Halal market witnessing significant growth worldwide
By Rizwan Khatik - Sat Sep 03, 10:04 am
Al Islami Foods in a report on the Halal market, drew to the importance of ”development that commensurate with its expansion to include major countries and communities in the world, the sector provides many possibilities for investors including the areas of food companies to contribute in”.
The Chief Executive Deputy, Hamid Badawi, stressed on the importance of creating global standards for the “Halal” industry as a step towards transforming it to a global economic power, as well as strengthen efforts to provide a “global certificates for Halal” according to these criteria.
He said that “creating legislation to regulate the global “Halal” industry is one of the most prominent factors that enhance the performance of this growing sector worldwide”.
“Meanwhile many countries are preparing themselves to enter the “Halal” industry such as China, France and Japan,” he added.
Noting that the “Halal” Industrial compounds ” are developed in many countries including Malaysia and Britain, through participation of the private sector and the authorities of regional development, which enhance the communication channels between each compound and farmer associations and local authorities in the region in which it works”.
“The availability of such complexes, is the appropriate infrastructure to meet the requirements of the “Halal” market growing at more than 30 countries with Muslim majority in the world, as well as large parts of Africa and the presence of Muslim communities in Russia and the countries of Eastern Europe”.
He believed that the launch of the index of Halal food “SAMI” in Malaysia this year which is the first in the world, represents a great value for investors, as it is an important step for the construction of the sector, and building strong combination of sectors of the Halal Food and Islamic banking, including providing financing channels leading to support the growth of “Halal” food companies and strengthen its position in the world”.
Badawi pointed out that ” the prime motication to drive the growth process and strengthening the position of “Halal” in the global markets, is joining efforts to raise awareness of the health benefits and multilateral trade provided by this sector in light of its growth and attractive returns, and encouraging more investors to enter this area”.