The Malaysia International Halal Showcase (Mihas 2023) has once again reinforced its status as the cornerstone event for the global halal industry. This year’s showcase, inaugurated by Prime Minister Datuk Seri Anwar Ibrahim, represents the 19th iteration of this prestigious event. Mihas 2023 Halal takes a bold and innovative approach, breaking free from the traditional confines of trade exhibitions and expanding its reach to encompass a wide array of sectors within the halal economy. As a result, it serves not only as a showcase for halal products but also as a dynamic platform for fostering collaboration, innovation, and growth on a global scale.
MIHAS 2023 Halal: A New Era of Inclusivity
In a significant departure from previous years, Mihas 2023 Halal has broadened its scope to include strategic partnerships with a diverse range of stakeholders. The Malaysia External Trade Development Corporation (Matrade), the organization behind this event, has placed a strong emphasis on inclusivity this year, particularly focusing on empowering local micro, small, and medium enterprises (MSMEs). This strategic shift is aimed at integrating these enterprises more deeply into the global halal economy, providing them with unprecedented opportunities to connect with international markets and expand their reach.
Datuk Mohd Mustafa Abdul Aziz, CEO of Matrade, highlighted that this year’s Mihas showcases participation from 34 government entities, reflecting the broad support and recognition that the event has garnered. This collaboration between government bodies and the private sector is a testament to the Malaysian government’s commitment to promoting the halal industry as a key driver of economic growth. By fostering a more inclusive environment, Mihas 2023 Halal ensures that even the smallest businesses have a seat at the table, contributing to a more diverse and resilient halal economy.
Expanding Horizons
One of the most notable features of Mihas 2023 Halal is its diversified focus. Traditionally, the halal industry has been closely associated with the food and beverage sector. However, this year’s event goes beyond this narrow focus to highlight the vast potential of the halal market across various industries. Mihas 2023 Halal has curated 13 distinct clusters that encompass a wide range of sectors, including food technology, pharmaceuticals, education, modest fashion, fintech, and Islamic arts and crafts.
This diversification is not just a reflection of the evolving global halal market but also a strategic move to position Malaysia as a leader in the broader halal economy. The inclusion of non-food sectors at Mihas 2023 underscores the country’s commitment to promoting halal as a holistic lifestyle choice, encompassing every aspect of daily life. This broader focus is likely to attract a more diverse group of participants and visitors, further enhancing the event’s global appeal.
The Rising Importance of Modest Fashion
Among the new sectors highlighted at Mihas 2023 Halal, modest fashion and fintech stand out as particularly significant. The global modest fashion industry has been growing rapidly, with an estimated market value of $277 billion as of 2023. This sector, which includes clothing that adheres to Islamic principles of modesty, has attracted significant interest from both consumers and businesses worldwide. At Mihas 2023, modest fashion is not just a niche segment but a major focus, with numerous exhibitors showcasing the latest trends and innovations in this fast-growing industry.
Similarly, the fintech sector has seen a surge in interest within the halal economy. Islamic fintech, which adheres to Shariah principles, is emerging as a key player in the broader financial landscape. At Mihas 2023, the fintech cluster offers a glimpse into the future of Islamic finance, with exhibitors presenting cutting-edge solutions that cater to the unique needs of Muslim consumers. This focus on fintech is particularly timely, given the increasing demand for digital financial services that align with Islamic values.
International Sourcing Program
Mihas 2023 Halal is not just a showcase of products and services; it is also a powerful engine for connecting Malaysian exporters with global markets. One of the key initiatives driving this connection is the International Sourcing Program, which plays a central role in facilitating business relationships between Malaysian exporters and international buyers. This program has been meticulously designed to foster symbiotic business relationships that can drive mutual growth and open up new opportunities for all parties involved.
This year, the International Sourcing Program has attracted nearly 500 global buyers, who will engage with 822 Malaysian exporters through both physical and virtual business meetings. These interactions are expected to result in a significant number of deals, providing Malaysian businesses with access to new markets and helping international buyers source high-quality halal products. The virtual component of the program is particularly noteworthy, as it reflects the ongoing shift towards digitalization in global trade, enabling businesses to connect and collaborate across borders more easily.
