Luxandia marks another bold venture from The Luxury into the world of cryptocurrency and the blockchain. The project follows The Luxury Bank, which aims to make using cryptocurrency for everyday purchases as simple as using a credit card.

For more information about Luxandia and to sign up for the waiting list when available, please visit For all general and media inquiries, please contact Aiham Saleh at +44 330 808 6781 or email

Related Images

Image captured from inside Luxandia

This content was issued through the press release distribution service at


OKEx accelerates NFT adoption with DeFi Hub, NFT Marketplace

OKEx continues its commitment to the advancement of the crypto industry and decentralized finance with the launch of DeFi Hub

VICTORIA, Seychelles, Sept. 02, 2021 (GLOBE NEWSWIRE) — OKEx (, a leading global cryptocurrency spot and derivatives exchange, today announced the launch of a decentralized digital asset ecosystem, DeFi Hub. The platform currently features two core products: NFT Marketplace and DeFi Dashboard.

The NFT Marketplace is an end-to-end NFT platform built to empower creators and inspire collectors. Via the platform, anyone can buy, sell and trade NFTs directly, with zero fees paid out to OKEx. What makes NFT Marketplace even more unique is that anyone can use the platform to mint their own NFTs of any kind, using the OEC or Ethereum blockchains.

Newly minted NFTs will be available for sale on NFT Marketplace and creators are given the flexibility to set their own royalty fees. Signalling OKEx’s commitment to protecting the interests of creators, royalty fees for creators are then paid out to them in every subsequent transaction on NFT Marketplace’s secondary market. The NFT Marketplace also lets users import NFTs that have been generated on other supported platforms.

DeFi Hub also offers a way to view and manage decentralized assets across major blockchain networks and DeFi protocols. The DeFi Dashboard displays both a full portfolio view, as well as a separate view for digital collectibles.

“The NFT market is growing rapidly in popularity, creating a need for a comprehensive system for managing NFTs,” said OKEx Director Lennix Lai in a statement. He continued:

“With DeFi Hub, we’ve created an NFT Marketplace that will accelerate NFT adoption by making it easier than ever for anyone to create, exchange, and sell NFTs. We’re also thrilled to launch DeFi Dashboard to bring much-needed improvements to users’ visualizations of their cryptocurrency portfolios.”

About OKEx

Founded in 2017, OKEx is one of the world’s leading cryptocurrency spot and derivatives exchanges. OKEx has innovatively adopted blockchain technology to reshape the financial ecosystem and offers some of the most diverse and sophisticated products, solutions and trading tools on the market. With its extensive range of crypto products and services, its unwavering commitment to innovation, and its local operations to serve its users better, OKEx strives to eliminate financial barriers and realize a world of financial inclusion for all.

Contact us 

Vivien Choi / Andrea Leung

Global Industry Leaders to Weigh Up How Energy Sector Can Contribute to a Net-Zero World at Wood Mackenzie’s Global Energy Summit

Join bp’s Bernard Looney, Anglo American’s Mark Cutifani and Shell’s Maarten Wetselaar as event assesses impact of energy transition on natural resources sector

LONDON/HOUSTON/SINGAPORE, Sept. 02, 2021 (GLOBE NEWSWIRE) — This year will prove pivotal for the energy sector. But as the world regroups from the Covid-19 pandemic, the challenge of limiting the impact of climate change has been brought into sharp relief and will be taken up in earnest at the COP26 summit in Glasgow this November.

Ahead of COP26, as companies across the energy and natural resources value chain lay the foundations of an unprecedented effort to decarbonise the globe’s energy matrix, Wood Mackenzie, a Verisk company (Nasdaq: VRSK), will gather industry leaders at its annual Global Energy SummitThe digital event will run from 28 September to 8 October.

At this year’s Global Energy Summit, Wood Mackenzie’s experts and guests will debate the critical issues affecting the energy and natural resources sector, including:

  • What would a 2-degree pathway mean for commodities?
  • How will we meet the world’s electrification ambitions?
  • Which technologies will be the winners and the losers?
  • Who will finance the transition to low-carbon energy?
  • Can the energy and natural resources sector adapt to the emerging challenges?

Wood Mackenzie’s world-leading experts and invited guest speakers from industry, finance and government will tackle these issues and more.

