Philippines to create 120,000 jobs in 5 years across halal industry
Philippines will launch a national halal strategy which aims to generate 230 billion peso in investments, create 120,000 jobs in five years, and support micro, small and medium enterprises (MSMEs) in becoming part of a global halal ecosystem before end of 2023.
The plan will also address the growing demand for halal products and services from the country's domestic market and from Organization of Islamic Cooperation (OIC) member countries – spanning Asia, the Middle East, Africa, Europe and the Americas.
“Halal as a way of life is not only for the Muslims. It is increasingly being recognized by many non-Muslim consumers worldwide because of ethical considerations, hygiene, fair trade, and just financing,” Alfredo Pascual, secretary of Philippines’ Department of Trade and Industry, said.
“Over the next five years, we plan to achieve 230 billion peso halal trade and investments and generate 120,000 jobs,” he added.
“By maximizing our potential in the halal industry, together we will help realize the vision of President Marcos Jr. in gaining more investments, which will mean higher economic activity and more quality jobs, and then a better life for all Filipinos.”
The global halal market is estimated to reach $7.7 trillion in market value by 2025, up from $3.2 trillion in 2015.
The DTI will be leading the nine-government inter-agency taskforce that will create a roadmap which will position the Philippines as the most halal-friendly trade and investment hub in Asia Pacific.
Pascual highlighted that the halal industry forms part of DTI’s four priorities: promoting regional development; attaining food security; upgrading, upskilling, and upsizing MSMEs; and enabling job skills matching and skills upgrading.
The halal plan is not restricted to food and food-related products but also includes Islamic finance, halal-friendly travel and tourism, modest fashion, halal pharmaceuticals and cosmetics sectors.
MSMEs are set to benefit from the DTI‘s halal initiatives, which include DTI's 66 million peso partnership deal with the Bangsamoro Autonomous Region in Muslim Mindanao-Ministry of Trade, Investment, and Tourism (BARMM-MTIT), to promote halal products and services. It also includes trade conventions and certifications, as well as efforts for regional development and international cooperation.
