Newswrap: Halal industry
Malaysia’s halal exports to reach $9.6 bn in 2022; Malaysia recommended to adopt Sharia Compliance Commission; UAE, Egypt and Jordan ink $10 bn industrial partnership; Serbia wants to invest in food storage in Bangladesh; UAE’s ChicKing to open outlets in Kenya.
Malaysia’s halal exports to reach $9.6 bn in 2022
Malaysia’s Halal Development Corporation (HDC) expects halal exports to surge to over R42 billion ($9.6 billion) this year, reported Bernama. The state-linked body said exports in Q1 were almost 100% up on the same quarter last year. “From the performance in the first quarter, and if this trend and momentum continue till the end of the year, we will be on track to surpass the pre-pandemic level,” said Hairol Ariffein Sahari, HDC’s chief executive, to the press at the launch of the “Make Halal Your First Choice” campaign.
In 2021, exports rose by 19% to RM36.3 billion ($8.3 bn), up from RM30.5 billion ($6.9 bn) in 2020. Food and beverage exports were RM17.64 billion ($4.03 bn), halal ingredients RM13.49 billion ($3 bn), cosmetics and personal care RM2.44 billion ($549.1 mn), palm oil derivatives RM1.71 billion ($391.2 mn), industrial chemicals RM750 million ($171.6 mn) and halal pharmaceuticals RM280 million($64 mn).
Top export destinations were to China at RM4.6 billion ($1.05 bn), and Singapore RM3.7 billion ($846.5 mn) followed by Japan, the USA and Indonesia. Investments in halal parks last year reached RM210 million ($48 mn).
Malaysia recommended to adopt Sharia Compliance Commission
Malaysia’s prime minister has called for the regulation of the halal industry to be consolidated through a Sharia Compliance Commission, reported the New Straits Times. Prime Minister Datuk Seri Ismail Sabri Yaakob said that current regulations were focused on the Islamic financial centre through the central bank and Securities Commission. “The Department of Islamic Development Malaysia (JAKIM) plays a role in the regulation of the halal industry. Therefore, a more comprehensive regulation can be consolidated, for example through the establishment of a Sharia-Compliant Commission. I urge that this recommendation be given due attention so the aspiration to make Malaysia the main reference model in the field of halal economy can be realised,” the premier said at the Tun Abdullah Ahmad Badawi Lecture. He cited Malaysia’s performance in DinarStandard’s Global Islamic Economy Report 2022. "Currently, the halal economy is developing, encompassing the financial and food sectors, and these aspects need to be given attention,” he said.
UAE, Egypt and Jordan ink $10 bn industrial partnership
UAE, Egypt, and Jordan inked an industrial partnership agreement in Abu Dhabi to enhance cooperation in food, agriculture and fertilisers; pharmaceuticals; textiles; minerals and metals; and petrochemicals, reported Gulf Business.
The three countries account for some 26% of the Middle East and North Africa’s (MENA) industrial capacity, according to WAM. Combined, agricultural and food products were estimated at $52 billion in 2019. In the pharmaceutical sector, the three countries have “more than 200 pharmaceutical factories and export to 90 countries worth more than $1 billion. The value of the pharmaceutical market in these countries is estimated at $9 billion”.
Serbia wants to invest in food storage in Bangladesh
During a visit to Bangladesh by Serbia’s foreign affairs minister, Nikola Selakovic, he said the Eastern European country was keen to invest in food storage facilities, reported the Dhaka Tribune. Bangladesh only has cold storage for potatoes, said Senior Vice President Mostofa Azad Chowdhury Babu. Some 30% of the country’s agricultural products are wasted every year due to inadequate packaging, transportation and storage.
UAE’s ChicKing to open outlets in Kenya
Dubai-based halal fast-food chain ChicKing is to open 30 outlets in Kenya over the next five years, reported Nanyang Technological University Singapore. The chain’s outlets are slated to grow beyond 230 as it expands in 28 countries, having recently announced plans to open 30 stores in Canada by 2030. In Africa, ChicKing is present in Angola, Cote d’Ivoire, Djibouti, Nigeria, and Somalia, and is to expand in Democratic Republic of Congo, Egypt, Mauritius, South Africa, Sudan, and Tanzania.