Keynote speakers at the plenary week include:

  • Bernard Looney, Chief Executive Officer of bp
  • Maarten Wetselaar, Integrated Gas, Renewables and Energy Solutions Director, Shell
  • Tengku Muhammed Taufik, President and Group Chief Executive Officer, Petronas
  • Mark Cutifani, Chief Executive Officer, Anglo American
  • Anne Hoskins, Chief Policy Officer, Sunrun
  • Michael Lee, Chief Executive Officer, Octopus Energy USA
  • Jonathan Posen, Head of Strategy for Sustainable Investing, BlackRock

Summit attendees will also be part of a global network and will be able to connect, learn and share with peers across the world via our event communities and one-on-one meeting tool.

As well as the plenary sessions, keynote interviews and panel discussions, this year Wood Mackenzie’s Global Energy Summit offers delegates the opportunity to mix live as well as sector-dedicated sessions with on-demand content via our inaugural Focus Week, from 4-8 October.

Inaugural Focus Week offers new opportunities

Focus Week allows delegates to take a deeper dive into their specific areas of interest. Access to the Focus Week is included in all event tickets, and will include:

  • Five individual live sessions across the week of 4-8 October (one per day, per region)
  • On-demand access to all live session recordings (all global content included)
  • Access to exclusively released event content via your own event library, for you to consume at your own pace

Each day has a specific focus:

  • 4 October – From Oil to Energy: strategies for the transition
  • 5 October – Now or Never: getting gas and LNG ready for net zero​
  • 6 October – The Energy Transition: start of the hardest chapter​
  • 7 October – ​Upstream Oil and Gas: Record Cash Flows and Peak Uncertainty
  • 8 October – The Metals Supercycle: a windfall for all or just the few?​

To reserve your place at Wood Mackenzie’s Global Energy Summit and Focus Week, or for further information, please follow this link.


About Wood Mackenzie:
Wood Mackenzie, a Verisk Analytics business, is a trusted source of commercial intelligence for the world’s natural resources sector. We empower clients to make better strategic decisions, providing objective analysis and advice on assets, companies and markets. For more information, visit: or follow us on Twitter @WoodMackenzie

WOOD MACKENZIE is a trademark of Wood Mackenzie Limited and is the subject of trademark registrations and/or applications in the European Community, the USA and other countries around the world.

About Verisk
Verisk (Nasdaq:VRSK) provides predictive analytics and decision support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more:, LinkedIn, Twitter, Facebook and YouTube.

For further speaking and programme enquiries, please contact Wood Mackenzie’s Events team: 
Julie Mayeras
+44 79 6648 0484
Katie Flynn
+1 346 998 9535

Media enquiries: 
Anthea Pitt 
+44 330 124 9436 

Ann Lee
+65 6518 0823

Philips completes sale of Domestic Appliances business to global investment firm Hillhouse Investment

September 2, 2021

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA), a global leader in health technology, today announced that it has completed the sale of the Domestic Appliances business to Hillhouse Investment, a global investment firm. The results of this transaction, which Philips announced on March 25, 2021, will be reported under discontinued operations in the third quarter of 2021. Philips received cash proceeds after tax and transaction-related costs of approximately EUR 3 billion.

The transaction values Domestic Appliances, a global leader with EUR 2.2 billion sales in 2020 in kitchen, coffee, garment care and home care appliances, at an enterprise value of approximately EUR 3.7 billion. The total deal value amounts to approximately EUR 4.4 billion resulting from an additional 15-year brand license agreement with annual payments that represent an estimated net present value of approximately EUR 0.7 billion.

“I am pleased that in line with our plans we have completed this transaction and concluded our major divestments,” said Frans van Houten, CEO of Royal Philips. “I am confident that the Domestic Appliances business will be able to expand on its market leadership with the support of Hillhouse Investment. In the past 12 months, Philips has further strengthened its portfolio with the launch of new products and solutions, as well as the acquisitions of Intact Vascular in image guided therapy, and BioTelemetry and Capsule Technologies in connected care. We are executing on our strategy to deliver integrated solutions that support professional healthcare customers achieve the Quadruple Aim and consumers with their health.”

“We are in a great position to continue bringing meaningful innovations to the consumer’s home in areas such as kitchen, coffee, garment care and home care appliances,” said Henk de Jong, CEO of Domestic Appliances. “We look forward to embark on this new partnership with Hillhouse Investment, building on our longstanding consumer, customer and partner relationships, as well as our market leading positions across our portfolio and the brand license partnership with Philips.”

Following the sale of Domestic Appliances, Philips’ EUR 3.2 billion Personal Health businesses will continue to shape its important role in the company’s integrated health continuum approach through products and solutions that support healthy living and prevention of diseases. Philips is a global leader in oral healthcare, personal care and mother & child care, areas that are essential building blocks of consumer health.

