Malaysia’s Halal Exports Hit RM54 Billion in 2023

KUANTAN – Malaysia’s halal exports have surged to an impressive RM54 billion in 2023, as announced by Minister of Investment, Trade, and Industry Tengku Datuk Seri Zafrul Abdul Aziz. This milestone highlights the crucial role the halal industry plays in Malaysia’s economy. With the global halal market expected to reach USD 5 trillion by 2030, Malaysia is poised for continued growth and expansion. The country’s strategic initiatives and robust halal ecosystem are driving this upward trajectory, offering immense opportunities for businesses and contributing significantly to economic development.

Government Initiatives to Boost Halal Industry

The Malaysian government is steadfast in its commitment to nurturing the halal sector, with a particular focus on increasing the number of entrepreneurs producing halal-certified products. One of the key initiatives in this regard is the Jelajah Halal Malaysia (JHM) program, spearheaded by the Halal Development Corporation Bhd (HDC). Launched in 2022, the JHM program aims to provide micro, small, and medium enterprises (MSMEs) with the exposure and opportunities needed to penetrate both domestic and international halal markets.

To date, over 1,800 MSMEs have benefited from the JHM program, gaining invaluable insights and support to enhance their market presence. At a recent event in Paya Besar, Tengku Zafrul highlighted the success of the program, noting that 15 entrepreneurs had successfully placed their products in the Mydin Tunjong Hypermarket through a business matching session held in Kota Bahru, Kelantan.

Expanding Halal Certification in Pahang

Pahang’s halal sector is also experiencing growth, with 158 companies holding halal certification as of July 2024, according to the Department of Islamic Development Malaysia (JAKIM). Tengku Zafrul expressed confidence that the state government and the Pahang Islamic Religious and Malay Customs Council (MUIP) would continue to implement programs aimed at assisting food and beverage companies in obtaining halal certification. These efforts are crucial in elevating the standards and competitiveness of local businesses in the global halal market.

Supporting Local Economies through Halal Industry

The Ministry of Investment, Trade, and Industry (MITI) is dedicated to supporting local economies, particularly through the development of the halal industry. Tengku Zafrul acknowledged the potential of various locations to contribute to economic growth and affirmed MITI’s readiness to provide the necessary services to enhance the local economy.

HDC Chairman Khairul Azwan emphasized the importance of the JHM program in preparing entrepreneurs to expand their businesses and reach global markets. He highlighted that the Paya Besar event was the first JHM event of the year, with subsequent events planned for Sabah and Penang later in the year. The JHM program serves as a platform for local MSMEs to acquire the knowledge and skills needed to scale their operations and compete internationally.

With over 200 participants attending the JHM@Paya Besar event, local entrepreneurs were provided with the latest information on opportunities within the halal industry. They received support in areas such as Islamic banking, takaful products, halal certification, and development training. This comprehensive approach aims to equip businesses with the tools necessary for success in the rapidly expanding halal market.

The surge in Malaysia’s halal exports to RM54 billion in 2023 underscores the country’s strategic initiatives and the significant potential of the halal industry to drive economic growth. By continuously enhancing its halal ecosystem, Malaysia is on track to becoming a global leader in the halal market. This progress offers vast opportunities for businesses, fostering innovation and contributing to the nation’s economic development. As Malaysia leverages its robust infrastructure and international collaborations, it stands poised to further capitalize on the booming global halal market, ensuring sustained economic benefits and growth.