Malaysia able to maintain leadership position in Halal products and services - Tengku Zafrul - MIDA | Malaysian Investment Development Authority
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Malaysia able to maintain leadership position in Halal products and services – Tengku Zafrul

Malaysia able to maintain leadership position in Halal products and services – Tengku Zafrul

28 Mar 2023

Malaysia could maintain its leadership position in halal products and services that meet the highest quality standards as Malaysia has the right ecosystem and strategy to capture more global halal business.

International Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz is confident that with the Halal Industry Master Plan 2030 (HIMP 2030), the Ministry of International Trade and Industry’s (MITI) vision in developing the industry and business-to-business (B2B) platforms like Malaysia International Halal Showcase (MIHAS), Malaysia could maintain the leadership position.

“Malaysia is known to be a leading supplier of a wide range of halal-certified products and services, namely food, cosmetics, pharmaceuticals, finance and tourism.

“To promote the growth of Malaysia’s halal economy, the government recently launched the HIMP 2030 which sets out clear action plans on how we can strategically capitalise on the growing global demand for halal products and services, as well as strengthen Malaysia’s leadership role by leveraging on our world-recognised halal industry ecosystem and cumulative expertise,” he said during his address at the MIHAS 2023 soft launch here today.

He said Malaysia has once again been ranked as the leading halal economy in the world for the 9th consecutive year and the HIMP 2030 will help cement Malaysia’s position as the undisputed global leader in the halal industry.

Through HIMP 2030, MITI is projecting that the halal industry will expand to US$113.2 billion by 2030, with a gross domestic product (GDP) contribution of 8.1 per cent by 2025.

“We are confident of achieving this because the government has invested heavily in enhancing the halal ecosystem, including promoting halal research and development (R&D), and nurturing the enabling infrastructure to support halal production and distribution,” he added.

Meanwhile, Tengku Zafrul said MIHAS, as a B2B platform that has grown from strength to strength, has also been established as one of the key drivers to build on the halal momentum by exploring new frontiers and untapped opportunities in the industry.

The 19th edition of MIHAS 2023 is hosted by MITI and organised by the Malaysia External Trade Development Corporation (MATRADE) and will be held over four days, from Sept 12-15, 2023 at the Malaysia International Trade and Exhibition Centre (MITEC).

Themed ‘Paving the Way of Halal’, the MIHAS 2023 edition will feature the latest halal trends, technologies and innovations across 13 clusters comprising food and beverages; modest fashion and lifestyle; cosmetics and personal care; and food technology and packaging, besides Islamic finance and fintech, media and recreation, retail and franchise, Muslim-friendly hospitality and tourism, pharmaceutical and medicals, services and enablers, education, e-Commerce, and Islamic arts and culture.

MIHAS 2023 is expected to be the largest post-pandemic as it is expected to attract over 35,000 local and international visitors, and 1,500 booths, targeting 40 country pavilions.

Source: Bernama