Malaysia External Trade Development Corporation

• In 2023, for the 10th year in a row, Malaysia is leading the Global Islamic Economy Indicator (GIEI) ranking. Malaysia has achieved the top spot in various sectors including Islamic Finance, Halal food and Media & Recreation. This remarkable accomplishment solidifies Malaysia's position as a global leader in the Islamic economy

• Based on the State of the Global Islamic Economy Report 2023/2024 published by Dinar Standard, Muslim consumers spent a staggering US$2.29 trillion in 2022. The report highlights the significant economic impact of the Halal food industry, with 2 billion Muslims contributing to this substantial expenditure
• According to the Halal Industry Master Plan (HIMP) 2023 report, Malaysia's Halal market is projected to reach a staggering RM523.53 billion (USD113.2 billion). Impressively, by 2030, the Halal industry in Malaysia is set to contribute nearly 11% to the country's GDP, generating over 700,000 job opportunities
• In 2022, Malaysia's exports of Halal products were valued at RM59.46 billion (USD12.89 billion). By 2030, Malaysia’s exports of Halal products are targeted to reach RM70 billion (USD 15.19 billion)
• Malaysia International Halal Showcase (MIHAS) has established itself as the world’s largest Halal trade fair for the global industry to network and build partnerships
• Over the course of 19 editions, MIHAS has successfully brought together almost 10,000 Halal suppliers and attracted over 480,000 visitors from around the globe. These editions have generated an impressive total sales amount of RM24.87 billion. MIHAS has truly established itself as a premier event in the Halal industry, showcasing the immense potential and growth in this sector. Moving forward, MIHAS will expand its footprint internationally bringing its strong brand to a wider stakeholders and audience.

Malaysia has been recognized at the global forefront as the pioneer in the establishment of a national Halal certification system. Through JAKIM, Malaysia's Halal certification system has strengthened its stature through the network of over 80 foreign certification bodies from more than 45 countries.

The assurance of quality is backed by a well structured and established Halal quality infrastructure ranging from application of standards, conformity assessment (certification & testing), traceability and global recognition that support trade & industries, consumers and related regulatory framework on Halal.

Key features of Halal quality assurance includes:

1. The integrity of Halal Malaysian products and services that is based on credible Malaysian Standards (MS)
2. The proven competency of Halal talents that comply to international standards
3. Internationally accepted certification system that boosts market access

The introduction of Malaysia MADANI (SCRIPT) concept may serve as the guiding principle for the incorporation of social and ethical consideration to enhance National Halal Certification system in order to maintain Malaysia’s leading position in the global Halal market.

• Malaysia has established an enabling Halal environment to support the growth of the Halal industry ranging from a reputable & globally accepted certification system, and comprehensive masterplan up to strong facilitation in expanding market access
• The Halal Industry Master Plan (HIMP) 2023 envisaged a comprehensive ecosystem that can sustain the rapid expansion of the Halal industry and transform it into a key economic contributor to Malaysia’s GDP

• From the national perspective, Halal is consistent with sustainability and ethical consumption whereby the value proposition offered by Halal does not allow the use of harmful substances and unlawful practices which may be detrimental to humans, the environment, and society at large
• The conducive environment, backed by its Halal certification expertise, strategic business locations, ample qualified talents and dedicated industrial parks as well as supportive government initiatives, has steered Malaysia to be one of the attractive Halal investment destinations for businesses to capitalize on the growing global Halal market

• Clusters of Halal products and services have expanded beyond the F&B industry. They encompass a wider range of sectors, including pharmaceuticals, modest fashion, cosmetics and personal care products, Islamic finance, and logistics. This expansion is in response to the increasing demand for more Halal products and services.

• The credibility of Malaysian Halal-certified suppliers has been significantly enhanced through their adherence to global industry standards and requirements. Notably, domestic Halal F&B manufacturers prioritize compliance with internationally recognized standards such as the Food Safety Management System (ISO22000), Hazard Analysis Critical Control Points (HACCP), and Good Manufacturing Practices (GMP).

• Over the years, many foreign and multi-national companies (MNCs) have wisely chosen Malaysia as their Halal manufacturing hub. At the same time, home-grown Halal manufacturers have also expanded their capabilities and capacities to meet rising demands both at home and abroad.
• HIMP 2030 has emphasised on producing more high value-added products and service riding on innovation to increase visibility and acceptability at the international platform covering 3 Halal core sectors namely Food & Beverages, Cosmetics & Personal Care and Pharmaceuticals.