Malaysia’s halal market is expected to contribute 8.1 percent to the Gross Domestic Product (GDP), with export revenue estimated to be 56 billion RM (14 billion USD) in 2025, according to a report from the Prime Minister’s Office.
The potential for the export of halal products was vast and that in 2020 alone, it contributed 9.7 billion RM to the GDP, PM Ismail Yaakob told the National Halal Conference held virtually on November 23.
He called on relevant agencies to boost the marketability of local halal products to international markets.
The Malaysian government plans to carry out three new mechanisms to ensure the integrity of the management system for the import of halal meat products into the country.
The mechanisms include imposing a condition where animal-based products that are stored in warehouses must have the Malaysian halal certification. Animal-based products that are imported must also use transportation chains that have received the halal certification. There will also be a mandatory procedure for re-packaging processes where the companies concerned are compelled to obtain the halal certification under the food-product scheme.
The mechanisms will be implemented by the Department of Islamic Development Malaysia (JAKIM) and several related agencies.
According to the PM, the halal industry has potential to boost Malaysia's economy as the Muslim population in the world will increase from 1.8 billion currently to 2.2 billion in 2030.