For further information, please contact:

Ben Zwirs
Philips Global Press Office
Tel.: +31 6 15213446

Derya Guzel
Philips Investor Relations
Tel.: +31 20 59 77055

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2020 sales of EUR 17.3 billion and employs approximately 77,000 employees with sales and services in more than 100 countries. News about Philips can be found at

Forward-looking statements
This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.


Orphalan announces FDA acceptance for filing of New Drug Application (NDA) for trientine tetrahydrochloride (TETA 4HCl) for the treatment of Wilson’s Disease

Orphalan announces FDA acceptance for filing of New Drug Application (NDA) for trientine tetrahydrochloride (TETA 4HCl) for the treatment of Wilson’s Disease

NDA supported by positive data from Phase 3 CHELATE clinical trial

 TETA 4-HCl previously granted Orphan Drug Designation for first-line treatment of Wilson’s Disease

Paris, France – 2 September 2021 – Orphalan SA, a Company that identifies, develops and delivers worldwide therapies for orphan diseases, today announces that the US Food and Drug Administration (FDA) has accepted for review the Company’s New Drug Application (NDA) for trientine tetrahydrochloride (TETA 4HCl) for the first-line treatment of Wilson’s Disease.

Wilson’s Disease is a rare inherited disorder of copper transport primarily affecting the liver and brain, affecting about 1 in every 30,000 people worldwide. TETA 4HCl is proposed as an alternative copper chelating agent to d-Penicillamine, the only approved first-line treatment of Wilson’s Disease for the last 70 years, to which about a third of patients develop intolerance.

The Company’s NDA submission follows its previous Orphan Drug Designation by the FDA. The filing is based upon positive data from the CHELATE Phase 3 clinical trial that met its primary efficacy endpoint by demonstrating that TETA 4HCl was non-inferior to d-Penicillamine as measured by copper speciation evaluation of non-ceruloplasmin copper (NCC).

Treatment with TETA 4HCl is supported by Orphalan’s novel NCC assay, for which the Company plans to file for FDA approval as a companion diagnostic. The in vitro NCC assay has the potential to provide an important additional tool to support physicians in identifying patients and monitoring their treatment with TETA 4HCl.

Dr Naseem Amin, Chief Executive Officer at Orphalan, commented: The FDA’s acceptance of the NDA brings us one step closer to providing firstline treatment to patients with Wilson’s Disease, who currently do not benefit from alternative methods of treatment, beyond D-Penicillamine .

Notes to Editors

About the CHELATE Study

CHELATE was a Phase 3, multicentre, randomised, open label, active-controlled, non-inferiority study conducted in 9 countries at 15 centres designed to evaluate efficacy and safety of trientine tetrahydrochloride compared to d-Penicillamine in patients with stable Wilson’s Disease. Fifty-three adult Wilson’s Disease patients with clinically stable disease for over one year and who met specific inclusion criteria, including laboratory measures of serum non-ceruloplasmin copper (NCC), 24-hour urinary copper excretion (UCE) and liver function tests, were followed for a baseline period for 12 weeks before being randomised 1:1 to either trientine tetrahydrochloride or d-Penicillamine twice daily. The study’s primary endpoint was serum NCC as measured using Orphalan’s proprietary method using copper speciation at 24-weeks post-randomisation. A secondary composite efficacy endpoint was NCC and 24-hour UCE.

Additional secondary endpoints included were: clinical Global Impression of Change (CGIC) score; serum copper and ceruloplasmin levels; the unified Wilson’s Disease Rating Scale (UWDRS); modified Nazer score; cognitive assessments and standard safety assessments. In addition, an independent adjudication committee blinded to the allocated treatment, and study centres assessed key efficacy and safety parameters to determine clinical stability of the patient. Trientine tetrahydrochloride was well tolerated and during treatment, more patients achieved the pre-specified composite endpoint of NCC and 24-hour Urinary Copper Excretion (UCE) within therapeutic target ranges, compared to patients treated with d-Penicillamine, 50% versus 24%. Data from the trial was presented during an oral presentation at EASL’s The International Liver Congress™ 2021.

About Orphalan
At Orphalan, our mission is clear: we are pioneers in orphan diseases. Orphalan identifies, develops and delivers worldwide innovative therapies for people living with Orphan diseases. Orphalan was founded in 2011 and has launched Cuprior™ across Europe with its own commercial organisation. For more information, visit and follow us on LinkedIn.

