Malaysia to further develop halal sector

Malaysia's halal market value is expected to reach 400 billion RM (89.13 billion USD) by 2030.                 (Photo: Bernama)

Kuala Lumpur (VNA) - Malaysian Deputy Prime Minister and Rural and Regional Development Minister Datuk Seri Dr Ahmad Zahid said the country’s halal market value is expected to reach 400 billion RM (89.13 billion USD) by 2030.

Speaking after a working visit to the Mara Food Industry Complex (Kimar) on February 28, the Deputy Prime Minister said the sector will contribute 11% to the country’s gross domestic product (GDP) by 2030. The global halal industry is projected to reach 22.34 trillion RM by 2030 with the total Muslim population estimated to reach 1.6 billion people.

Ahmad Zahid also said 12,500 entrepreneurs had benefitted from halal industry development through grants, funding and premises rentals last year. These entrepreneurs have successfully generated 12 billion RM in annual sales and created over 15,000 job opportunities.

The minister noted that to enhance the productivity of the factories in Kimar, he approved Mara’s request to increase the electricity voltage.

He also launched the rebranding of Kimar as Mara Halal Industrial Park to further boost the competitiveness of the agency.

There are a total of 295 companies operating across 22 Halal Parks in Malaysia, which were built to promote the development of the halal industry. Each Halal Park offers world-class infrastructure facilities, skilled labour, business facilities, and access to government incentives to encourage halal development./.