Malaysia To Boost Infrastructure and Tech for Halal Hub Growth

At a recent conference in Putrajaya, Malaysia’s Deputy Prime Minister, Datuk Seri Fadillah Yusof, emphasized the nation’s need for robust development in various sectors to establish itself as a leading halal economic hub. In his keynote at the International Conference On Islamic and Halal Economic Studies (ICIHES) 2023, Fadillah highlighted the significance of enhancing infrastructure, research, education, and technology, coupled with global partnerships, to tap into the halal industry’s enormous potential. Catering to a rapidly growing Muslim consumer base, he underscored the industry’s global market, projected to soar from US$3.1 trillion to US$5 trillion by 2030.

Fadillah stressed that the halal market’s expansion isn’t confined to Muslim-majority countries but extends to Muslim-minority countries with growing Muslim communities. He pointed out the rising interest in halal products among non-Muslims as well, driven by their quality and safety standards. As the Plantation and Commodities Minister, he also spoke about Malaysia’s long-standing goal to be a global halal production and distribution hub, with a focus on Islamic banking and financial services.

Highlighting Malaysia’s strategic advantages in the halal sector, Fadillah mentioned its solid regulatory framework, comprehensive ecosystem including halal laboratories, certification, and training facilities. He also noted the global recognition of Malaysia’s halal standards, particularly with the establishment of the first Islamic bank in 1983 and the country’s pioneering role in halal-compliant standards and certification.

The conference, a collaborative effort by various organizations, including the Legacy Association of Tun Abdullah Ahmad Badawi, Hadhari Global Foundation, and others, served as a vital platform for discussions aimed at empowering the halal economy and strengthening global Muslim communities.