Halal sector to contribute 5.8pc to GDP by 2020
KUALA LUMPUR: The contribution of halal industry to the country's gross domestic product is expected to grow to 5.8 per cent by 2020 from less than 2 per cent currently, according to Halal Industry Development Corp (HDC).
Chief executive officer Datuk Seri Jamil Bidin said the growth will be driven by deeper penetration of halal products and services to the 1.7-billion global Muslim population as well as greater awareness on the industry by non-Muslims due to safety and hygiene factors.
He said the local halal industry, which is growing at 5 per cent annually, is worth about RM15 billion.
"There is big potential for the industry because currently, the global halal trade is less than 10 per cent of the global trade ... it does not reach many Muslims around the world," he said at a news conference after the opening of World Halal Forum 2011 by former prime minister Tun Abdullah Ahmad Badawi here yesterday.
Chief executive officer Datuk Seri Jamil Bidin said the growth will be driven by deeper penetration of halal products and services to the 1.7-billion global Muslim population as well as greater awareness on the industry by non-Muslims due to safety and hygiene factors.
He said the local halal industry, which is growing at 5 per cent annually, is worth about RM15 billion.
"There is big potential for the industry because currently, the global halal trade is less than 10 per cent of the global trade ... it does not reach many Muslims around the world," he said at a news conference after the opening of World Halal Forum 2011 by former prime minister Tun Abdullah Ahmad Badawi here yesterday.
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