IMPROVING SME CAPACITY IN HALAL INDUSTRY

It is important to spur SME growth in the halal industry, as SMEs are the backbone of the country’s growth.

Medac and SME Corp jointly enhance the capacity and capability of SMEs to tap into halal opportunities

KUALA LUMPUR: It is estimated that by 2030, the global halal market will reach US$5.0tril (RM20.92tril), while the domestic market is expected to reach US$113.2bil (RM473.57bil).

Moreover, Malaysia’s halal industry contributed about 7% of the country’s gross domestic product (GDP) in 2020, which shows that Malaysia has proven successful in leveraging its potential as a Muslim-majority country.