For more information, please contact

Tel: +33 (0)1 42 49 82 64

Consilium Strategic Communications: 
Mary-Jane Elliott, Allison Connolly, Genevieve Wilson
Tel: +44 (0) 203 709 5700

In First Summit with International Business & Government Leaders, Essential Workers to Discuss Framework for Just COVID-19 Recovery

Sophia Bush, Martin Sheen, and Yalitza Aparicio Martínez to Join ILO Director Guy Ryder, Brid Gould of Sodexo, Saadia Zahidi of the World Economic Forum, and Sharan Burrow of ITUC on Stage with Workers

Worldwide, Sept. 01, 2021 (GLOBE NEWSWIRE) — Essential workers from North and South America, Europe, Africa and Asia will meet with global business and government leaders to discuss a framework for a just economic recovery from the COVID-19 pandemic in the first global summit of its kind Sept. 8-10.

Days before world representatives gather for the United Nations General Assembly, the Essential for Recovery Summit will center the demands of care workers and the 61% of workers worldwide who work in the informal economy, including domestic workers, agricultural workers, street vendors, and home-based workers.

“Essential workers deserve more than our praise. They deserve our action. They have taken care of us—and ensured that others were fed and cared for—at great risk and cost to their lives, and now world leaders must take action to make sure it’s not just the privileged or well-connected who get to recover,” said Sophia Bush, a prominent American actress and social activist working to protect and advance women’s and girls’ rights globally, who will serve as the host of the event.

Despite the life-threatening disparities exposed by the COVID-19 pandemic, workers around the world continue to fight for their rights in the workplace: far too many workers continue to endure limited access to healthcare, lack of social protections, dangerous work conditions including exposure to COVID-19, and frequent harassment and violence while working.

In conversations with cultural influencers like Martin Sheen and Yalitza Aparicio Martínez, and powerhouse leaders of worker movements like Ai-jen Poo in the U.S., Myrtle Witbooi in South Africa, and Carmen Britez in Argentina, essential workers will discuss the necessity for an ambitious social contract that puts the wellbeing of workers at the heart of government spending and corporate behavior, rather than piecemeal interventions or austerity measures similar to those that followed the collapse of financial markets in 2008.

About Essential For Recovery:

The Essential for Recovery Summit is led by non-profit labor organizations — including HomeNet International, International Domestic Workers’ Federation, International Trade Union Confederation, Solidarity Center, StreetNet International, UNI Global Union, and Women in Informal Employment: Globalizing and Organizing — and supported by the Open Society Foundations.

Office of Communications
Open Society Foundations 

Publication relating to transparency notifications



Publication relating to transparency notifications

Mont-Saint-Guibert (Belgium), September 1, 2021, 10.30pm CET / 4.30pm ET – In accordance with article 14 of the Act of 2 May 2007 on the disclosure of large shareholdings, Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) announces that it received two transparency notifications as detailed below.

Robelga SRL / Robert Taub

On August 27, 2021, Nyxoah received a transparency notification from Robelga SRL following the passive downward crossing by Robelga SRL of the 3% threshold on July 7, 2021. As of such date, Robelga SRL held 696,000 shares, representing 2.78% of the total number of voting rights on July 7, 2021 (25,002,609).

The notification dated August 27, 2021 contains the following information:

    •  Reason for the notification: passive crossing of a threshold
    •  Notification by: a parent undertaking or a controlling person
    •  Persons subject to the notification requirement: Robelga SRL (with address at Avenue Blücher 63, 1180 Uccle), BMI Estate (with address at Avenue Blücher 63, 1180 Uccle) and Robert Taub
    •  Date on which the threshold was crossed: July 7, 2021
    •  Threshold that is crossed: 3%
    •  Denominator: 25,002,609
    •  Notified details:
A) Voting rights Previous notification After the transaction
# of voting rights # of voting rights % of voting rights
Holders of voting rights Linked to securities Not linked to the
Linked to securities Not linked to the
Robert Taub 2,121,470 2,121,470 8.48%
BMI Estate 0 0 0.00%
Robelga SRL 696,000 696,000 2.78%
Subtotal 2,817,470 2,817,470 11.27%
TOTAL 2,817,470 0 11.27% 0.00%
    •  Chain of controlled undertakings through which the holding is effectively held: Robelga SRL is 100% owned by BMI Estate (a partnership (société simple) without legal personality). Robert Taub has 100% usufruct and Robert Taub’s children have 100% bare ownership of BMI Estate.
    •  Additional information:

      1.     On 23 June 2021, MINV SA (former shareholder) was absorbed (merger by absorption) by Robelga SRL.

      2.     The participation of Robelga SRL passed below the 3% threshold. The participation of the group Robelga SRL and Robert Taub stays above the 10% threshold.

