Today, the Malaysian halal brand is widely recognised and accepted throughout the world. Thus, Malaysia is well-positioned to become the gateway for halal products from ASEAN countries to enter the international market.
Today, the Malaysian halal brand is widely recognised and accepted throughout the world. Thus, Malaysia is well-positioned to become the gateway for halal products from ASEAN countries to enter the international market.
Malaysia stands tall as both a global leader of halal industry and standards.
Its journey towards becoming the leader in the world’ s halal industry began in 1974 when the Research Centre at the Islamic Affairs Division in the Prime Minister’ s Office started to issue halal certification letters for products which met the halal criteria.
In the year 2000, the journey reached yet another significant milestone as Malaysia became the first country to have a documented and systematic halal assurance system following the release of its halal standards. This can be described as a revolution which has lifted halal standards from that of a traditional cottage industry to a vibrant new economy.
Malaysia’ s relentless efforts in developing this industry continued in 2008 as the country embarked on the Halal Industry Development
Master Plan( HIMP) 2008-2020 which aims to drive halal as a new source of economic growth. This is in line with the Government’ s efforts to diversify economic activities against the backdrop of the-then Global Finance Crisis( 2008-2009).
The 13-year master plan has been divided into three implementation phases. The first phase implemented in 2008-2010 was meant to establish Malaysia as a global leader in halal integrity through improved certification process and the establishment of a Global Halal Support Centre. The second phase in 2011-2015 focused on establishing Malaysia as the preferred location for halal-related businesses through the development of a global knowledge base and global brand recognition.
Malaysia is now in the third and final phase of completing the Master
Plan. Having established a firm footing with regard to halal integrity and as the preferred place to do business, the priority is to expand the footprint of Malaysian companies into the international market.
Very broadly, the halal industry in Malaysia today covers food and non-food products, including pharmaceuticals, health products, medical devices, cosmetics and toiletries. Meanwhile, services within the industry include logistics, packaging, branding & marketing, printed & electronic media, banking, insurance and travel & tourism.
LUCRATIVE VALUE
The global halal economy is now valued at an estimated RM8.4 trillion( approximately US $ 2.16 trillion). The halal food sector alone accounts for almost RM2.5 trillion( approximately US $ 642 billion) of that total.
ISSUE 2: 2016 | ASEAN COMMUNITY OF ENTREPRENEURS
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