The 19th edition of the Malaysia International Halal Showcase, MIHAS 2023 returns under the theme “Paving the Way of Halal” which aims to stimulate and amplify cross-border trade among participating countries.
Once again, as the globally-recognised largest international Halal exhibition, MIHAS has attracted many buyers, distributors, and investors from around the world, acting as a one-stop centre that provides businesses with opportunities to expand their markets. And, by showcasing the latest trends and technologies in the Halal industry, MIHAS gives businesses insights into the latest market developments and consumer preferences. This helps businesses stay ahead of the curve and remain competitive in the global Halal market, said Minister of International Trade And Industry Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz at the soft launch event of MIHAS 2023 today (March 28).
The government – through MITI, MATRADE and other key agencies – is committed to supporting participating businesses. This includes business matching, marketing support, and access to financial assistance such as grants and incentives for Malaysian exhibitors.
Zafrul, in a statement released by MITI today, said MIHAS 2022 achieved over RM2.39 billion in sales, surpassing its original target of RM1.9 billion. This helped maintain MIHAS’s pole position as a key large-scale showcase for Halal products and services from around the world.
This was achieved by adding value to exhibitors’ physical participation, MATRADE offered an online portal to enable them to also showcase their products and services through a virtual platform. This hybrid mode allowed the exhibitors to reach out to more potential clients from all over the world.
MATRADE’s signature business matching programme, the International Sourcing Programme (INSP) was also conducted in a hybrid mode. Due to the success of the hybrid edition, we will continue offering our digital feature in the 19th edition of MIHAS. The 18th edition of MIHAS in set a record for MITI and Matrade as it was the first time the large-scale event was organised in a hybrid manner.
The Global Halal Economy’s Usd5-Trillion Prospects
According to Frost & Sullivan (September 2022), the Halal economy in the post-pandemic era is forecasted to touch USD5 trillion by 2030. The world’s global Muslim population currently exceeds 1.9 billion people and growing, providing bright growth prospects and numerous opportunities for our players to capture.
In fact, Malaysian Halal exports rose by an impressive 63.8% to RM59.46 billion in 2022. This means that the Halal industry is becoming increasingly important for businesses – including MSMEs – to generate revenue and jobs, which are key to economic development, while creating a positive spillover to the rakyat’s livelihood in general.
Malaysia Has The Right Ecosystem & Strategy To Capture More Global Halal Business
Malaysia is known to be a leading supplier of a wide range of Halal-certified products and services, namely food, cosmetics, pharmaceuticals, finance and tourism. To promote the growth of Malaysia’s Halal economy, the Government recently launched the Halal Industry Master Plan 2030 (HIMP 2030). It sets out clear action plans on how we can strategically capitalise on the growing global demand for halal products and services, as well as strengthen Malaysia’s leadership role by leveraging on our world-recognised halal industry ecosystem and cumulative expertise.
“Malaysia has once again been ranked as the leading Halal economy in the world for the 9th consecutive year. The HIMP 2030 will help cement Malaysia’s position as the undisputed global leader in the halal industry. Through HIMP 2030, we are projecting that our halal industry will expand to USD113.2 billion by 2030, with a GDP contribution of 8.1% by 2025.
Zafrul was confident of achieving this, because the government has invested heavily in enhancing the Halal ecosystem, including promoting Halal R&D, and nurturing the enabling infrastructure to support Halal production and distribution with:
a. JAKIM remaining the prominent agency for Halal certification, not only domestically, but also internationally.
b. The Halal Development Corporation (HDC) on the other hand, spearheads the development of Malaysia’s integrated and comprehensive Halal ecosystem.
c. These agencies, together with MATRADE, are MITI’s strategic partners for the progress and development of Malaysia’s Halal industry.
MIHAS, as a B2B platform that has grown from strength-to-strength, has also established itself as one of our key drivers to build on the Halal momentum by exploring new frontiers and untapped opportunities in this industry.
“We have all the right ingredients and ecosystem to grow the Halal network, trade and investments in Malaysia. To that end, I am confident that with the HIMP 2030, complemented by MITI’s vision in developing this industry, and B2B platforms like MIHAS, Malaysia can maintain its leadership position in Halal products and services that meet the highest quality standards,” he said.
The minister said the Islamic core values of Halal also support the concept of “Malaysia Madani”, which revolves around the core values of sustainability, prosperity, innovation, respect, trust and compassion. All these helps to position Malaysia as a country that values ethical and responsible business practices, which complement Malaysia’s Halal branding worldwide.
This year, MIHAS returns with the theme “Paving the Way of Halal” which aims to stimulate and amplify cross-border trade among participating countries.
As the globally-recognised largest international Halal exhibition, MIHAS has attracted many buyers, distributors, and investors from around the world, acting as a one-stop centre that provides businesses with opportunities to expand their markets.
And, by showcasing the latest trends and technologies in the Halal industry, MIHAS gives businesses insights into the latest market developments and consumer preferences. This helps businesses stay ahead of the curve and remain competitive in the global Halal market.
The government – through MITI, MATRADE and other key agencies – is committed to supporting participating businesses. This includes business matching, marketing support, and access to financial assistance such as grants and incentives for Malaysian exhibitors, Zafrul added.
The 19th edition of the Malaysia International Halal Showcase, MIHAS 2023 will be held on 12 – 15 September 2023.