3.     BMI Estate is the new name of Romata (mistakenly referred to as “Ronata” in the previous transparency notification).

Together Partnership 

On August 27, 2021, Nyxoah received a transparency notification from Together Partnership following the passive downward crossing of the 10% threshold on July 9, 2021. As of such date, Together held 2,503,500 shares, representing 9.84% of the total number of voting rights on July 9, 2021 (25,437,859).

The notification dated August 27, 2021 contains the following information:

    •  Reason for the notification: passive crossing of a threshold
    •  Notification by: a person notifying alone
    •  Person subject to the notification requirement: Together Partnership (with address at Uitbreidingstraat 10-16, 2600 Berchem)
    •  Date on which the threshold was crossed: July 9, 2021
    •  Threshold that is crossed: 10%
    •  Denominator: 25,437,859
    •  Notified details:
A) Voting rights Previous notification After the transaction
# of voting rights # of voting rights % of voting rights
Holders of voting rights Linked to securities Not linked to the
Linked to securities Not linked to the
Together Partnership 2,503,500 2,503,500 9.84%
TOTAL 2,503,500   9.84%  
    •  Chain of controlled undertakings through which the holding is effectively held: Together Partnership is not a controlled entity.


*        *


Fabian Suarez, Chief Financial Officer
+32 10 22 24 55


IFC to drive nation to become Muslim fashion hub: Amin

Vice President KH Ma’ruf Amin echoed his support for the Indonesia Fashion Chamber (IFC) through the MUFEST Program that is expected to drive Indonesia to serve as center of Muslim fashion in the world.

“We expect MUFEST (Muslim Fashion Festival) to consistently become the largest strategic stage. Through MUFEST, the economy and sharia finance are expected to receive a boost from the fashion sector and proffer myriad benefits to the industries that follow it,” the Vice President noted in his statement as quoted on Thursday.

Amin opined that this aligned with Presidential Decree 28 of 2020 on the National Committee for Sharia Economics & Finance (KNEKS). Development of the Muslim fashion industry is a potential sector in making Indonesia a center for global Halal products.

Furthermore, he stressed the importance of various ministries collaborating in the national Muslim fashion industry development program.

Amin noted that the Cooperatives and Small and Medium Enterprises (SMEs) Ministry was among the ministries that was currently facilitating the fashion ecosystem, addressing issues of raw materials, micro loans (KUR) disbursement for MSME, mentoring, and focusing on market access and logistics aspects.

On the other hand, the Industry Ministry is activating halal industrial areas and halal zones, through efforts of the Trade Ministry that has opened export markets, among others, with Islamic countries in the Organization of Islamic Cooperation (OIC).

Amin also welcomed IFC’s idea to develop Indonesian Muslim fashion in the education sector by including fashion as part of the educational curriculum.

The vice president spoke of his intent to get in touch with the Association of Islamic Economists (IAEI), as a government support institution, to follow up on the notion.

“We will communicate this later with the IAEI, so that what we have been working on so far (rebuilding the economy) will not only be implemented by experts in the financial sector but also in the fashion sector. I totally agree,” he affirmed.

Indonesia is targeted as a center for halal products and the world’s sharia economy by 2024.

Development of the halal industry in various sectors is deemed necessary, including the Muslim fashion sector, which has presented greater opportunities in global and domestic markets. Hence, the government encourages the national Muslim fashion industry to become the best.

Various strategic and consistent integrated promotional efforts are deemed necessary in order to help Indonesia become a center for Muslim fashion in the world.

The IFC remains committed to making these efforts through tangible and sustainable programs that will advance the Indonesian Muslim fashion industry and add competitive value in the international market. To this end, MUFEST is one of the efforts being made.

“The support of human resources, research, and business as well as ethical reasoning in the business world have driven demand for the world market today. To this end, the Islamic economy becomes a relevant foundation for the Indonesian Muslim fashion industry ecosystem. Muslim fashion is one of the sustainable products or halal fashion with global potential,” IFC National Chairman Ali Charisma affirmed.

“We hope to also expand Indonesian education by perhaps providing a curriculum that is specifically for modest fashion in educational institutions that have fashion majors. We believe that the foundation is very important for success,” Charisma concluded.

Source: Antara News