@Halal July/August 2020 | Page 11

July-august. 2020 | @Halal Cover Story 11 ecosystem through an integrated platform and building a global halal community. “Malaysia now exemplifies a country that supports the growth of the global halal ecosystem that includes standards and regulations, infrastructures, incentives, logistics and human capital development, supported by effective frameworks from the related government institutions. “We are now the reference point or benchmark for others when setting up halal markets. “We are setting up our platform where we will have government agencies, banks transport companies and payment gateway companies on the platform. “Entrepreneurs who wish to step onto the platform can be assisted by SIRIM which will help with packaging. SME Corporation can provide grants and also have the products placed onto the platform for the halal marketplace,” he added. The platform not only uncovers opportunities for local Small and Medium-sized Enterprises (SMEs) to market their products globally, but it also aims to assist manufacturers to get their products a halal certification. “What HDC is trying to do is to increase the export market by getting products and businesses halal-certified,” said Mahmud. Any local products placed onto the platform will be rated in such a way that deemed halal products will be assessed a one-star, whereby certified halal products will be assessed a three-star. HDC’s role in the system is to help the one-star product manufacturers build up their products to obtain a three-star rating. “We are also certifying restaurants and stores in Japan as Muslim-friendly stores, but to do so, they will need halal products. “They can do this by becoming members of the platform and source the halal products from there,” he said. According to Mahmud, a JAKIM-certified halal product will be unquestionable as it conforms to the standards of halal, it conforms to the good manufacturing practice, and it is healthy. Everything is done in conformity to the halal standards. The idea of having a platform where it provides more structured offerings such as a Halal Integrated Platform, Halal Consultancy, Halal Training, and halal perks for manufacturers is because HDC hopes there will be more halal-certified companies in future. THE Halal INDustRY’S CONTRIBUTION TOWARDS OVERALL GDP MALAYSIAN HALAL MARKET 2030 US$85.2 Bil bil 2030 US$113.2 bil CORE SECTORS 2030 US$5.9 Bil bil MALAYSIAN HALAL MARKET 2018 US$68.4 bil 2030 US$10.5 Bil bil Food & Cosmetic & Beverage 2018 personal 2018 US$51.9 bil Bil care US$7.0 Bil bil Pharmaceutical 2030 US$11.7 Bil bil 2018 US$3.4 bil Bil Others 1 2018 US$6.29 bil Bil Notes: Based on the proportion consumption of the total halal market by the Muslim population 1 Includes relevant/ emerging sectors (e.g. modest fashion, medical devices, medical tourism) GDP Indicators 2018 2020 2025 2030 Phase 1a Phase 1b Phase 2 Cumulative HALMAS Investment RM13.9 bil RM15.3 bil RM19.6 bil RM25.0 bil Value Add Phase 1a Phase 1b Phase 2 Value to consumers (Gross output less inputs, “economic profit”) RM 59.7bil RM 76 bil RM 126 bil RM 171 bil Halal Export Phase 1a Phase 1b Phase 2 Value of exports RM40 bil RM46 bil RM56 bil RM70 bil Productivity Indicators 2018 2020 2025 2030 Revenue Phase 1a Phase 1b Phase 2 “Gross output” (industry revenue) earned by halal businesses RM275 bil RM335 bil RM497 bil RM684 bil Employees Phase 1a Phase 1b Phase 2 Number of employees in the industry 0.35 Mil 0.41 mil 0.56 mil 0.71 mil