Overview Development of Halal Industry IMP 3

Among the objectives of the Third Industrial Master Plan (IMP3), 2006-2020, is to make Malaysia the global Halal hub for the production and trade in Halal goods and services. Malaysia has the edge in the development of the Halal industry, as it is a modern Islamic country with an open economy and a well developed physical and institutional infrastructure, capable of supporting initiatives and programmes to develop and promote the industry. There is great potential for developing and promoting the Halal products and services for the global
market:

• the Muslim population is about 1.6 billion and spread across the world. It is estimated that by 2010, the global Muslim population will be approximately 3 billion;


• Halal products and services are also gaining increasing acceptability among non-Muslims; and


• the global market value for trade in Halal food and non-food products is estimated at US$2.1 trillion annually. This market has created interest among food producing countries, both Muslim and non-Muslim.

The growing interest in the potential of the market has hastened the move towards the development of global standards, as well as expanded the coverage of standards to include activities, such as logistics and packaging.

(Malaysia Third Industrial Master Plan (IMP 3) Chapter 21 : Development of Halal Industry, 21.01 )