July-August 2022 |
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@ HalalXtra |
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COVER STORY
Halal presents tremendous business opportunities globally …
Global Islamic Economy
CAGR 7.5 %
USD5.6 Trillion
USD7.7 Trillion
2021 * 2025 *
* Encompasses Islamic finance , food & beverage , media & recreation , modest fashion , cosmetics , pharmaceuticals and Muslim- friendly travel .
( Source : State of the Global Islamic Economy Report 2021 / 22 by Dinar Standard )
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Malaysia leads .
Malaysia ’ s halal industry sees positive growth in terms of demand and exports
trade events . When asked how MIHAS 2022 can strengthen Malaysia ’ s position in the halal economy , Remee highlighted Malaysia ’ s comprehensive halal ecosystem .
This ecosystem includes the internationally recognised halal certification system , the halal industry master plan , adequate halal standards and the support system offered by MATRADE to support halal-certified companies to expand their market abroad .
“ Now we are on the 18th edition of MIHAS . Over the years , as we expanded the footprint of MIHAS worldwide , the event has been
“ MIHAS 2022 is basically to continue the momentum of recovery . This year , the normalisation of how we can physically interact allows us to hold the event in a physical format . On top of that , to continue the momentum of digitalisation of the halal industry , we are organising MIHAS 2022 this year on a hybrid format .”
— Remee Yaakub
Food & Beverages
MALAYSIA ’ S HALAL EXPORTS TO THE WORLD
Halal Export Value by Product Category In 2021
RM17.6 Billion
Palm Oil Derivatives
RM1.7 Billion
Halal Ingredients
RM13.5 Billion
Industrial Chemicals
RM0.7 Billion
Cosmetics & Personal Care
RM2.4 Billion
Pharmaceutical products
RM0.3 Billion
Malaysia ' s halal exports to the world .
recognised as the world ’ s largest halal trade fair . With the aspiration to grow MIHAS further and looking at the expansion of the global halal industry , we always believe that there is potential synergy that we can build with the other halal events to tap into the tremendous potential of the global halal industry ,” shared Remee .
“ For MIHAS 2022 , we are targeting a total of RM1.9 billion worth of sales , particularly contributed by the exhibition and INSP components . Thus far , the preparations are ongoing and pro-
RM Billion
50.00 40.00 30.00 20.00 10.00 0.00
Rank 1
2
3
Malaysia ’ s Halal Export Performance 2016-2021
43.30
40.00 40.60
Top 5 Export Destinations in 2021
China RM4.6 Billion
Singapore RM3.7 Billion
Japan RM2.0 Billion
Rank 4
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30.50
36.30
2017 2018 2019 2020 2021 Year
United States RM1.80 Billion
Indonesia RM1.8 Billion
Source : Halal Development Corporation Berhad ( HDC )
gressing well . From the perspective of the exhibition , we are glad to see that the number of participants who have registered their interest to participate is already above 1,000 .
“ We have over 25 countries which have confirmed participation . In the case of INSP , the number of physical foreign buyers recruited by our trade offices overseas is beyond our targets .
“ This is encouraging , and we ’ re confident of recording the targeted RM1.9 billion of sales this year .” – Halal Xtra
ENHANCING
THE VISIBILITY OF HALAL GLOBALLY
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AS IT strengthens its position as a leading halal economy , Malaysia sees the growth of many halal small and medium enterprises ( SMEs ), products and services . However , more work needs to be done to make them visible globally .
According to Remee Yaakub , Director of Halal , Food & Beverages ( F & B ) and Agro-based Section , Malaysia External Trade Development Corporation ( MATRADE ), the agency takes the lead in the internalisation of these halal products and services .
“ Being Malaysia ’ s national trade promotion agency , MATRADE looks at every possible way to provide and create significant opportunities for Malaysian companies to tap into the vast
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possibilities of the global halal industry .
“ We do this regularly , within the ambit of the four core functions of MATRADE . We are , for example , organising the flagship event , the Malaysia International Halal Showcase ( MIHAS ). We will
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continue positioning MIHAS as the ideal platform for Malaysian companies to promote their products and services .
“ At the same time , from the perspective of F & B products which we consider halal-certified , we participate in major international trade fairs abroad to continue positioning our companies and offering the chance for them to explore and tap into the opportunities that are available abroad .”
MATRADE also offers financial assistance programmes such as Market Development Grant , eTrade and Services Export Fund to support companies in carrying out their export promotional activities and reduce the cost of undertaking such activities .
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