PETALING JAYA, 25 March 2020 – As the custodian of Malaysia’s Halal economy, Halal Development Corporation Berhad (HDC) today unveiled Malaysia’s performance within the Halal industry as it continues to spearhead the development of economic catalysts aimed at bolstering Malaysia’s positioning as the most competitive country within the global Halal sector.
According to its statement to the media, HDC’s Chief Executive Officer, Hairol Ariffein Sahari, spoke of the overall economic impact of the Halal industry, forecasted to contribute approximately 7.0 per cent for 2019 and 7.4 per cent to Malaysia’s GDP by the year 2020.
“Through increased consumer confidence, Malaysia registered a Halal export value of RM40.2 billion in 2019, a slight increase as compared to RM40.0 billion in the previous year, backed by higher imports from the Americas. In 2019, the Americas contributed an estimated RM4.0 billion of imports from Malaysia as compared to RM3.7 billion in 2018, displaying a year-on-year increase of 7.7%.”
Hairol Ariffein Sahari, HDC’s Chief Executive Officer
“It was originally forecasted that by 2020, Malaysia’s annual Halal exports would reach an estimated RM50 billion. However, it has been a challenging start to the year as we face a global challenge on a monumental scale, considering the current volatility of oil prices and the COVID-19 crisis.
“Nevertheless, the Halal industry continues to show resilience due to its strong fundamentals, and we intend to further augment Malaysia’s market share through our strategic programmes amidst these challenges. We can still see that there is much headroom for growth, especially within the landscape of home-grown Malaysian exporters”, elaborated Hairol on the Malaysian Halal export industry.
HDC’s statistics showcase that in 2019, Halal Food and Beverages continued to retain its spot as the top contributor to the domestic Halal economy at RM22.05 billion. Halal Ingredients come in at second place with a contribution of RM12.64 billion, followed by Cosmetics and Personal Care at RM2.95 billion, Palm Oil Derivatives at RM1.26 billion, Industrial Chemicals at RM917.2 million and Halal Pharmaceuticals at RM400.9 million.
Investments in Halal Parks throughout Malaysia have resulted in a cumulative RM13.89 billion since 2011 and are expected to in excess of RM15 billion by 2020. As a consequence, businesses related to the Halal industry also have created more than 350,000 employment opportunities within this 9-year period.
As secretariat for Malaysia’s Halal Industry Development Council, HDC holds a critical role within the development of Malaysia’s Halal economy and is set to create linkages between Malaysia and the Halal ecosystems of other nations.
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