Halal Industry More Comprehensive, Can Complement Islamic Economy — PM Anwar

The halal industry has emerged as a vital force in the global economy, closely interlinked with the Islamic economy and catering to the needs of diverse communities. During the opening ceremony of the Malaysia International Halal Showcase (MIHAS) 2024, Prime Minister Datuk Seri Anwar Ibrahim emphasized the importance of the halal industry and how its expansion is crucial for the broader Islamic economy. He described the halal industry as inclusive and comprehensive, with the potential to make a significant positive impact not only on Muslims but also on the global community.

Halal Industry Expansion: Industry Benefiting Diverse Sectors

Prime Minister Anwar pointed out that the halal industry engages with a wide range of economic sectors, including farmers, fishermen, small and medium-sized enterprises (SMEs), microbusinesses, and retailers. This broad reach allows the halal industry to provide opportunities to all segments of society, ensuring a more equitable distribution of wealth and resources.

“In the pursuit of the MADANI Economy and alignment with the principles of Maqasid Shariah (objectives of Islamic law), it is essential that the halal industry involves nearly the entire population,” Anwar said in his keynote address. He emphasized the importance of making the halal industry an inclusive force that touches every level of society, promoting economic participation for people of all backgrounds.

The halal industry’s ability to engage multiple sectors of the economy, from agriculture to manufacturing and services, makes it a powerful tool for fostering sustainable development. The growth of the halal industry is closely tied to the principles of Islamic finance, which promotes ethical business practices, transparency, and fairness in trade. By adhering to these principles, the halal industry has expanded to include not just food production but also cosmetics, pharmaceuticals, logistics, and even Islamic finance. This expansion has transformed it into a holistic economic ecosystem that serves both Muslim and non-Muslim consumers worldwide.

Growing Global Interest in Halal Industry Expansion

In his address, Prime Minister Anwar expressed his appreciation for the support of foreign leaders, who have shown strong interest in Malaysia’s efforts to promote the halal industry. He noted that several countries he visited recently have recognized Malaysia’s leadership in halal certification and innovation, and they are eager to collaborate with the Malaysian government to promote trade and investment in the halal sector.

This growing global interest in the halal industry is part of a broader trend in which governments and businesses around the world are recognizing the value of halal products and services. The halal market is no longer limited to Muslim-majority countries; it has become a significant sector in non-Muslim markets as well. According to the latest market research, the global halal market is projected to reach USD 4.96 trillion by 2030, reflecting a robust demand for halal-certified products across diverse industries.

The increasing global demand for halal products presents significant opportunities for Malaysia to strengthen its position as a global leader in the halal sector. Malaysia’s halal certification standards are regarded as some of the most stringent and credible in the world, making Malaysian halal products highly sought after in international markets. By collaborating with other countries, Malaysia can help expand the halal supply chain, ensuring that halal products are readily available to consumers worldwide.

Anwar emphasized that international partnerships are key to expanding the halal industry and promoting its growth. He pointed out that Malaysia’s leadership in halal certification and standards gives it a competitive edge in the global marketplace. Countries around the world are eager to partner with Malaysia to benefit from its expertise in halal certification and to gain access to the rapidly growing global halal market.

Halal Industry Expansion: Malaysia’s Remarkable Achievement

During the launch of MIHAS 2024, Anwar praised the efforts of the Malaysia External Trade Development Corporation (MATRADE) and the Malaysian government for their work in promoting the growth of the halal industry. He described the expansion of the halal sector as a remarkable achievement that showcases Malaysia’s leadership in halal innovation and certification.

“This is an extraordinary accomplishment that highlights not only the importance of halal practices across various sectors but also the reasons why Islam places such emphasis on them,” Anwar said. He noted that the halal industry’s reach extends far beyond food products to include cosmetics, pharmaceuticals, and other consumer goods. The growing global demand for halal products is a testament to the industry’s ability to cater to the needs of a diverse range of consumers, both Muslim and non-Muslim.

MATRADE has played a pivotal role in the halal industry’s expansion by organizing events such as MIHAS, which provides a platform for halal businesses to showcase their products and services to a global audience. The event has grown into the world’s largest halal trade fair, attracting exhibitors and visitors from around the world. This year’s MIHAS, themed ‘Globalising Halal Innovations,’ features more than 1,800 exhibitors from over 40 countries, highlighting the international appeal of halal products.

Recognizing Leaders Who Have Paved the Way

At MIHAS 2024, Prime Minister Anwar presented the Special National Halal Development Excellence Award to former Prime Minister Tun Abdullah Ahmad Badawi in recognition of his contributions to the halal industry. The award was accepted by his son, Tan Sri Kamaluddin Abdullah, on his behalf.

Tun Abdullah was chosen as the first recipient of this prestigious award for his pioneering efforts in advancing Malaysia’s halal industry. During his tenure as Prime Minister, two major milestones in the development of the halal sector took place: the establishment of the Halal Development Corporation (HDC) in 2006 and the inaugural MIHAS in 2004. These initiatives laid the foundation for Malaysia’s leadership in the global halal industry, which continues to grow and expand today.

The award recognizes the critical role that leaders like Tun Abdullah have played in shaping the halal industry into a global force. By establishing the HDC and launching MIHAS, Tun Abdullah helped to create a robust infrastructure for the halal industry, enabling it to thrive and expand both domestically and internationally.

MIHAS 2024: Showcasing Halal Innovation on a Global Scale

The Malaysia International Halal Showcase (MIHAS) 2024, co-organized by MATRADE and the Ministry of Investment, Trade, and Industry (MITI), serves as a global platform for halal businesses to connect with international buyers, investors, and policymakers. The event runs from September 17 to September 20 and features a wide range of halal products and services, from food and beverages to cosmetics, fashion, and pharmaceuticals.

The theme of MIHAS 2024, ‘Globalising Halal Innovations,’ reflects the event’s focus on showcasing cutting-edge halal products and services that are driving the industry’s expansion. Exhibitors from around the world have gathered in Kuala Lumpur to display their latest innovations and connect with potential business partners.

The halal industry’s expansion has been driven by a combination of factors, including rising consumer demand for halal-certified products, advancements in halal certification standards, and the increasing recognition of halal products as a symbol of quality and safety. As more consumers become aware of the benefits of halal products, the industry is poised for continued growth.

The Future of Halal Industry Expansion

The halal industry’s growth is not only transforming the global Islamic economy but also contributing to economic inclusivity and sustainable development. By promoting ethical business practices and ensuring that products meet the highest standards of safety and quality, the halal industry is setting a new benchmark for consumer goods.

Looking ahead, the expansion of the halal industry presents significant opportunities for countries around the world to participate in the global halal market. With Malaysia leading the way, the halal industry is poised to become an even more important driver of economic growth in the years to come.

As MIHAS 2024 continues to highlight the latest innovations in the halal sector, the future of the halal industry looks bright. The global demand for halal products is on the rise, and Malaysia’s leadership in halal certification and innovation ensures that it will remain at the forefront of this dynamic and rapidly growing industry.