MIHAS 2023: Unlocking Opportunities in $5tn Global Halal Market

• MIHAS 2023 is poised to become the gateway for global exporters to access the fast-growing global halal industry which is expected to reach almost USD5 trillion by 2030.
• MIHAS 2023 is expected to be the largest halal showcase post-pandemic as global, regional, and domestic players gear up toward increasing trade and investments in the halal economy.

KUALA LUMPUR,  – The 19th edition of the Malaysia International Halal Showcase (MIHAS) is well positioned to become the major gateway for global businesses seeking to access the fast-growing global halal trade and industry post-pandemic.

Speaking at the soft launch for MIHAS 2023, held at Menara MATRADE, the Minister of International Trade and Industry, YB Senator Tengku Datuk Seri Utama Zafrul Aziz noted that, “Malaysia has long been a pioneer in the halal industry, attributed to its well-developed halal ecosystem. With the world’s Muslims making up 25% of the global population, and the halal economy projected to touch USD5 trillion by 2030, there are numerous opportunities for Malaysian businesses to capture.”

“Malaysia’s halal exports jumped 63.8% to RM59.46 billion in 2022, a growth trend that Malaysia looks set to capitalize on with its recently launched Halal Industry Master Plan 2030, and key B2B platforms like MIHAS 2023. These will further cement Malaysia’s position as the leading halal economy, which has been ranked top in the world for the ninth consecutive year,” continued Tengku Zafrul.

MIHAS 2023 which is hosted by the Ministry of International Trade and Industry (MITI) and organized by the Malaysia External Trade Development Corporation (MATRADE) will be held over four days, from 12th to 15th September 2023 at the Malaysia International Trade and Exhibition Centre (MITEC).

MATRADE’s Chairperson YBhg Dato’ Hazimah Zainuddin in her welcoming remarks said that the goal of MIHAS 2023 is to keep accelerating the halal industry’s expansion. “We hope that MIHAS continues to serve as a forum for discussion and exploration of business relationships that will drive consumers’ confidence for halal products and services,” she noted.

The global acceptance of Malaysian halal products, services, and food is an ongoing trend as Malaysia’s reputation as a leading halal exporter is well-known worldwide.

Dato’ Hazimah Zainuddin also stressed that this year’s edition is expected to be the largest post-pandemic as it is expected to attract over 35,000 local and international visitors, and 1,500 booths, targeting 40 country pavilions. While the MIHAS 2022 edition featured exhibitors from 33 countries represented through 1,200 booths.

Dato’ Hazimah also highlighted the fact that as with previous years, MATRADE will be organizing the International Sourcing Programme (INSP) in conjunction with MIHAS 2023. The INSP is a scheduled one-on-one business meeting program between foreign buyers and Malaysian exporters. INSP 2022 generated sales worth RM745.2 million.

Themed ‘Paving the Way of Halal’, this year’s edition will feature the latest halal trends, technologies, and innovations across 13 clusters comprising:

1. Food and Beverages;
2. Modest Fashion & Lifestyle;
3. Cosmetics & Personal Care;
4. Food Technology & Packaging;
5. Islamic Finance & Fintech;
6. Media & Recreation;
7. Retail & Franchise;
8. Muslim-Friendly Hospitality & Tourism;
9. Pharmaceutical and Medicals;
10. Services and Enablers;
11. Education;
12. e-Commerce; and
13. Islamic Arts and Culture.

Apart from the showcase and INSP, MATRADE will also be organizing MIHAS Knowledge Hub, which is a program that focusses on knowledge sharing on issues related to the global halal industry. The Knowledge Hub will consist of a series of conferences, forums, and seminars involving leading keynote speakers, industry experts, and thought leaders. The sessions are expected to provide an invaluable platform for the global halal business community to share their experiences and knowledge related to the industry.

MATRADE collaborates with leading industry partners to ensure MIHAS remains constantly relevant. For example, MIHAS has an official tie-up with Malaysia Airlines, making it the official carrier for the trade fair. This ensures local and international participants involved in MIHAS have access to a world-class carrier.

These are just some of the cutting-edge initiatives that MIHAS is always known for, and such initiatives have even received acknowledgment by the global trade community in the past. For example, MIHAS’ role as a leader in infusing digitalization in the promotion of the halal industry resulted in MATRADE winning the World Trade Promotion Organisation (WTPO) Award in the “Best Use of Information Technology” category in 2022. It was awarded by the Geneva-based International Trade Centre (ITC) and was an acknowledgment of MATRADE’s ability to successfully organize the first virtual edition of MIHAS in 2021.

Since 2004, MIHAS has been leading the global halal industry by bringing together industry players, including buyers, investors, and entrepreneurs for networking, strategic partnerships, and business growth. MIHAS 2023 is not expected to be any different as the event will continue to be crucial in galvanizing the global halal industry and promoting innovation.

For more information on MIHAS 2023, please visit https://mihas.com.my/.