MIHAS 2023: A Record-Breaking RM3.11 Billion in Sales!

The 19th edition of the Malaysia International Halal Showcase (MIHAS 2023) has once again demonstrated its unrivaled status as the world’s largest and most influential halal trade platform. Held from September 12 to 15, 2023, at the Malaysia International Trade and Exhibition Centre (MITEC) in Kuala Lumpur, MIHAS 2023 exceeded all expectations, setting new records and further cementing its role as a critical driver of the global halal economy.

MIHAS 2023: A Testament to MIHAS’s Influence

MIHAS 2023 achieved a staggering RM3.11 billion in sales, surpassing its original target of RM2.5 billion by an impressive 24%. This achievement is not just a numerical victory; it is a clear indication of MIHAS’s growing influence in the global halal industry, which is anticipated to expand to nearly USD 3.5 trillion by 2030​.

 The significant sales milestone was largely driven by two key components of MIHAS: the International Sourcing Programme (INSP) and the signature trade exhibition.

The INSP, which is a flagship initiative of MATRADE, connected 469 Malaysian companies with 231 international buyers from 44 countries. This program alone generated RM1.22 billion in sales, highlighting the effectiveness of MIHAS in facilitating high-value business transactions. The trade exhibition, featuring exhibitors from 44 countries, contributed another RM1.89 billion, making MIHAS 2023 a resounding success.

Global Participation and Strategic Growth

The success of MIHAS 2023 is not just reflected in its sales figures but also its global reach. The event attracted 38,566 visitors from over 100 countries, significantly surpassing the anticipated 35,000 attendees. Among these visitors, 29,090 participated in person, while 9,476 joined virtually. This broad participation underscores MIHAS’s role as a global platform for the halal industry, facilitating cross-border trade and collaboration on an unprecedented scale.

Moreover, MIHAS 2023 played a crucial role in opening new markets for Malaysian halal products. The business matching sessions provided access to some of the world’s largest supermarket chains, including Walmart, Aldi, Asda, Marks & Spencer, Guardian, Sainsbury, and Woolworth, as well as new markets in Romania, Poland, and Morocco. This expansion is a testament to Malaysia’s strategic efforts to internationalize its halal industry and strengthen its position as the leading halal hub in Asia.

Focus on Sustainability and Innovation

A key highlight of MIHAS 2023 was its focus on sustainability and digitalization, aligning with global trends and Malaysia’s Halal Industry Master Plan 2030. The event featured 13 major halal industry clusters, including food and beverages, pharmaceuticals, modest fashion, Islamic finance, and more. This diverse representation reflects the evolving nature of the halal market, which now spans multiple sectors beyond the traditional food and beverage industry.

MIHAS 2023 also placed significant emphasis on fostering innovation within the halal industry. The event hosted the MIHAS Awards, which celebrated excellence and innovation among exhibitors. The awards recognized outstanding achievements in two main categories: the MIHAS Excellence Award, which was automatically included for all exhibitors, and the MIHAS Innovative Award, which required a physical pitching session.

In addition to the awards, MIHAS 2023 featured the Knowledge Hub, a platform for industry experts to share insights on market trends, sourcing requirements, and best practices. This initiative facilitated direct engagement between buyers and sellers, fostering a deeper understanding of the global halal market and its future direction.

Strategic Collaborations and International MoUs

One of the standout features of MIHAS 2023 was the emphasis on strategic collaborations and the signing of Memoranda of Understanding (MoUs). More than 30 MoUs were exchanged between Malaysian and international organizations during the event, further strengthening Malaysia’s position as a global halal hub. These collaborations are expected to drive future growth and open new opportunities for Malaysian companies in the international market.

The event’s success was also attributed to the strong support from various Malaysian government agencies. MATRADE, the organizer of MIHAS, worked closely with 34 federal and state agencies to ensure a seamless and inclusive event. This collaboration not only facilitated greater participation from local companies, especially Micro, Small, and Medium Enterprises (MSMEs) but also aligned with Malaysia’s broader economic goals under the New Industrial Master Plan 2030​.

MIHAS 2024

The overwhelming success of MIHAS 2023 has already set the stage for next year’s event. Over 800 exhibitors have expressed interest in participating in MIHAS 2024, scheduled for September 17-20, 2024. This continued growth is a testament to MIHAS’s critical role in advancing the global halal industry. As the halal economy continues to expand, MIHAS is expected to play an even more significant role in shaping its future.

Malaysia’s Vision for the Halal Industry

MIHAS 2023 is more than just an annual trade exhibition; it is a key component of Malaysia’s broader vision for the halal industry. The event aligns with the Halal Industry Master Plan 2030, which aims to contribute RM266 billion to Malaysia’s GDP by 2030, accounting for 11% of the total GDP. This ambitious goal is supported by MIHAS’s efforts to facilitate market access for halal industry players and promote sustainable growth.

Malaysia’s commitment to the halal industry is further reflected in its focus on internationalizing MSMEs. Platforms like MIHAS provide these enterprises with the necessary tools and opportunities to compete in the global market, thereby driving Malaysia’s economic security and inclusivity agenda under the New Industrial Master Plan 2030​.

MIHAS as a Catalyst for Global Halal Growth

MIHAS 2023 has once again proven its status as the world’s premier halal trade platform. The event’s record-breaking sales, extensive global participation, and strategic focus on sustainability and innovation underscore its vital role in advancing the global halal industry. As MIHAS continues to grow, it will undoubtedly play an increasingly important role in shaping the future of the halal economy, not just in Malaysia but globally.

The continued success of MIHAS is a testament to Malaysia’s strategic vision and commitment to the halal industry. With MIHAS 2024 already on the horizon, the future looks bright for the global halal market, and Malaysia is poised to remain at the forefront of this dynamic and rapidly growing industry.