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Saturday, 6 October 2012

Halal potential still untapped

DESPITE the growing focus on halal production of goods locally, there is still a huge potential yet to be tapped.

With the global halal industry estimated at US$2.3 trillion (RM7 trillion), Halal Industry Development Corporation chief executive officer Datuk Seri Jamil Bidin yesterday said more companies need to get involved and collaborate to capitalise in opportunities offered in the halal industry.

Currently, there is not enough raw materials made available to produce halal products, he said at the CNBC Summit.

Echoing this call, Nestle Malaysia Bhd managing director Peter Vogt said the dairy firm is facing issues acquiring raw materials, particularly those with a halal certification.

As the local halal industry is still being developed, he said the firm is still focused on ensuring it can have reliable halal-certified suppliers.

Jamil also said that despite the worldwide slowdown due to economic uncertainties, the domestic consumption this year remains promising.

He noted that with 1.8 billion Muslims globally, there is continuous demand for halal products but supply is limited, particularly in European countries and the Soviet Union.

He said Malaysia is acknowledged as the reference centre for halal certification as well as halal standard development and training. “This can be viewed as being a catalyst for big businesses.”

Also at the summit, Performance Management & Delivery Unit chief executive officer Datuk Seri Idris Jala said to help ease the economic challenge of Malaysian economy, Petronas is expected to build a RM60 billion refinery project.

(The Malay Mail / 04 Oct 2012)

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