Malaysia's halal export value may hit RM50bmark this year: HDC

This will be at least 11 per cent growthfrom last year’s RM45 billion, higher than 2.6 per cent growth from 2016 to2017 and Malaysian Islamic Development Department’s (Jakim) year-end growthtarget of 10 per cent.

The export value currently stood at RM20billion this year.

HDC chief executive officer Datuk SeriJamil Bidin said the halal export growth is expected to pick up 'tremendously'in the second half of this year.

“For the past several years, we see thesame trend. Normally, the growth in the first half of the year is quite slowbut it will pick up tremendously in the rest of the year.

“We hope we could at least achieve, if notbreach, the RM50 billion export value target for Halal Industry Masterplan 1.0this year as we will be launching the new masterplan (Halal Industry Masterplan2.0) in December," he said recently.

Jamil said the Masterplan 1.0 was supposedto end in 2020 but HDC decided to come up with the new masterplan sooner as itis approaching the RM50 billion target.

"We also need to adapt to the newchanges the industry is facing,” he said.

Jamil said Malaysia’s halal industry willgrow irrespective of the global economic situation.

“Certain sectors may feel the effect fromthe slowdown in global trade especially with the escalation of trade tensionbut it will not be significant,” he said.

Last month, Jakim said it expected anincrease of 10 per cent in halal exports this year from RM45 billion in 2017.

Its director of Halal Hub Division DatukSirajuddin Suhaimee said this is on the back of the consistently improvingdemand for halal-certified products, not just from Muslim countries but alsonon-Muslim countries that seek hygienic processes and food safety as well ashalal and shariah-compliant services.

“Countries with high demand for halalcertification from Jakim include China, Japan, Taiwan and Hong Kong,” he said.

Meanwhile, CCM Duopharma Biotech Bhd groupmanaging director Leonard Ariff Abdul Shatar said the halal pharmaceuticalindustry, valued globally at an estimated USD$83 billion in 2016, is expectedto grow to USD$132 billion by 2022.

“The market potential may be even greateras it is not just exclusive to Muslim communities. Pharmaceuticals account for26 per cent, the second largest after food sector with 61 per cent andcosmetics with 11 per cent,” he said.

Leonard said the company aims to grow itsmarket share globally in the years ahead.

link-> https://www.nst.com.my/business/2018/10/416675/malaysias-halal-export-value-may-hit-rm50b-mark-year-hdc