12MP: Halal industry to contribute 8.1 per cent to GDP and generate RM56 bln export revenue in 2025
THE halal industry is expected to contribute 8.1 per cent to the country’s gross domestic product (GDP) and generate RM56 billion export revenue in 2025 compared to RM30.6 billion in 2020, according to the 12th Malaysia Plan (12MP) document released by the Economic Planning Unit (EPU) yesterday.
The halal industry, therefore, would be strengthened to produce competitive domestic halal industry players in capturing a bigger global halal market share.
“Measures will be undertaken to enhance the capacity and capability of the halal industry by uplifting the development of halal talent, establishing halal professional recognition, accelerating industry development including Bumiputera participation, increasing product competitiveness, and positioning Malaysia as a global halal hub,” said the document.
It also said that in positioning Malaysia as a global halal hub, the halal supply chain would be improved and Malaysia would be promoted as a prime destination for halal investment through various international platforms, such as Asean, the Organisation of Islamic Cooperation (OIC), and chambers of commerce.
The regional network and distribution channels of local large companies and multinational corporations (MNCs) would be leveraged in promoting exportoriented products and services.
The document stated that the existing distribution centres such as the Digital Free Trade Zone (DFTZ), Port Klang Free Zone (PKFZ) and halal e-commerce platforms would also be leveraged to promote seamless connectivity of the halal supply chain.
“By strengthening the role of halal parks to be more industry-friendly, it will attract new investments and expand existing businesses, while a holistic development approach will be used to revive existing underperforming halal parks,” it said.
In addition, incentives would be improved to attract strategic partners to invest in halalpromoted products and services, whereby a syndicated Islamic fund and a digital advisory platform would be established to provide financial solutions for local and international companies.
On uplifting the development of halal talent, the document said the halal occupational framework would be expanded to include talent requirements in high potential industries such as pharmaceutical, cosmetics and medical devices industry, through engagement with the industry.
“The academic programmes and training modules will be streamlined and accredited In accordance with the National Occupational Skills Standards (NOSS) and Malaysian Qualifications Framework (MQF).
“Higher educations and skills training institutions will be encouraged to offer more halalrelated programmes to produce graduates with holistic halal knowledge and skills,” said the document.
Additionally, a collaboration between public research institutions and the private sectors will be strengthened to create a pool of halal researchers and engineers, thus increasing the ability to produce high-value halal products and services.
To broaden the accreditation of halal professionals for the global market, the document stated that the Halal Professional Board (HPB), which comes under the Department of Islamic Development Malaysia (JAKIM), would be restructured based on new regulations while the mechanisms related to halal professional practices, standards, codes of conduct and competency assessment would be identified.