KUALA LUMPUR: Any issues related to halal guarantee is important to be addressed in efforts to promote the halal industry because it risks damaging the image of the halal industry that has been worked on over the years, said Prime Minister Datuk Seri Ismail Sabri Yaakob.

"The halal guarantee refers to consumer confidence, standardisation, certification and accreditation," he said when officiating at the 18th Malaysia International Halal Showcase (MIHAS) here today.

According to the Prime Minister, there are now more than 8,000 companies in Malaysia recognised as halal with more than 20 per cent of them being exporting companies.

"The Department of Islamic Development Malaysia (JAKIM) also works with halal certification bodies from various countries for uniformity of standards in compliance with the shariah laws," he said.

Ismail Sabri said the Global Islamic Economic Indicator also predicted the halal market would grow to nearly RM14 trillion (US$3.27 trillion) by 2028, from RM8.8 trillion (US$2.09 trillion) as reported last year.

This is in line with the increase in the global Muslim population which had reached 1.9 billion in 2021, at the same time showing high potential in diversifying the halal industry in a more inclusive and comprehensive manner in the long term, he added.

"I am also proud to be informed that for nine consecutive years, Malaysia has managed to maintain the top spot, based on the Global Islamic Economy Indicator contained in the 'State of the Global Islamic Economy 2022' report, competing with 81 other countries," said the Prime Minister.

The assessment, he said, was made based on economic digitalisation initiatives, halal infrastructure development and increased government focus on food security and healthcare.

The organisation of the MIHAS this year is a testimony of the people's faith in the effectiveness of the government's strategy in driving the development and innovation of the halal industry in Malaysia and internationally, Ismail Sabri added.

He explained that the increase in sales from year to year will have a spillover effect on the halal-related sector, and indirectly contribute to the success of Malaysian companies, particularly the development of micro, small and medium enterprises (MSMEs).

"In fact, the increase in the sales of the halal sector will ultimately boost the growth of the Gross Domestic Product (GDP), in addition to opening up more space and opportunities for the Malaysian community to bring the halal industry to the international level," he said while inaugurating MIHAS 2022 here today.

The Prime Minister added that to facilitate the growth of Malaysia's halal industry, 'Halal Malaysia Industrial Parks', one of the world's largest halal hubs, was established to provide world-class facilities, a skilled workforce and ease of doing business, among other things.

It covers an area of 200,000 acres in 14 strategic halal parks that have received Halal Malaysia status from Halal Development Corporation.

"To date, halal parks have attracted a cumulative investment of more than RM16 billion, of which RM9.5 billion or 59 per cent of this amount are foreign direct investments (FDIs)," he said.

A total of 295 companies including 42 multinational companies are currently operating in 22 halal parks throughout Malaysia.

-- BERNAMA