KUALA LUMPUR: The halal industry is projected to contribute RM231bil to the nation's economy within the next five years, says Investment, Trade and Industry (Miti) deputy secretary-general Datuk Hanafi Sakri.
He said that this was due to a robust halal ecosystem in sectors such as food, finance and travel.
"The halal industry makes up a significant portion of Malaysia's gross domestic product (GDP) with projection estimating that it will reach 10.8% contribution by 2030 or RM231bil," he said this in his speech during the soft launching of the 21st Malaysian International Halal Showcase (Mihas) here on Wednesday (April 30).
In 2024, Malaysia's halal product exports reached RM61.79bil, an increase of 15% from RM53.72bil recorded the previous year, added Hanafi.
"The growing global demand for halal products is valued at over US$3 trillion (RM12.95 trillion).
"It is expected to reach US$5 trillion (RM21.58 trillion) by 2030," he said.
According to a Mihas Facebook post, Malaysia is aiming for a RM63.1bil halal export target this year.
Hanafi noted that Malaysia continues to maintain its top position in the Global Islamic Economy Indicator (GIEI) rankings for 10 consecutive years, followed by Saudi Arabia, Indonesia, and the UAE.
He said that Malaysia's strength lies in its Islamic finance, halal food as well as media and recreation.
He added that Malaysia’s leadership in this sector is a testament to the country's continued innovation and dedication to developing the halal industry.
On Mihas, Hanafi lauded its role as a platform for both local and international players to promote their halal products and services since its inception in 2004.
"In its 21 years of existence, Mihas has attained incredible achievements.
From its humble beginning with only 500 booths, last year Mihas presented nearly 2,100 booths," he said, adding that last year’s event recorded sales totalling RM4.3bil.
To further solidify Malaysia's status as a global halal leader, he said that several strategic initiatives were outlined in Malaysia's Halal Industry Master Plan 2030 (HIMP 2030) launched in 2023.
Meanwhile, in the context of Malaysia's Asean chairmanship, Hanafi said that a special Asean pavilion will be set up at Mihas this year.
"In addition to that, there will also be a dedicated pavilion for companies from the Gulf Cooperation Council (GCC) region, as a strategic partner of Asean featured in Mihas this year," he added.
Hanafi later officiated the Mihas soft launching on behalf of Miti Minister Tengku Datuk Seri Zafrul Abdul Aziz who was unable to attend the event.
Meanwhile, in his welcoming address, Malaysia External Trade Development Corporation's (Matrade) chairman Datuk Seri Reezal Merican Naina Merican said the success of Mihas last year is evidence of its growing significance.
"Last year’s event achieved a remarkable RM4.3bil in sales which represents a substantial 34% increase compared to the previous year," he said.
He added that the event last year attracted over 43,000 visitors from 90 countries.
"The bar is now higher for Mihas 2025," he said.
Reezal added that the next Mihas international edition will be held in Shanghai this November.
"MIHAS@Shanghai will be through strategic participation in the China International Import Expo (CIIE)," he said.
He added that the event would further leverage Malaysia's position to cater to the increasing Chinese as well as East Asia’s demand for halal products and services.
The 21st Mihas, themed "Pinnacle of Halal Excellence", will be held from Sept 17 to 20 this year at the Malaysia International Trade and Exhibition Centre (Mitec).
Those interested in participating in the event can contact 03-62119973, www.mihas.com.my or email sales@mihas.com.my.
