HALAL INDUSTRY TO CONTRIBUTE 5.8 PCT TO NATION'S GDP BY 2020

KUALA LUMPUR, April 4 (Bernama) -- The halal industry is expected to contribute 5.8 per cent to Malaysia's gross domestic product (GDP) by 2020 with the sector estimated to grow at a steady pace of five per cent annually.

Halal Industry Development Corp's chief executive officer, Datuk Seri Jamil Bidin, said the food and services sector was expected to drive the growth of the industry, which currently contributed less than two per cent to the GDP.

"Currently, the industry is estimated to be worth RM15 billion.

"We are confident of achieving the 5.8 per cent target on continuous demand and the growing awareness of the halal products that Malaysia has promoted over the past four years," he said.

He said currently, halal products made up less than 10 per cent of the total global trade and there was a big potential for industry players to tap the markets in China, India and the other non-Muslim countries.

KasehDia Sdn Bhd’s founder/managing director, Jumaatun Azmi, said increasing Muslim population globally would also have a significant impact on demand for halal products.

"It’s just the market that you can’t ignore. The demand is there and is growing," she said.