ASEAN COMMUNITY OF ENTREPRENEURS
COVER STORY
Given that by the year 2030, the
worldwide Muslim population is
expected to form about 27% of
the global population, prospects
of the halal economy are indeed
encouraging. In fact, the Global
Islamic Economy (GIE) Report
2015-2016 already estimates that
the international halal and lifestyle
market will be worth US$3.7 trillion
just by 2019.
Additionally, the same GIE
Report released at the end of 2015
also recognised Malaysia as the
world’s most advanced Islamic
economy. Out of the six indicators
used to measure the countries’ level
of advancement, Malaysia scored
highest in three of them, namely the
Halal Food, Islamic Finance and Halal
Travel indicators.
Moving forward, the halal
market is set to grow beyond Muslim
majority countries. It should also
be noted that the halal agenda has
been placed at a much higher level of
priorities in many parts of the world,
irrespective of whether Muslims are
the majority or minority in those
populations. Many nations now view
halal as an emerging market force
and an important value proposition,
capable of contributing towards their
respective national economies.
Japan, Brazil, South Korea,
Australia and New Zealand are
some example of countries which
are placing higher priorities to the
promotion of the halal agenda.
Australia and Brazil have built their
entire food-based industries to be
the main suppliers of halal food to
Moving forward, the halal market is set to grow
beyond Muslim majority countries. It should also
be noted that the halal agenda has been placed at
a much higher level of priorities in many parts of
the world, irrespective of whether Muslims are the
majority or minority in those populations.
12
ASEAN COMMUNITY OF ENTREPRENEURS | ISSUE 2 : 2016
the Middle Eastern markets. Japan
is aggressively introducing and
expanding exports of “Made-inJapan” halal products and services
to Muslim markets. The increase in
Muslim tourists has also encouraged
Japanese manufacturers to seek halal
certification for their products.
TRUE POTENTIAL
Doubtlessly, halal has every potential
to be a real engine of growth for
every local ASEAN economies.
Malaysia,
Indonesia,
Thailand,
Brunei, Singapore and the Philippines
have put in place a number of
government-led initiatives for halal
to drive economic growth.
Malaysia has come a long way
in the development of our halal
industry and we have definitely
grown from strength to strength.
The total investment in the country’s
halal industry has grown to RM10.6
billion
(approximately
US$2.72
billion) in 2015 from RM4.1 billion
(approximately US$1.05 billion) in
2012. Meanwhile, the number of
halal certified companies has more
than doubled to 5,726 in 2015 from
2,336 in 2011, while the total jobs
created surged to almost 250,000
jobs in 2015 from 97,000 in 2011.