Tengku Zafrul is confident that HIMP 2030 will help cement Malaysia’s position as the undisputed global leader in the halal industry.
PETALING JAYA: Malaysia is poised to maintain its lead position in halal products and services that meet global quality standards, says International Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.
Tengku Zafrul said the country has the right ingredients and ecosystem to grow its network, trade and investments.
He pointed out that Malaysia has been ranked as the lead halal economy in the world for the ninth consecutive year.
The government had recently launched the Halal Industry Master Plan 2030 (Himp 2030) to promote growth of Malaysia’s halal economy.
“It sets out clear action plans on how we can strategically capitalise on the growing global demand for halal products and services, as well as strengthen Malaysia’s leadership role by leveraging on our world-recognised halal industry ecosystem and cumulative expertise,” he said in conjunction with the sof launch of the Malaysian International Halal Exhibition (Mihas) 2023 to be held in Kuala Lumpur.
Tengku Zafrul is confident that HIMP 2030 will help cement Malaysia’s position as the undisputed global leader in the halal industry.
“Through Himp 2030, we are projecting that our halal industry to expand to US$113.2bil (RM498.5bil) by 2030, with a gross domestic product contribution of 8.1% by 2025,” he said.
Citing an estimate by research and consulting firm Frost & Sullivan, Tengku Zafrul said the halal economy across the world is forecast to touch US$5 trillion (RM22.02 trillion) by 2030.
“The world’s global Muslim population currently exceeds 1.9 billion and growing, providing bright growth prospects and numerous opportunities for our players to capture,” he said.
Malaysia’s halal exports, on the other hand, rose by 63.8% to RM59.46bil in 2022.
Meanwhile, Malaysia External Trade Development Corp (Matrade) targets to achieve RM2.1bil sales during the 19th edition of the Mihas 2023 that will take place in September.
Chief executive officer Datuk Mohd Mustafa Abdul Aziz said it would represent an increase from its target of RM1.9bil during last year’s MIHAS.
However, Mohd Mustafa said Mihas 2022 generated RM2.39bil in sales, surpassing its original target.
Mohd Mustafa is optimistic that Matrade would be able to achieve the target for this year as China has opened its international borders. He said this would allow more companies from the republic to participate in the exhibition.“China is coming out with 111 exhibition booths and there will be an increase in the number of buyers both physically and online,” he told a press conference in conjunction with the soft launch of Mihas 2023 at Menara Matrade.
Meanwhile, Matrade chairperson Datuk Hazimah Zainuddin said this year’s edition is expected to be the largest post-pandemic as it is expected to attract more than 35,000 local and international visitors with 1,500 booths from 40 countries.
The Mihas 2022 edition featured exhibitors from 33 countries represented through 1,200 booths.
On the number of buyers, he said there were 200 physical buyers last year.
For this year, he said, the target is to attract 240 buyers, excluding 230 online purchasers.
“We brought in five premium buyers last year,” Mohd Mustapa said, adding that 10 premium buyers would be attending Mihas this year.
