Malaysia (Commonwealth _ Malaysia’s halal exports would virtually reach RM60 billion (RM59.46 billion)) in 2023, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, a phenomenal 64% increase over 2021.
Despite global economic concerns, the development clearly demonstrates the halal industry’s durability in contributing to the country’s economic prosperity. “We are confident that we will meet our halal export target.” The worldwide halal business is expected to be worth $5 trillion by 2030, according to Prime Minister Datuk Seri Anwar Ibrahim.
The Halal Industry Master Plan 2030 (HIMP 2030) includes this goal. The market share is quite large, so we will be given a larger objective for this year by Matrade chairman, he said at a press conference at the Global Halal Summit 2023 (GHaS) here today.
Tengku Zafrul stated that the ministry will continue to develop the Halal industry in accordance with the 12th Malaysia Plan. The ministry will also have the New Industrial Master Plan 2030 (NIMP2030) to improve the halal industry’s economic complexity and competitiveness by integrating technology and ESG/sustainability concepts.
In terms of human capital development, the Halal Development Corporation Berhad (HDC) has provided a variety of training programs that are updated on a regular basis with regard to industry demands and market trends.
This ensures that the personnel is well-versed in the subject of halal. This is critical in propelling the halal industry and the national economy forward. “To that end, this year’s GHaS features a Halal Professional Seminar in line with the HIMP 2030 agenda, which aims to create 700,000 job opportunities,” he explained.
Another important component of GHaS is the Malaysia International Halal Showcase (MIHAS), which has been running since 2004 and is the world’s largest exhibition platform for halal products and services. MIHAS has continued to receive global support, with over 40 countries participating both physically and digitally.
This year’s MIHAS incorporated the concept of the circular economy for the first time, emphasizing the concepts of reuse, recycle, and remanufacturing. According to Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, the Halal Development Corporation Berhad (HDC) must engage with the Ministry of Foreign Affairs to spearhead the agenda of halal diplomacy in order to bring Malaysia’s halal brand abroad.
This innovative halal diplomacy concept, led by HDC, has the potential to set worldwide gold standards for halal by facilitating halal services across borders, fostering technology and research cooperation, and assuring a seamless halal verification process.
We can therefore create a robust and sustainable global halal economy. We can also retain Malaysia’s top halal status by internalizing our halal ecosystem, he added in his speech at the World Halal Excellence Awards 2022, which HDC hosted here tonight.
HDC is an organization within the Ministry of Investment, Trade, and Industry that serves as the chief coordinator for promoting and facilitating the growth of industry participants in Malaysia’s halal ecosystem.
Ahmad Zahid underlined the government’s desire to In light of this, he believes HDC should not only focus on tangible halal products or services, but also take use of the chance to export halal knowledge through Malaysia’s halal diplomacy.
The government, according to Ahmad Zahid, wants to make Malaysia a global leader in the halal economy, as the halal industry is expected to increase from US$3 trillion in 2018 to US$5 trillion by 2030. Our administration recognizes this, which is why we have launched steps to increase the capability and competitiveness of the business, he said, adding that the government had developed the Halal business Master Plan 2030 to promote the country’s economic development.
This master plan has lofty goals. We want the industry to grow to US$113 billion by 2030, contributing 8% to our GDP by 2025, and providing over 350,000 high-quality jobs, he added.
