Halal industry exceeds target
THE country's halal industry has been able to attract investments worth about RM1.2 billion in the first seven months of this year, exceeding its initial target of RM1 billion for the whole of 2012.
Deputy International Trade and Industry Minister Datuk Mukhriz Mahathir said this showed that demand for halal products has continued to grow despite the global economic uncertainties.
"It also shows that foreign investors are still interested to invest (in the halal industry) in Malaysia," he said after closing a briefing session on the Malaysian Halal System, here, yesterday.
Mukhriz said Malaysia has set an export target of RM37 billion this year, compared with RM35 billion recorded last year.
He said exports of halal products in the first six months of this year stood at RM16.6 billion.
"This is a slight decrease compared with the corresponding period of last year at RM17 billion, but I am confident that we can meet this year's target due to increasing demand for halal products."
In another development, Mukhriz said Bank of Tokyo has proposed to hold a meet-up session between Japanese investors and local halal industry players on November 19, with the possibility of forging a joint venture between them.
"As a result from a Malaysian delegation to Japan in December last year, Bank of Tokyo plans to bring along 15 major Japanese companies that are interested in the halal industry in Malaysia.
"It (Bank of Tokyo) has also asked the Halal Development Corp to identify Malaysian companies that are keen to set up joint ventures with Japanese partners," he said.
He said Malaysia is currently focusing on developing the ingredients segment of the halal industry.
"We are encouraging local players as well as foreign investors to participate in the supply of ingredients for halal products.
"In fact, we have been approached by China, Japan, South Korea, Thailand and Indonesia to supply and invest in the manufacturing of ingredients for halal products," he said.
Citing the potential of the ingredients segment as very big, Mukhriz said contribution of the ingredients segment is still considered small compared to the global halal products market of US$30 billion (RM91.47 billion).
"In Malaysia, the ingredients segment accounted for some RM12 billion out of RM35 billion worth of halal products exported last year," he said, adding Malaysia is one of the top suppliers of ingredients for halal products in the world.
Source : New Straits Times
Date : 8 November 2012
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