KUALA LUMPUR: From January to September 2024, Malaysia’s halal product exports increased to RM45.04 billion compared to RM39.36 billion in the same period in 2023. Deputy Investment, Trade and Industry Minister Liew Chin Tong highlighted this growth while addressing the constraints in Malaysia’s halal market dominance due to the limited issuance of halal certificates by the Malaysian Islamic Development Department (JAKIM).

According to BERNAMA News Agency, Liew referred to the Halal Industry Master Plan 2030 (HIMP 2030), which estimated the global halal market to be worth RM5 trillion. He made these remarks while concluding the debate on the Supply (Budget) Bill 2025 at the policy stage for the Ministry of Investment, Trade and Industry (MITI) in the Dewan Rakyat.

Liew also addressed concerns raised about the merger between the Halal Development Corporation Bhd (HDC) and the Malaysia External Trade Development Corporation (MATRADE). He justified the merger as a strategic move to enhance the export value of
halal products and access new markets, leveraging MATRADE’s existing network of ready markets for local halal industry players.

He further stated that MITI believes the merger will enhance the synergy between HDC and MATRADE and optimize available resources, particularly in promoting the halal industry to become more effective and competitive. Additionally, there will be a concentrated effort to develop local halal champions to penetrate the export market, focusing on serious industry players.