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More than RM16 billion had been invested in Halal Malaysia Industrial Parks, a Halal Malaysia initiative, with RM9.5 billion, or 59%, of those investments being foreign direct investments (FDI).
42 international corporations are among the 295 firms that now work in 22 halal industrial parks around the country, according to the 111th People’s Financial Report (LKR 111) by Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
With 14 strategically located halal parks totaling 80,937.13 hectares, Halal Malaysia Industrial Parks is the largest halal hub in the world and has been granted Halal Malaysia accreditation (HALMAS) by the Halal Development Corporation (HDC).
The finance minister claimed that in addition to other alluring government incentives, Halal Parks provides top-notch facilities, skilled labor, the convenience of conducting business, and access to halal ingredients.
According to the report “State of the Global Islamic Economy 2022,” Malaysia continues to have the highest ranking for halal products among 81 different nations.
He continued, “The assessment was based on the growth of halal infrastructure, the digital economy program, and the government’s greater focus towards food security and health.
The GIEI also predicted that by 2028, the worldwide halal industry will have grown from its stated value of RM8.8 trillion (US$2.09 trillion) in 2021 to over RM14 trillion (US$3.27).
The halal business is anticipated to earn RM56 billion in exports in 2025 as opposed to RM31 billion in 2020, according to the 12th Malaysia plan, and contribute 8.1% to the GDP of the nation.