Among the international buyers are 11 premium buyers from countries such as Australia and the United Kingdom. These buyers represent major conglomerates and retail giants, with a collective revenue of US$28 billion (RM130 billion). Their participation in Mihas 2023 Halal underscores the event’s significance as a global platform for the halal industry. By connecting Malaysian exporters with these high-profile buyers, the International Sourcing Program is helping to position Malaysia as a key player in the global halal market.
Knowledge Sharing
In addition to its role as a trading platform, Mihas 2023 Halal is also a center for knowledge sharing and industry insights. Recognizing the importance of staying informed about the latest trends and developments in the halal market, Mihas 2023 has established a dedicated knowledge hub. This hub hosts a series of meet-the-expert sessions, where participants can engage directly with industry leaders, gain valuable insights into market trends, and learn about the strategies needed to succeed in the global halal economy.
These sessions are led by luminary figures from the global business community, chambers of commerce, and trade associations. Topics covered include market access strategies, sourcing prerequisites, and the latest trends in the halal industry. By providing participants with direct access to these experts, Mihas 2023 Halal is helping to equip businesses with the knowledge and tools they need to navigate the complexities of the global market.
Mohd Mustafa emphasized the significance of these sessions, stating that they are designed to provide participants with practical insights that can be applied to their businesses. This focus on knowledge sharing reinforces Mihas 2023 Halal’s role as a catalyst for innovation and collaboration within the halal industry. It also highlights the event’s commitment to supporting the growth and development of the global halal economy.
The MIHAS Awards
A highlight of Mihas 2023 Halal is the Mihas Awards, which will take place on September 13. These awards celebrate the trailblazers and innovators within the halal industry, with categories such as the Mihas Excellence Award and the Mihas Innovative Award. The awards not only recognize individual and organizational achievements but also inspire others within the industry to strive for excellence.
The Mihas Awards serve as a platform to honor those who have made significant contributions to the halal industry, whether through innovation, leadership, or commitment to ethical business practices. By spotlighting these achievements, the awards aim to set new benchmarks for excellence in the halal industry and encourage others to follow in the footsteps of these trailblazers.
A Global Gathering
Spearheaded by the Ministry of Investment, Trade and Industry (Miti) and orchestrated by Matrade, Mihas 2023 Halal is a truly global event. With almost 1,900 booths representing 44 countries, the showcase is expected to attract 35,000 visitors from around the world. Held at the Malaysia International Trade and Exhibition Centre from September 12-15, Mihas 2023 is more than just an exhibition—it’s a global gathering of minds and markets, shaping the future of the halal industry.
The sheer scale of Mihas 2023 Halal highlights its importance as a global platform for the halal industry. With participants from across the globe, the event provides a unique opportunity for businesses to connect, collaborate, and explore new opportunities in the rapidly growing halal market. As the world’s premier halal showcase, Mihas 2023 continues to set the standard for what a truly inclusive and impactful trade event can be.
MIHAS 2023 Halal as a Catalyst for Global Growth
In conclusion, Mihas 2023 Halal is not just about promoting products; it’s about fostering global partnerships, sharing knowledge, and celebrating the innovation that drives the halal industry forward. As the world’s premier halal showcase, Mihas 2023 continues to set the standard for excellence in the halal industry. With its focus on inclusivity, collaboration, and innovation, Mihas 2023 Halal is poised to play a pivotal role in shaping the future of the global halal economy.
The event’s success in attracting high-profile participants, facilitating business relationships, and providing a platform for knowledge sharing underscores its significance as a catalyst for global growth. As the halal industry continues to expand, Mihas 2023 Halal will undoubtedly remain at the forefront, guiding the industry towards new heights of success and sustainability.
Anwar Ibrahim, the Malaysian PM, Launches MIHAS 2023
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